The NY Times has launched a NYC-based incubator for startups. They are not demanding equity, but they want to stay close to the action so they are well-positioned to invest in promising startups as they raise funds.
timeSpace is a new initiative from The New York Times that brings entrepreneurs to our headquarters to refine and grow their businesses. Over four months, you and your team will work out of 620 8th Avenue, meet with relevant Times staff, demo your product and teach/learn alongside entrepreneurs and employees who make their livings in digital media, technology and journalism.
It is simple: The New York Times, and media in general, are in the midst of unprecedented change. Our core purpose remains to enhance society by creating, collecting and distributing high-quality news and information. We want to push ourselves and push others to find the best ways to do so, and we believe that timeSpace can be a part of that process.
This is a great example of the sorts of partnerships and interactions that animate the NYC tech scene compared to San Francisco. NYC is filled with other scenes — media, performing and figurative arts, music, finance, and so on — while San Francisco is dominated by tech and the immediate supporters: investors, PR firms, legal, etc.