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Houston coworking space to give away a free year of workspace to a worthy startup

Houston-based WorkLodge announced its annual contest to give away a year of free work. Getty Images

WorkLodge, a Houston-based coworking space franchise, is again offering up a chance for a free year of space for a lucky startup in town.

IGNITE by WorkLodge, an annual program, launched on March 14 and closes on April 7. Applicants can enter for free at ignitebyworklodge.com. The form asks for business ownership details, marketing, basic financial information, and entrepreneurial vision questions, per the website.

If selected as a finalist, the startup founder will pitch their business at a judging panel on April 11 at 6:30 p.m. at WorkLodge's Woodland location located at 25700 I-45 Suite 400. It's at this event where a winner will be selected.

"During our previous IGNITE By WorkLodge for nonprofits office giveaway, we saw an astonishing turnout of individuals with incredible business concepts and no central office to help their dreams become reality," says WorkLodge CEO Mike Thakur in a release. "Through IGNITE By WorkLodge, our goal is to serve as the invisible supporters, knowledgeable mentors, and loudest cheerleaders for our community's startups. We're happy to give one lucky business the freedom to focus on their meaningful work in an environment designed for growth."

IGNITE by WorkLodge also has a contest for nonprofits, which begins accepting applications on October 1. Last year's nonprofit winner was Mythiquer Pickett, founder of The Woodlands-based nonprofit, We See Abilities.

"Winning IGNITE By WorkLodge has greatly impacted We See Abilities — finally a place we can call home," Pickett says on the program's website. "Businesses, family, and friends can see we have an established imprint in the community with this brand-new office by WorkLodge."

WorkLodge was founded in 2015 in Houston. The company has two locations in Houston — one in The Woodlands and one in Vintage Park. Dallas has two locations, Fort Worth has one, and St. Petersburg, Florida, is sixth location and only office outside of Texas.

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Building Houston

 
 

New study shows Houston has minority-owned startups than any other Texas city. Photo by Tim Leviston/Getty Images

Both Houston and the state of Texas earned high rankings on a recent study by Self Financial that looked at the percentage of minority-owned startups in regions across the U.S.

"Today there are nearly 170 thousand minority-owned startups in the U.S., employing over 700 thousand people and generating close to $100 billion in annual revenue," the report said. "Based on demographic trends, these numbers are likely to grow as the population continues to diversify on racial and ethnic lines."

According to the report, about 30 percent of startups in Greater Houston are minority-owned. This is the fifth highest percentage in the country. There are nearly 5,600 minority-owned startups in the MSA, employing more than 22,700 people and bringing in more than $3.1 billion annually, the report found.

The Bayou City outranked New York but just a tenth of a percentage. But neighboring San Antonio edged out the Bayou City for the No. 4 spot, with roughly 31 percent of startups being minority-owned.

The top three cities on the list were all in California. The San Jose-Sunnyvale-Santa Clara metro had the highest percentage of minority-owned start ups. Roughly 46 percentage of startups there are minority-owned. The Los Angeles area and San Bernardino area followed in the second and third spots, respectively.

Dallas was the only other Texas metro to make the cut. According to the study, roughly 24 percent of startups there are minority-owned, earning it a No. 9 spot on the list.

The state earned a No. 4 spot on a similar ranking. According to that report, nearly 27 percent of startups in Texas are minority-owned and are responsible for employing more than 87,000 individuals and turn out roughly $11.5 billion in sales annually.

Still, Self Financial argues that minorities are underrepresented in the startup economy in cities, states, and throughout the U.S.

"Non-Hispanic whites, who represent around 60 percent of the U.S. population, own nearly 80 percent of the nation's startup businesses," the report says.

In Houston, nearly 64 percent of the population is considered a minority. And yet, those individuals only represent about 30 percent of startup ownership. Even in top-ranked San Jose the gap is wide. The population in the metro has a 68 percent minority share, and only 46 percent of startups are minority-owned.

St. Louis had the narrowest margin among large, high-rated metros. Minorities represent about 26 percent of the population there, and 25 percent go startups in the city are minority-owned.

In Texas minorities represent about 59 percent of the population, but only 27 percent of startup ownership. Nationwide minorities represent about 40 percent of the population but own about 20 percent of startups, according to the study..

Nationally minorities are most represented in the start-up economy in the accommodation, food services, and retail sectors. And the report adds that the demographic has faced exceptional challenges in 2020—from a business perspective, the largest roadblock was (and is often) access to capital.

"Minority households have lower pre-existing levels of wealth and savings to put towards a new business, while banks and other creditors are less likely to approve loans for Black or Hispanic small-business owners than they are for white business owners," the report says. "Without upfront capital to invest in a growing business, minority entrepreneurs struggle to run and scale their operations.

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