Paul Judge set the stage earlier this week with Unicorns in Atlanta: A Look at Atlanta’s Billion Dollar Exits and Current Promising Startups. Atlanta has had a number of billion dollar exits over the years but there’s a desire to have more. Many more. Today, Urvaksh announced that Paul Judge and Allen Nance are launching Tech Square Labs in his article Atlanta techpreneurs launch “studio” to turn ideas into billion-dollar exits.
Tech Square Labs, no relation to Tech Square Ventures, is a hybrid incubator and private coworking space. It’s an Incubator in the true sense of the word where Paul and Allen role up their sleeves and help other entrepreneurs commercialize and launch their ideas. As compared to the dot com days, this model is different in that it’s only capital from Paul and Allen, combined with serious sweat equity. With up to six companies at a time, it’ll be an exclusive group.
From a coworking perspective, it’s a free hacker space with the twist that the software engineers have to prove they are super talented as a prerequisite for admittance. Smart people want to hang out with other smart people. Overall, the goal is to get the best technical people together and start companies.
Tech Square Labs has an audacious stated goal: produce billion dollar exits. The kernel of the thesis is that most of the billion dollar exits come from companies with serious, sophisticated technology at their core combined with massive, fast-growing markets. Billion dollar companies are difficult to build, but there’s clearly been a pattern in the past.
Tech Square Labs is great for Atlanta and I can’t wait to see it succeed.
What else? What are your thoughts on Tech Square Labs?