SAN JOSE, Calif. -- (BUSINESS WIRE) -- TechShop, a membership-based, do-it-yourself (DIY) workshop and fabrication studio with locations across the United States, today announced it has signed a Letter of Intent with ownership of The REEF to pursue its first facility in Los Angeles, CA. TechShop would target to open later this year at The REEF, the new name for the LA Mart building, a design and innovation hub in downtown that also houses Maker City LA.
“When we launched ‘Bring TechShop to Your City’ last year, Los Angeles was one of our dream cities,” said Mark Hatch, CEO of TechShop. “It’s remarkable that in less than six months, we have not only generated enough interest in the LA community but also secured a partner like The REEF that puts Los Angeles firmly on our map of expansion efforts in 2014. We are thrilled to bring TechShop to Los Angeles, one of the creative capitals of the world.”
The two organizations will host an information session at Maker City LA (1933 S Broadway, Los Angeles, 11th floor) on Friday, March 21 at 7:00PM Pacific Time, which is open to the public. TechShop and executives from The REEF will discuss details about the facility as well as the goals for funding and membership commitment to be achieved over the next four months in order to make TechShop Los Angeles a reality. To RSVP for the event, go to https://www.eventbrite.com/e/bring-techshop-to-la-tickets-10984122807.
The REEF, home to the Maker City LA, Magic Box, and LA Mart communities, is an innovation hub that provides access to design, co-working, creative office, trade show space and the West Coast’s leading gift and home furnishing source for retailers and designers. Easily accessible by public transportation and major freeways, The REEF sits in downtown LA, near the University of Southern California campus and next to LA Trade Tech.
“We are delighted to help bring TechShop to Los Angeles, and to downtown," said Ava Bromberg, Senior Vice President of Business Development for The REEF. "Our aim with The REEF is to help provide creative businesses the tools they need to be successful, all under one roof. We have spaces for creation, exhibition and commerce, and tens of thousands of retailers and consumers look to our building as a resource for new products and ideas. TechShop is a fantastic addition to our creative habitat, and we are excited to help welcome and grow their community at The REEF.”
“TechShop would be a great addition to Downtown Los Angeles,” said Los Angeles Mayor Eric Garcetti. “I'm excited at the prospect of having this new infrastructure to support innovation, creative manufacturing, and small businesses in the heart of our City.”
TechShop Los Angeles marks the first partnership to grow out of the “Bring TechShop to Your City” campaign. The campaign began in September 2013 with a goal of raising $60 million to build new facilities in communities across America. The new fundraising, made possible through the Jumpstart Our Business Startups (JOBS) Act, has enabled TechShop to invite a broader group of investors, including smaller and community-minded investors, to participate in the business and bring TechShop to their cities.
In order to bring TechShop to Los Angeles by the end of the year, TechShop will seek to secure $1.7M in funding through individual, corporate and institutional investments as well as advance membership commitment from those interested in bringing TechShop to the city.
For more information on investing and/or joining the campaign to bring TechShop to Los Angeles, go to http://invest.techshop.ws/los-angeles.
World-Class Creative Workspace and Prototyping Studio
TechShop members have access to a world-class workshop with machines, tools, training, inspiration and support they need to pursue their passions, develop new skills and launch new businesses. Each location includes:
About TechShop, Inc.
Founded in October 2006, TechShop is a membership-based, do-it-yourself (DIY) workshop and fabrication studio providing access to a vibrant community of creative people and more than $1 million worth of high quality machines, tools and software. TechShop offers classes, workshops, instruction and meet-ups for people of all ages and skill levels. TechShop is based in Menlo Park, Calif., with locations nationwide.
For information and course listings, visit www.techshop.com, email email@example.com or call 855-TECHSHOP. You can follow TechShop on Twitter at "@TechShop." TechShop is also on Facebook as "TechShop Incorporated."