TechPad coworking space expands in downtown Blacksburg

FOR IMMEDIATE RELEASE


September 18, 2012 

Montgomery County, Virginia
Economic Development Department


 


TechPadMontgomery County, Virginia – TechPad will officially launch with an open house on Wednesday, Sept. 19 from 3 p.m. to 7 p.m. at 432 North Main Street, Suite 200, Blacksburg VA 24060. The 6,000 square-foot coworking space in downtown Blacksburg specializes in software startups and hosting entrepreneurial events. Located above PK’s Restaurant, TechPad features three private suites, two conference rooms, as well as reserved coworking desks in a shared environment that includes a kitchen, printer, broadband access, and a dozen bean bags.

Coworking is a growing trend across the nation. Coworking facilities provide a professional work environment and meeting space available on a flexible, paid membership basis to independents, freelancers, telecommuters, and entrepreneurs who have traditionally worked from home or a coffee shop. They also host events and activities that foster entrepreneurial development and social interaction of members.

“This model has proven to be successful in bringing jobs and opportunity to downtown Blacksburg,” said Bob Summers, Founder and Director of TechPad. “TechPad members have raised $850,000 in outside capital, generated $1.5 million in revenue during the past 12 months and created over 30 jobs. Alumni such as Skill-capped, Moveline and Heyo used TechPad as a springboard to fuel their success. Over two dozen startup and early stage companies are active or alumni of the TechPad community.”

TechPad originally opened in 2011. Since that time, it has invested more than $110,000 – partly funded through a loan from the New River Valley Development Corporation - to renovate the entire second floor of the building. The 6,000 square-feet of space can accommodate 60 people working comfortably. As a community space, TechPad regularly hosts Virginia Tech Entrepreneur Club meetings, informational sessions regarding entrepreneurship topics, and code-a-thons.

Speaking about today’s announcement, Governor McDonnell said, “2012 is 'The Year of the Entrepreneur' in Virginia and innovative groups like TechPad are helping entrepreneurs in Montgomery County to launch good ideas into growing businesses. When we kicked off the Year of the Entrepreneur, we wanted to help cultivate an ecosystem in Virginia that would spur innovation and cultivate a community of entrepreneurs. TechPad has been doing exactly that. This flexible space and opportunity to co-locate with other entrepreneurs is ideal to help individuals and their businesses flourish, which means more jobs and opportunities for Virginians.”

“Congratulations to TechPad on the launch of its coworking space for software startups,” said Jim Politis, Chair of the Montgomery County Board of Supervisors. “It is already proving to be a valuable tool for economic development in Montgomery County by stimulating innovation and entrepreneurship. “The Board of Supervisors and Economic Development Authority wish TechPad and all of its current and future members continued success.”

“In Blacksburg, we’re proud to offer an environment where high tech, entrepreneurial businesses such as TechPad can thrive,” said Blacksburg Mayor Ron Rordam. “ The TechPad model sets the trend for the future by providing collaborative space for creative thinking and processes, and gives new businesses such as these, important resources as they grow and prosper.“

For more information about TechPad, visit www.techpad.org or contact:

TechPad
Contact: Bob Summers
E-mail: bob@460angels.com

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