Through the state of Connecticut’s Invest CT program, Enhanced Capital has provided private growth capital to a variety of Connecticut-based businesses. One of those companies, Spot On Networks, recently announced an exciting project.
The project, Queensbridge Connected, will bridge a major digital divide as the largest affordable housing, community-wide WiFi network in the United States. Spot On Networks, a managed wireless service provider headquartered in New Haven, Connecticut, recently turned on the new network at the Queensbridge housing complex, in Long Island City, New York, which includes more than 3,000 units in 95 buildings with 7,000 residents.
Enhanced Capital previously provided financing to Spot On Networks through the Invest CT program, which was created by the Connecticut General Assembly to encourage private capital investment in promising Connecticut businesses that create and retain jobs. Connecticut’s Spot On Networks isn’t just deploying new wireless services. It also is committed to creating jobs to maintain the network, which offers unlimited data usage, WiFi calling capability, seamless roaming and 24-7 customer support, “providing Queensbridge residents connectivity and access to educational and employment resources,” according to a recent press release.
“Along with Mayor de Blasio we deeply believe that all New York City residents, regardless of income, should have access to secure and reliable wireless broadband,” Spot On Networks CEO Richard Sherwin said in the release. “We are thrilled to be the WiFi provider for Queensbridge Houses and are committed to providing an extraordinary service to Queensbridge residents as well as employment opportunities to those looking for work.”
The project, a public-private partnership with the New York City Housing Authority, was recently highlighted in a Wired magazine article about the importance of entrepreneurial companies like Spot On Networks. These companies’ projects not only make communications services more affordable and accessible, they also can help smaller businesses enter “an otherwise protected market,” helping to ease the challenges of capital provision and maintenance down the line, according to Wired magazine.
The new network is being built in six phases, with the first phase now completed in 15 buildings containing about 600 homes. The second phase of the project is expected to be live before the end of the year with the remaining phases to be completed by the fall of 2017. You can read more in Spot On Network’s recent press release.