New Orleans’ first coworking space Launch Pad has big news. The company recently closed a $1.3 million seed funding round that will allow the company to rapidly expand to new locations nationwide. With coworking spaces already open in Newark, Nashville, and Memphis as well, the company is hoping for 25 locations by 2020.
While the new locations have not yet been announced, Launch Pad founder Chris Schultz says they will be focused on Opportunity Zones across the country. The Launch Pad team is actively seeking recommendation for expansion locations.
Launch Pad is calling their existing and future markets momentum markets. The company plans to provide community members with the space, resources, and eventually, funding, for the both their members and the cities where they will be located.
“With the passage of the Opportunity Zones (OZs) legislation—a place-based policy that drives incentives for economic growth in underserved neighborhoods—Launch Pad’s mission of supporting and growing entrepreneurial ecosystems in momentum markets is more essential than ever,” shared the company.
“Launch Pad is a catalyst to activate entrepreneurial ecosystems in momentum markets and the OZ law recognizes the importance of investing in communities across the country and totally aligns with the Launch Pad mission of serving entrepreneurs in underserved markets,” said Launch Pad co-founder and CEO Chris Schultz.