Philadelphia Coworking and Incubation Space Shutting Down After 10 Years

After 10 years fostering entrepreneurship and collaboration, Innovation Center @3401 will close for good this summer.

The 17,500-sq.-ft. incubator and coworking space opened in 2014 as a partnership between Drexel University and the University City Science Center. The idea was that ic@3401 would not only offer founders office space, but also access to investors and resources.

It was largely successful, attracting more than 200 hundred companies as members. As the startup world evolved over the past decade, the space adapted with it, according to Sandy Gomberg, strategic advisor to the Science Center — but the pandemic-sparked rise in remote work led to a huge drop in demand.