Two and a half years after Harvard Business School (HBS) launched its Startup Studio in New York City, the Boston school has announced its plans to close the Manhattan working space by the end of September. According to an HBS press release, the decision to shutter the Startup Studio did not come easily. But ultimately “experiential insights” revealed that demand was limited.
The original goal of Startup Studio was to provide a subsidized space in which alumni founders could hone their entrepreneurial skills. But though there are plenty of HBS founders in New York, demand for the case discussions and skills-building workshops offered through the studio wasn’t very high. One-on-one mentorship meetings and industry networking events organized by the studio did prove to be quite popular, but not enough for HBS to continue its support of the space.
HBS also discovered that ample resources similar to those provided by the Startup Studio were already available elsewhere in New York City. Take, for example, the plethora of excellent programming for early-stage entrepreneurs throughout the city. Many local organizations also offer subsidized spaces.
HBS stands behind its decision to end the Startup Studio but won’t do so all at once. To ensure a smooth transition, current residents can stay on site until September 30th. Current staffing and support, though, will wind down by June 30th.
The Startup Studio’s untimely demise is not indicative of the end of all HBS entrepreneurial programming in NYC. Some upcoming events include:
- Rock Center for Entrepreneurship Summer Social in NYC (June 20th)
- HBS Club of New York/Rock Center Annual Rock Summer Fellows Social in NYC (July 17th)
- The 2019 Alumni New Venture Competition (this fall, date to be announced)
HBS also promises continued support for its alumni through the HBS Club of New York and its Angels Program, HBX, the Rock Center, Harvard in Tech, and Harvard Alumni Entrepreneurs. The school has also begun to explore how the Harvard i-Lab can expand its efforts to serve the wider entrepreneurial community.
Keep an eye on the Harvard Startup Studio website for updates.
