Cofounder of TechStars, Brad Feld, purchased a house in world’s first Google ‘Fiberhood.’
TechStars cofounder Brad Feld believes that Google Fiber, the search engine’s fiber optic internet service, will change the way startups can facilitate business. He believes in it so much that he bought a house in Kansas City, currently the only city in America to be blessed with the extremely high speed internet.
This house, known as FiberHouse, is not for Feld to live in but specifically intended as an incubator for startups. Feld and a panel of judges will choose up to five people to live in the house rent-free for a year, to work on their start-ups. The chosen applicants have to show the innovativeness of their start-up as well as their ability to leverage Google Fiber.
Although a seemingly smart business move, Feld is not in it for the money. He will receive no equity from the startups and potential profits that ensue. Rather his intentions are pure. He states:
I [am] using a “give before you get” philosophy here to experiment, learn, and help the Kansas City startup community.
The FiberHouse will join other startup incubators currently set up in Google’s first ‘Fiberhood.’ Home for Hackers and KC Startup Village are also taking advantage of the powerful internet to nurture innovation. If the trend continues, Hanover Heights in Kansas City may be the new Silicon Valley, but with less palm trees.