A start-up incubator at New York University (NYU) recently celebrated its 20th company to be acquired by an outside company.
Bowtie.ai., an artificial intelligence start-up based at the NYU Tandon School of Engineering’s Future Labs, was acquired by MINDBODY, a company that provides scheduling software to gyms, spas and other wellness centers.
Tandon Future Labs is comprised of a network of start-up hubs including the Data, Urban, Digital and Veterans Future Labs. Since launching in 2009 with the support of the NYC Economic Development Corporation, the Future Labs have seen 20 of their companies acquired for a combined total of over $530 million.
“This is a significant milestone for NYU Tandon and the Future Labs,” says Kurt H. Becker, vice dean for research, innovation and entrepreneurship at NYU Tandon. “Since opening our doors 10 years ago, we have seen New York City undergo a technology revolution, and our member companies and graduates have played a significant role in the city’s transformation. We are proud that the Future Labs are expanding our work within the tech ecosystem and our support for some of the brightest and most innovative companies.”
Ron Fisher, co-founder and CEO of Bowtie.ai., comments, “Working with the Future Labs team, we were able to take our company from a few paid clients to over 100. Their support and advice was crucial in helping our business scale. Moreover, the successful founders that came through inspired us every week to focus on what was ahead and see that the issues we were facing were, in many ways, standard when growing your start-up.”
Source: Yahoo! Finance
