Three successful entrepreneurs returning home to Oklahoma from stints outside the state have launched a venture accelerator in Oklahoma City that will develop local startups by providing investment, mentorship, office space, free services and access to further venture capital. Called VentureSpur and modeled on successful venture accelerators throughout the US, the new Oklahoma City accelerator launches on February 1, 2012.
Founders include David Matthews, a partner in VC firm Trailblazer Capital and manager of the Oklahoma Opportunity Fund; Gabe Bass, managing partner of Bass Law, a law firm with offices in Oklahoma City and El Reno; and Kraettli L. Epperson, owner of Black Mesa Consulting, a new Oklahoma City information technology consulting company.
“Over the last several years, venture accelerators have become the leading tool to develop startups that are lean, fast, focused and efficient investment vehicles,” said Epperson. “We’re taking the lessons learned at other successful accelerators and applying them to Oklahoma. Our job is to spark the innovation economy by building businesses that keep and attract talent and investment in Oklahoma, and that produce in-demand goods and services,” said Epperson.
“We think Oklahoma is ripe for an accelerator,” said co-founder Gabe Bass. “VentureSpur is modeled on Y Combinator, TechStars, Capital Factory and Tech Wildcatters, which have seen quick success with multiple companies receiving substantial follow-on investment or acquisitions. We want to do the same in Oklahoma,” said Bass.
Over the next few weeks, we will be exploring OKCWorks, the home of RACK59 and former site of the Lucent Technologies factory.
Taking in the plant needs to be a step-by-step exercise, since trying to wrap your mind around the space can be a little daunting. The facility is 1.2 million square feet of space which has been home to innovation for years.
In addition to RACK59's pristine data storage facility, OKCWorks is filling up with other business but has so much more it can do in the future, because of its interesting past. Take the photo above. The smokestack on the building that housed the plant's trades services now lifts up wireless signals .
So today, we will just be hitting the tip of the iceberg about what it is and was like at RACK59's massive home.
Here are some quick and jaw-dropping facts:
* The plant has warehouses that allowed for full-size tractor trailers and train cars to pull in to pick up equipment.
* You know how you can't use your cell phone on an airplane. Testing and technology developed at the OKCWorks plant helped to figure out why.
* In June 1985, President Ronald Reagan visited the plant. Because of rain, his outdoor speech had to be moved indoors. In less than 24 hours, OKCWorks trades people built a stage from scratch for the event.
* Robots zipped around the facility delivering pieces for inspection, but three-wheeled tricycles were also used to deliver goods around the plant - every part of which could be biked to!
RACK59 anchors this expansive space, which allows the data storage facility to service its clients now and in the days to come.