Evolve IP, the Wayne-based cloud services company, is paying it forward, establishing an Innovation Center to aid startups. “The idea,” says Guy Fardone, Evolve IP's chief operating officer, “is to give startups access to the office space, location, world-class technology, and other business resources that will give entrepreneurs and startups a competitive advantage to start growing their companies.”
But how does this benefit Evolve IP? “Successful companies will boost the local economy. In turn, more businesses, jobs and increased regional revenue will at some point equate to more IT dollars spent, and more opportunities to implement our cloud solutions. The Innovation Center is also a very good thing to do from a goodwill perspective that will in time create a halo effect for our organization,” Fardone adds.
The Innovation Center at Evolve IP is a partnership with the Chester County Economic Development Council's Ideas x Innovation Network (i2n) and GPX Realty Partners. It is located in Chester County's Keystone Innovation Zone, making startup tenants eligible for resources including up to $100,000 in KIZ tax credits each year. Targeted companies are early-stage technology, smart energy, non-lab biotechnology and life sciences startups. Mary Fuchs, i2n's co-director, estimates the center will generate five to 10 new, full-time jobs annually.
The center is just one aspect of Evolve IP's growth. The company just made the Inc. 500 as one of the fastest growing companies in the country, has launched its newest product, a full production desktop hosted in its nationwide private cloud, and is planning to announce several acquisitions in the coming weeks.
Source: Guy Fardone, Evolve IP and Mary Fuchs, i2n
Writer: Elise Vider