Release date: 2/24/2016
Location will assist Canadian entrepreneurs in accessing NYC market
New York, NY, USA/Waterloo Region, ON, Canada – Communitech and Phillips Lytle LLP today announced the opening of Communitech NYC, a workspace for Canadian startups to gain access to resources, business connections, customers, and funding opportunities in New York City. The workspace will be open to Communitech members, as well as to startups
affiliated with partner hubs across the Canadian Digital Media Network. The workspace is situated at Phillips Lytle’s offices within The New York Times Building at 620 Eighth Avenue in Manhattan. It will offer temporary office space and meeting room usage, other professional services and mentoring, as well as connectivity to the firm’s existing network of contacts throughout the NYC startup and venture capital eco-system. “We have always been heavily involved in the startup space,” said Phillips Lytle Managing Partner David McNamara. “This is a natural progression for us to connect the New York City
office to the Communitech Hub in Waterloo Region. Opening our doors to startups who have business opportunities in one of the most important markets in the U.S. is a great testament to our continued commitment to Canada and the partnership we have grown with the Hub.”
According to the recently released Startup Compass Report, Waterloo Region is home to the second highest density of startups, and some of the top engineering talent in the world. However, the report also noted that Canadian startups scaled slower than counterparts in other top startup ecosystems, and recommended a more aggressive approach to opening up
US markets such as Silicon Valley and New York. “International sales and investment are essential to driving growth for Canadian startups” said Iain Klugman, CEO of Communitech “Having a presence on the ground in New York City, as well as the connections and expertise of Phillips Lytle, will help companies take advantage of opportunities in the huge New York market, as well as find partnerships in New York’s growing tech sector.” One of the first companies to take advantage of the space will be Plasticity Labs, who will be launching their first US sales operation out of Communitech NYC.
“Over the last 12 months, we’ve seen rapid expansion in our enterprise customer base, with significant traction in the financial services vertical. New York City was the optimal place for our first US office, but given the costs of the New York market, we didn’t expect to make that happen for another year,” said Jim Moss, CEO of Plasticity Labs “With Phillips Lytle and the help of Communitech, we’ll be able to take that step right away and reach hundreds of new customers looking to build innovative and engaged teams with happiness at the core of their strategic plans.”
Phillips Lytle and Communitech joined forces in 2011 when Phillips Lytle opened its first Canadian office space at Communitech. The law firm’s history with assisting innovative companies and expertise in cross-border legal services made the partnership a natural fit. Phillips Lytle works alongside several other professional service firms in the Waterloo Region
building and still maintains presence as the only law firm, providing early-stage startups with legal advice focused on expanding operations outside of the Canadian market.