We are mobilizing. The Smart City Works Venture Studio is on track to begin operations in early Q1. Our sister organization, Smart City Works Venture Labs is in the eighth cohort of their Smart City Works Actuator program, and we are gearing up.
We have startups in motion. We are reviewing current and prior cohort startups, along with past graduates for selecting the top prospects for the Smart City Works Venture Studio, an apprenticeship program where experienced entrepreneurs become an extension of the startup team for a projected 18-month period. The desired result is either a Series A funding or an acquisition. In either case, the benchmark is helping the infrastructure focused startup get to scalable, repeatable commercialization.
We have the team in motion. We are bringing on board studio leadership of experienced entrepreneurs across a variety of roles. This will include C-level experience in go to market and product development for solutions for the built world, as well as a key partner from the corporate venture world to collectively assist the startups from studio entry to successful exit.
We have members in motion. Our members represent market needs and market opportunity. We were pleased to announce New Jersey Transit as an Agency Member. We will be making more member announcements in the coming weeks. Our members are expected to be a combination of agencies representing the needs of the market, and private companies providing solutions and services to meet those needs. This creates a whole greater than the sum of the parts and is an ideal environment for startups with solutions meant for this market.
We are leaning in to building back better. IoT and cyberphysical transformation are about data. They are about autonomous systems based in AI and Machine Learning. They are about increased visibility and granularity of our understanding. More than anything they are about resiliency. In that light, we are about resiliency. We are about helping startups become repeatable, scalable, profitable companies that enable resiliency. We are collectively focused on building back better.