Ann Arbor company launches free rent swap program for seed money
ANN ARBOR, MI — Ann Arbor startups can now trade shares in their business for free rent for a year, thanks to a new program launched by an Ann Arbor real estate company.
OXIO SAFE, announced by Oxford Companies on January 18, gives startups up to a year’s rent in exchange for future shares in the company. OXIO SAFE is an extension of the company’s Instant Office program, which provides ready-to-use offices at Oxford Companies properties.
“Ann Arbor has earned a reputation as a vibrant technology hub, and Oxford recognizes the immense impact that new businesses have on our community,” said Jeff Hauptman, CEO of Oxford, in a statement announcing the new program. “We are proud to provide additional options for innovators and entrepreneurs who continue to rely on Ann Arbor office space to facilitate development and team building.”
The program is open to companies currently working with Ann Arbor SPARK, UM Innovation Partnerships, Desai Accelerator, TechArb, or another area business incubator.
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Paul Krutko, President and CEO of Ann Arbor SPARK, praised the program, saying it can help attract new business to Ann Arbor.
“Growing startups need flexibility and a range of options to fit not just their budget, but also the size of their operations, both of which have the potential to change quickly,” Krutko said. in a press release. “…The Oxford team recognizes the importance of these emerging businesses and this new program is a great way to meet them where they are now to support their future potential.”
The program currently has no registrations, an Oxford Companies representative confirmed.
“The new OXIO SAFE program will reinforce our organization’s commitment to fostering economic growth in the Ann Arbor area,” Wonwoo Lee, director of asset management for the company, said in a statement. “We want startups to know that Oxford is here to support them and get them into their ideal office space.”
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