The mentoring project promotes economic growth and information sharing
By Anthony King | Downtown News
CommNexus, a non-profit, high-tech business organization, launched its downtown small business incubator, showing support for burgeoning Internet companies and the downtown business district at the same time.
Called EvoNexus, the business incubator provides office space, mentorships and a collaborative working environment for startup companies looking to grow their businesses. The launch was Feb. 16.
Located in the AT&T building at 101 W. Broadway St., the EvoNexus center is 15,000 square feet of office space dedicated solely to the startup companies. Currently, there are 13 businesses in the EvoNexus incubator, and over 150 companies initially applied to be part of the project.
CommNexus offers the space free of charge and does not require the companies to enter into contract after they leave the incubator. Traditionally, similar partnerships require the startups to provide a shareholder stake in their companies to be a part of an incubator like EvoNexus.
“This is a really unique space in that it’s the only incubator in the nation so far… that’s completely free,” said Adriana Herrera, founder and CEO of Fashioning Change. Her company is one of the 13 startups selected by CommNexus for the project. “They don’t charge rent and they don’t take equity. This is huge,” she said.
Herrera’s company provides consumers the option to compare clothes sold at large-scale retail chains to those produced at more economically and environmentally sustainable venues.
“One of the number one things with starting a company is you always have all these costs,” Herrera said. “Not only [is] it free, but they’re bringing in mentors for use as well.”
Besides the cost and mentorships, another main benefit of the EvoNexus incubator is being able to work with like-minded people in similar situations.
“There’s a lot of information sharing that takes place,” said Matt Voigt, CEO of Saambaa, a social media Smartphone application that was rated Best App by the Apple Company and is currently part of the incubator. “Everybody here has experience in building products, so we exchange that knowledge, which is really valuable. It’s a really, really good group, like a family,” he said.
“We’d like to be here as long as we can. It’s great camaraderie,” Voigt said. “We also get access to relationships [and] introductions. It’s a very efficient way for investors to meet new companies. Eventually, we’ll outgrow the space but as long as we can be here, we’d like to be.”
EvoNexus Chairperson Kevin Hell attended the launch and said supporting new businesses is smart for economic growth in San Diego. “Ultimately, we do want to see San Diego grow. That’s one of the reasons why we’re pulling together,” he said.
“We’ve got a vibrant city center and we have a lot of companies that are all in the same space,” Hell said. “We found that was very good for collaboration and getting people to basically work together. That’s what we designed this for, for collaboration [and] allowing the CEOs to really learn from each other.”
Herrera agreed, saying, “That’s what really exciting about being here. We all have a passion and vision for what we want to create and impart to the world. The idea, really, is that when we grow and when we’re successful, we create jobs and we give back to the community. It’s a long-term vision,” she said.
Several San Diego leaders attended the opening, including Mayor Jerry Sanders, Council President Pro Tem Kevin Faulconer, District 3 Councilmember Todd Gloria and San Diego County District Attorney and 2012 mayoral candidate Bonnie Dumanis.
“EvoNexus is raising millions in venture funding, creating jobs and providing startup companies a springboard to success,” Dumanis said in a press release. “This innovative style of idea sharing among high-tech startups is especially important in downtown San Diego, where the seeds can be planted for growth in software, media and Internet technology companies.”
Other startup companies in the EvoNexus include Zambig, an advertising aid for radio stations; Chat Meter, an online tool for ranging social media sites; Tap Chow, a tool for restaurants to manage their business; Swoop That, a textbook search engine for students; and Ugli Apps, three food search applications geared toward informing consumers on basic food information, among other companies.
