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

------

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

Trending News

Building Houston

 
 

Re:3D is one of two Houston companies to be recognized by the SBA's technology awards. Photo courtesy of re:3D

A couple of Houston startups have something to celebrate. The United States Small Business Administration announced the winners of its Tibbetts Award, which honors small businesses that are at the forefront of technology, and two Houston startups have made the list.

Re:3D, a sustainable 3D printer company, and Raptamer Discovery Group, a biotech company that's focused on therapeutic solutions, were Houston's two representatives in the Tibbetts Award, named after Roland Tibbetts, the founder of the SBIR Program.

"I am incredibly proud that Houston's technology ecosystem cultivates innovative businesses such as re:3D and Raptamer. It is with great honor and privilege that we recognize their accomplishments, and continue to support their efforts," says Tim Jeffcoat, district director of the SBA Houston District Office, in a press release.

Re:3D, which was founded in 2013 by NASA contractors Samantha Snabes and Matthew Fiedler to tackle to challenge of larger scale 3D printing, is no stranger to awards. The company's printer, the GigaBot 3D, recently was recognized as the Company of the Year for 2020 by the Consumer Technology Association. Re:3D also recently completed The Ion Smart and Resilient Cities Accelerator this year, which has really set the 20-person team with offices in Clear Lake and Puerto Rico up for new opportunities in sustainability.

"We're keen to start to explore strategic pilots and partnerships with groups thinking about close-loop economies and sustainable manufacturing," Snabes recently told InnovationMap on the Houston Innovators Podcast.

Raptamer's unique technology is making moves in the biotech industry. The company has created a process that makes high-quality DNA Molecules, called Raptamers™, that can target small molecules, proteins, and whole cells to be used as therapeutic, diagnostic, or research agents. Raptamer is in the portfolio of Houston-based Fannin Innovation Studio, which also won a Tibbetts Award that Fannin Innovation Studio in 2016.

"We are excited by the research and clinical utility of the Raptamer technology, and its broad application across therapeutics and diagnostics including biomarker discovery in several diseases, for which we currently have an SBIR grant," says Dr. Atul Varadhachary, managing partner at Fannin Innovation Studio.

This year, 38 companies were honored online with Tibbetts Awards. Since its inception in 1982, the awards have recognized over 170,000 honorees, according to the release, with over $50 billion in funding to small businesses through the 11 participating federal agencies.

Trending News