Real estate

4 perks to using coworking space

From cost benefits to collaboration opportunities, here's why startups are flocking toward coworking spaces. Getty Images

Over the past decade, there has been a dramatic increase in a new form of loosely structured, open-focused offices known as coworking spaces. These spaces are changing the way that entrepreneurs are approaching business, proving to be a valuable alternative to the traditional office setting.

Coworking spaces differ from conventional office spaces mainly due to the fact that they are often occupied by a multiple of different companies. Usually startup and small business focused, coworking spaces can house companies anywhere from individual freelancers working solo to teams of 20, 30, or more. While every tenant has different needs and priorities when it comes to office space, there are a number of advantages to the coworking model that any entrepreneur considering a change in scenery should consider.

1. Cost effective
Startups and entrepreneurs are frequent tenants of coworking spaces, leading to managers of those spaces understanding the frugal nature of their potential tenants. Coworking spaces will often be flexible in providing a package that fits the entrepreneur's schedule and budget. While a traditional office space might force you into a long-term lease on space, coworking spaces will likely offer a number of membership packages, including day passes, open desk seating, dedicated desk seating, and private offices.

2. Collaboration
Traditional office spaces carry a stigma of individualism and private focus that can hinder collaboration among tenants. Coworking spaces thrive on the opposite approach, establishing a culture of collaboration and community. For example, imagine an entrepreneur fresh off exiting their 8-5 corporate job and agonizing over the scary new world of startups. A quick walk into the kitchen can lead to striking up a conversation with a fellow community member, potentially securing an immediate connection to a mentor, investor or service provider. While those sorts of interactions may seem impossible in office, it is common for individuals from multiple companies with multiple strengths to interact and help each other.

3. Resources
In addition to merely encouraging a collaborative atmosphere, many coworking spaces will put the idea into practice themselves by offering a number of services in addition to office space. Some will offer educational speakers and workshops to come for a period of time to inform community members on a variety of topics. In addition, many have preferred service providers who can give discounts to community members.

4. Energy
Arguably one of the most important factors when considering coworking versus a traditional office is the enthusiasm and energy of the space. While potentially difficult to put into words, the atmosphere can have a powerful impact on how you approach new challenges and solve problems. The feeling of electricity in a coworking space when a fellow member signs a major client, closes a round of fundraising, or finishes a crucial project is contagious.

The future of work is changing every day. Digital collaboration is increasing exponentially and reducing the need for everyone to be in one room. Laptops are more popular than ever, allowing the flexibility to work wherever you have fast wifi and a strong cup of coffee. As these changes become more commonplace, coworking will likely continue to be a popular solution for entrepreneurs across the world

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Jake Askew is the director of member relations at The Cannon and Cannon Ventures.

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Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


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