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SoHo Becoming Silicon Alley for Local Tech Startups

By DNAinfo Staff on October 25, 2010 7:54am

By Gabriela Resto-Montero

DNAinfo Reporter/Producer

SOHO — The newest business taking root in SoHo sits between the stylish shops on Broadway but has nothing to do with fashion.

Wanderfly, a website that tailors trips based on users' budgets and interests, launched out of a start-up business incubator at 447 Broadway last week, making it one of the growing number of tech ventures forming in SoHo.

"Ours is one of the only spaces that's run by entrepreneurs themselves," said Christy Liu, 28, a co-founder of Wanderfly, whose offices are located alongside 17 other start-up businesses inside the incubator called SoHo Haven.

Two rows of work bays line the no-frills incubator's loft space and business plans sketched out on post-its hang on the wall.

"It's scrappy but you're focused on making your idea work," Liu said.

SoHo Haven's founders, Chris Dickson and Erik Nygren, also run their company, Atta Tech, out of the space and charge between $450 and $850 a month for the bays.

Each company in the space works independently, Liu said.

The incubator's opening comes at a time when city officials have increased efforts to build new businesses.

Last July marked the year anniversary of the New York City Economic Development Corporation launched Varick Street business incubator at 160 Varick, Crain's reported.

In part based on the success of that incubator, the EDC announced plans for five more new centers, the paper reported.

The more boutique style We Work incubator opened its first Manhattan location at 154 Grand Street.

SoHo's Silicon Alley moment may be due to the same factors that have made the neighborhood a magnet for creative types for decades — a combination of expertise in design, technology, media and engineering.

"When you put those things together, you come up with great innovation," Liu said."You come up with a lot of great stuff that's surprising."