Yahoo Finance New tech, old trains and the building that houses it all
The past and future are coming together at the former Railway Coastal Museum in downtown St. John's, where a group committed to technology startups and young entrepreneurs will be hanging their shingle in a building steeped in history.
Genesis Coworking is renting space in the historic site on Water Street, and was willing to work with all levels of government on a plan to save the recently closed museum.
"The railway was what opened up the province for the transportation of people and goods," said Mayor Danny Breen in a recent interview.
"It's a nice fit with the new technology of the startups."
Genesis Coworking offers desks and working space to individuals and teams, in an atmosphere more professional than the neighbourhood coffee shop.
Recently operating from a building on Harvey Road, Genesis Coworking offers a variety of packages, from a fixed desk that goes for $350 a month to a drop-in day rate of $20. It's affiliated with the Genesis Centre, the Memorial University-owned incubator that helps to build small businesses, many of them in the tech sector.
'The heart of innovation'
Genesis financial director Colin Corcoran said bringing the past and future together under the roof of the old St. John's railway station is a good fit.
"This building is the heart of innovation, the heart of industry and where the industrial revolution started for Newfoundland and Labrador," he said.
"Now we are looking forward to the next revolution, the tech revolution."
Last year, city council decided to close the Railway Coastal Museum — a project it inherited from the Johnson Family Foundation — citing a dramatic drop in visits in recent years. That didn't stop some people from protesting the closure.
The massive sale of St. John's-based Verafin, which has its roots at the Genesis Centre, to Nasdaq brought new attention to the tech sector in N.L.
Does that success put extra pressure on those in the tech sector? Not necessarily, said Corcoran.
"You wake up in the morning and get the email notifications for the latest, coolest [things] that one of our clients are doing and pressure that we feel is dissipated quickly by what we see."
While Genesis won't be the one to come up with the next great idea, it does offer space to a group who might.
That's not the only change coming to their new home. The historic building, which had been purchased by the late philanthropist Paul Johnson, will be named for him — the Johnson Innovation Station.
Genesis Coworking will use the building's second and third floors, which means the Railway Coastal Museum's ground-floor exhibits — which include dioramas and board displays — will be staying put for now.
