Scheme turns foreclosed homes into startup incubators

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The effects of the housing crisis are still highly visible in certain areas of the US, particularly in St Petersburg, Florida, where more than 800 homes are now boarded up and abandoned. What's worse is that these properties are concentrated in pockets, meaning entire neighborhoods are left desolate. A new program called Venture House is tackling the issue by renovating and renting out low cost housing in Florida to entrepreneurs, in the hopes of fostering startup communities and revitalizing the local economy. Many new startups are on tight budgets, meaning office and workspace rental near downtown are out of the…

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