“Long term, the goal is to operate our own fund,” David McCarthy of WindRose Media said. “We need to build street cred up first, build the community up first, have a couple of nice successes first.”
“That’s what the Uber space allows us to do, was remove those really hard-dollar downside constraints of operating the incubator, getting that 10-company class in a tranche,” he added. “We don’t have to worry about that anymore. It’s creating the environment, and companies, as we find them, we’ll pull them in.”
McCarthy is seeking other energy startups to be a part of PEDC. To qualify, McCarthy seeks entrepreneurs with solutions to energy problems. Those selected will make a six-month commitment to stay at the co-working spot, and as part of the deal, will have on-site access to industry mentors, access to investors, legal and financial expertise, co-working and private office space, monthly training and community events, and press opportunities.
Potential Energy DC, which takes a slice of the rent revenue, will bring in outside investors and make its own direct investments in the startups.
Ultimately, McCarthy wants to have 15 to 20 companies in the space by the end of 2015. Cool Flow Dynamics, Athena Power Inc. and Root Inc. have already signed on with PEDC.
UberOffices last year opened up its Tysons location at 1751 Pinnacle Drive. It also maintains co-working spaces in Rosslyn, Dupont Circle and Bethesda.