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Durham's American Tobacco getting another tech incubator

Durham's American Tobacco campus is getting another laboratory for incubating startups.

N.C. Idea, a nonprofit that supports entrepreneurs, and Capitol Broadcasting, the owner of American Tobacco, announced today that they are forming Groundwork Labs.

The incubator will select technology startups for a three-month program, providing up to $20,000 in funding, mentoring, office space, legal expertise and other support. 

The first group of startups is set to start in the spring of 2012.

Blackstone Entrepreneurs Network names first executive director

Blackstone Entrepreneurs Network, a new support network financed by the private equity giant, has named Robert Creeden to be its first executive director.

Creeden is founder and managing partner of Boston-based Partners Innovation Fund

The Blackstone Entrepreneurs Network was announced in April.

It is a partnership between the company and the Triangle's four major universities -- Duke University, North Carolina Central University, North Carolina State University, the University of North Carolina at Chapel Hill -- as well as the Council for Entrepreneurial Development.

Financed with $3.6 million from Blackstone's charitable foundation, it is designed to provide entrepreneurs with the support they need to turn their ideas into fast-growing companies.

Five companies join American Tobacco's basement space for startups

American Underground, the recently opened basement space at American Tobacco Campus in downtown Durham, has announced five new tenants.

The startups include Acorn Innovestments, Adzerk, Jaargon Ltd., Preation and Two Toasters.

They join the earlier announced companies Launchbox Digital, Joystick Labs and the Council for Entrepreneurial Development.

American Underground includes 26,000 square feet of space on the lower levels of the Strickland and Crowe buildings. It had been used as storage space until this fall.

The space is designed for startups -- rents are about $5 per square foot cheaper. It includes offices and suites, shared conference rooms and break rooms and a classroom that accommodates 60 people.
 

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