New Lab introduction
The Brooklyn Navy Yard, where the New Lab is located, dates back to 1902 and was the main machine shop for ships used in World War I and World War II. Inspired by architecture's rich history of innovation, David Belt and Scott Cohen envisioned a way to repurpose buildings, launching New Lab in 2016 to champion entrepreneurship and innovation. Their ecosystem includes hundreds of companies, maintains good partnerships with forward-looking enterprises and civil organizations, and has received support from more than 270 venture capital institutions and experts in various vertical fields. To date, they have raised over $450 million in funding, successfully exited over $350 million, and have a collective valuation of over $1.7 billion.