Startups housed at the American Underground’s Raleigh location on Fayetteville Street will be looking for new offices soon as it transforms into an Iron Yard training facility. Aimed at filling the local demand for technology talent, the coding school will offer a three-month program costing $12,000.
“Talent development is critical to the growth of the technology ecosystem in the Triangle over the next five to ten years,” says Adam Klein, chief strategist for the American Underground.
The 25 startup teams currently in the Raleigh incubator will be moving out at the end of October to make way for two months of construction before Iron Yard takes the space in January. No startups will be housed at the facility afterward.
“We’ll work with them to help them find new space,” Klein says.
There will be no change to the Durham American Underground locations, now up to three, the first at the Disney-designed American Tobacco campus, one on Main and one coming on Market Street.
Iron Yard, which already leases 3,500 square-feet of space at the American Underground’s Durham campus and is adding several thousand feet even as it expands in Raleigh.
Klein says he realizes $12,000 is a chunk of change, but adds, “It’s a great value.” Not only startups for the area’s larger companies also suffer from a talent gap and software coding jobs generally pay well even at the entry level.
The fee can be financed like any student loan, Klein says
American Underground incubators house more than 150 startup teams.