Grid110, a business accelerator partnered with the Office of Mayor Eric Garcetti, continues to strengthen Downtown LA's fashion tech scene with their second cohort of young entrepreneurs. The non-profit will apply its proven formula to the new batch of fashion tech startups - connecting them to office space, mentors, and resources during the most critical stage of their growth cycle.
Wildly successful startups pioneering social media, software, and VR are a trending topic lately, but the reality is that nine out of ten startups fail. Grid110 offers entrepreneurs the chance to become a rare success story by backing them with the support of an already well-connected team. Members of the Grid110 cohort benefit from the collective networks of the accelerator's board members, free class A office space in a Brookfield highrise, and valuable exposure within the entire LA startup community.
Accelerators like Grid110, incubators like LA Cleantech, and the rapidly increasing number of coworking options are a testament to the fact that DTLA's tech community is not just on the rise, but here to stay. They are the physical embodiment of the recent explosion of promising startups that often have an impactful online presence long before they take up any physical space. The fact that they're popping up in DTLA signals a shift from the West Side, where investors were focused early on, to the heart of the city where industry lives. As a hub of manufacturing and raw materials for LA at large, DTLA is particularly well-suited for fashion tech companies wishing to be close to suppliers and sources of production.
DTLA's collaborative culture is one of its biggest assets, and exemplified by accelerators like Grid110. The city's dense, urban center fosters a tight-knit community of mutual support - the antithesis of the suburban office campus model. Companies are excited to work together to cultivate DTLA's innovation ecosystem, recognizing that collaboration is a #majorkey to success.
The Grid110 program is only the beginning of what's to come for this new cohort of companies not only getting their start in DTLA, but committed to growing their business here. To keep tabs on what this year's cohort is up to, follow Grid110.
The five members of the new Grid110 cohort are:
Fintech company Reeelit, a platform that automates your savings while looking for deals on the item you want
NailSnaps, a startups that transforms social media images into salon-quality custom nail wraps that can be applied at-home in minutes
Lumenus, a pioneer of technologically-enhanced clothing and gear for runners and bicyclists
Athletic bag design company Persu, which combines high functionality with style
Flatlay, a new social influencer platform that helps people discover and receive rewards for sharing product collections and content