Here East and Plexal announce partnership with Texas based capital factory
- Announcement strengthens link between London and Austin’s tech and creative industries.
- Plexal and Here East will serve as entry points for U.S startups expanding into the UK and EU
- Both parties signed MOUs during South by Southwest
London UK and Austin Texas, 11 March 2019: Plexal and Here East have announced a new partnership with Texas based entrepreneur campus, Capital Factory. The partnership will seek to open up expansion opportunities between their communities with a strong focus on advanced startups and SMEs, and to improve connectivity between their corporate partners. The agreement was made during SXSW (South by South West), with both parties signing MOUs and thus linking the London and Austin tech and creative industries.
Plexal, the innovation centre situated in Here East, and Here East itself will subsequently act as an entry-point for US startup’s looking to expand into the UK and Europe, and Capital Factory will provide support for UK based companies who are looking to enter the US through Austin Texas. The agreement enables startup executives at each facility to hot-desk at the offices of the other when visiting London or Austin/Dallas. In addition to this, expanding companies will also be able to apply for accelerator programmes and support services when looking to cross the Atlantic.
This partnership will intensify the international relationship between the US and the UK, with the organisations pledging to explore collaboration opportunities around their respective corporate and startup innovation programs in areas such as cybersecurity/defense, mobility, diversity and inclusion, and education. Plexal is a leading innovation center in the UK, working with both corporate organisations and SMEs to deliver innovation programmes and Capital Factory runs its Corporate Innovation Center and Center for Defense Innovation with partners Army Futures Command, AFWERX, DIUx and BoozAllen.
Signatories for the agreement were Michael Magan, Chief Operating Officer of Here East, Andrew Roughan, Managing Director of Plexal and on behalf of Capital Factory, Fred Schmidt MBE, Director of International Affairs. A dedicated representative presence for Here East and Plexal was established as part of the signing and will be led by Andy Jones, an Austin tech startup executive originally from London. Capital Factory will establish its presence at Here East and Plexal in June as part of an Austin-led Texas delegation that will be attending London Tech Week.
Gavin Poole, CEO of Here East, comments: “Executing this MOU solidifies the important strategic relationship that has already evolved between the Here East / Plexal and Capital Factory teams over the past several years with many exchange visits already happening in London and Austin, and more planned during 2019. Great Britain always has had one of the largest delegations at SXSW running a variety of activations over recent years including Great Britain House, Hackney House Austin, the British Music Embassy, British Underground and other programs. Here East has often been a sponsor of those events even prior to opening our doors in 2017 after a massive 5-year redevelopment of our facility following the Olympics.”
Fred Schmidt MBE, Director of International Affairs, Capital Factory comments: “This relationship with Here East and Plexal comes together, in a very specific way, an active partner with comparable large-scale resources and ecosystem that can be of great value to our companies in their global markets growth. Capital Factory does the same for the London companies”
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About Here East
Here East is located at the heart of Queen Elizabeth Olympic Park in London and provides over one million square feet of dedicated and versatile spaces for creative and digital companies. It is designed as a place for start-up entrepreneurial businesses to co-exist and collaborate with global established businesses and support genuine product innovation.
The Here East campus includes shared workspaces and public areas to foster a tight community, with space for discussion and events, a landscaped canalside and artisan cafes, shops and restaurants.
Here East is home to an array of organisations, including Studio Wayne McGregor, UCL/Bartlett School of Architecture and Loughborough University London, as well as BT Sport, Plexal – a world class innovation centre and Ford’s European Smart Mobility Innovation Office. Online luxury fashion retailer MATCHESFASHION.com, UK charity Scope, and video game company Sports Interactive. Here East is developed by iCity and owned by clients of Delancey.
About APL Logistics
Plexal is an innovation centre and co-working located in the fast-growing Here East digital and creative campus in London’s Queen Elizabeth Olympic Park.
Collaboration is at the heart of Plexal’s approach to innovation. Its innovation team delivers bespoke programmes for clients like Innovate UK and Transport for London, and specialises in forging connections between industry, academia, investors, startups and scaleups to tackle some of biggest challenges facing society while getting ideas market-ready.
Plexal was recently appointed by the Department for Digital, Culture, Media & Sport to deliver the London Office for Rapid Cybersecurity Advancement (LORCA): a threeyear innovation programme aimed at scaling cybersecurity solutions that are needed most by industry.
As well as cybersecurity, Plexal is focusing on the future of mobility and utilising the QEOP to help build and trial future mobility solutions, from 5G to the future of ride sharing. And, given its commitment to delivering on the Olympic legacy, a diversity and inclusion programme is also a part of current activities.
Plexal was launched in 2017 and was founded by clients of specialist real estate investment advisory company Delancey. For more information visit: plexal.com
About Capital Factory
Capital Factory has been the center of gravity for entrepreneurship in the state of Texas for the past 10 years. Housed in 90,000-sf of prime downtown Austin space, plus a Dallas campus, Capital Factory has over 2,500 members at any given time, and 700 companies in its ecosystem. Offering access to co-working, an accelerator program, an investment fund, and over 250 highly experienced serial entrepreneurs as mentors. The facility also hosts over 1,250 community meetups and events annually with more than 125,000 participants.
Delancey is a specialist real estate investment, development and advisory company whose activities encompass retail, residential and commercial real estate across London and the UK. Collaborating on a wide range of assets, partners and clients, Delancey is recognised for its innovative and diverse approach to creating long term value from real estate. Delancey also advises clients on appropriate capital structures, financing and provides asset management and development services. Delancey has a diverse portfolio of retail, residential, office and corporate assets across London and the UK, including the Alpha Plus schools group, Elephant & Castle Shopping Centre and 185 Park Street in Southwark. Delancey is also a pioneer in the private rented sector and has spent much of the last few years bringing the legacy of the London 2012 Olympics to life; it is delivering over 3,000 homes for rent at the multi-award-winning neighbourhood East Village, the former London 2012 Athletes Village in Newham.
For further information visit delancey.com