Coworking VS Incubators

Coworking VS Incubators

Is Coworking Better than Incubators for Startups?

Coworking VS Incubators

 
If you’re a startup, you’ve probably thought of joining a business incubator. The Icehouse and Creative HQ are well-known incubators that offer funding, mentorship and access to a community of venture capitalists. Applicants usually have to submit detailed business plans, disclose development, operational, marketing and sales activities to get into the club.
 
There’s another alternative that might be a better fit for a majority of startups: co-working spaces. Coworking spaces offer more freedom and flexibility than traditional business incubators. For many entrepreneurial startups - those that don’t need the full range of incubator services, or those that want to be in control of their company without following someone else’s vision - co-working is the perfect alternative.
 
For many startups, what they need the most is not necessary capital funding, nor lack of talent, but having a supportive community. There are many distinct benefits that come with working in a space with other like-minded entrepreneurs:
 
Grow at your own pace - coworking memberships tend to be uber-flexible, and offer space by the hour, day or month. For startups this allows them to work and grow at their own pace, rather being forced into meeting key benchmarks.
 
Partner-up and share ideas - There are many creative and technology companies that collaborate with each other at Loft503, the coworking space which is home to Sharedspace. Some of the companies that have collaborated on projects include Gather&Hunt, Revoution Wines, Evelyn McNamara Architects, 90Seconds, Bullseye, Procom and Soup.
 
Co-working shifts the startup mentality away from the tunnel-vision focus on getting funding, and onto the “first-things-first” task of growing a company culture, developing ideas, and most importantly, nurturing support networks.

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