Verizon Opens 5G Incubator in the Heart of NYC's 'Silicon Alley,' Announces Initial Participants

NEW YORK, Dec. 12, 2017 /PRNewswire/ -- Verizon has opened a 5G-enabled Open Innovation lab in New York's Silicon Alley to work with startups and academics to unlock new use cases and experiences through trials and prototypes using Verizon's pre-commercial 5G technology.  

The 5G-enabled lab space was created through a unique partnership with Alley, a co-working community that collocates startups, accelerators, and entrepreneurs.  The lab will serve as a place to advance new technology ideas, concepts, and solutions with Verizon innovation, product, and venture teams in a space designed for collaboration and ideation, making it the world's first 5G powered co-working experience. 

"5G brings an entirely new and unique array of benefits and possibilities compared to previous wireless technologies," says Verizon SVP of Strategy, Innovation and Product Development, Toby Redshaw. "One of the best ways to unleash the true possibilities of 5G is by getting it into the hands of innovators and visionaries. We see Alley as a logical first place to do just that." Verizon plans on offering access to dedicated space in Alley to select participants who are looking to explore test cases that benefit from the speed and latency characteristics native to 5G. The company expects the initiative will provide additional insights into the service and technology, as well as new concepts and use cases brought by those invited to the trial.

Trials are beginning with an initial wave of six innovative startups and two academic partners. These include pioneers of augmented reality (AR) and multi-user virtual reality (VR) along with platform startups working to analyze and optimize video delivery. Verizon has also been working with the NYC Media Lab to host The Combine, a university spinout accelerator, and will seek additional trial participants through the program.

The full list of initial startups and academics include:

• Arvizio
• BriefCam
• Collinear
• Holojam
• Mapfit
• NGCodec
• NYU Future Reality Lab
• Columbia University's Graphics and User Interfaces Lab

Verizon plans to foster additional relationships and select new trial participants through new university grants, a partnership with NYU's Tandon Futures Lab (a leading NYC startup program and AI incubator) and ongoing programming, education, and events at the space to empower the community with the latest tools and thought leadership around 5G.

Learn more about Verizon's 5G trials here.

Verizon Communications Inc. (NYSE,Nasdaq: VZ), headquartered in New York City, has a diverse workforce of 160,100 and generated nearly $126 billion in 2016 revenues. Verizon operates America's most reliable wireless network and the nation's premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary reaches about one billion people around the world with a dynamic house of media and technology brands.

Media contact:
Chris McCann
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SOURCE Verizon