Big Corporations Are Moving To Coworking Spaces And What Does That Mean To A Startup
Oct 1, 2018
A playground for startups
Since forever, coworking space has been associated with startups. Its awesome benefits help new companies tackle the challenges startups face when trying to establish themselves out there. Flexibility, scalability and the will to provide everything with a startup needs, it is not an exaggeration to say coworking space contributes to the success of a startup. We have companies like Uber and Instagram started in a coworking space. In Vietnam, JAMJA – an e-commerce company based at CirCO – had successfully raised 860k from investment funds. Another member from CirCO is ShoeX also made the news by appearing in Shark Tank Vietnam a few days ago.
Big corporations are following the trend
Microsoft, IBM, Verizon – giant tech enterprises have been moving into coworking spaces years ago. By 2020, 60% of companies in the US believe that they will include co-working space in their office portfolio. Klook, honestbee, Navigos Group, and NHN Entertainment are some big names working at CirCO right now. We are also in talks with a top e-commerce firm in Vietnam, which will be revealed soon.
It’s a win-win
There are many reasons for big corporations to move to coworking spaces. For instance, one can argue that the beautifully designed office will help their employees become more productive and creative. While that is true, the primary motive for this shift in office usage is the business opportunities coming from this tight-knit community called coworking space. By staying close to startups, big corporations can stay current to their business and keep an eye on upcoming disruptive technologies. It is also easier for them to spot new talents, potential acquisition target or a partnership.
Naturally, startups prefer to stay out of those enterprises’ radar in fear of too early competition. Sharing the same office may sound risky. However, isn’t turning adversity into opportunity the spirit of entrepreneurship? Seeing the big guys right there will give startups an uber motivation to thrive and surpass them. “Look at that guy! I will be better and beat you someday!” Not only that, a startup will be able to showcase their products/services easier and get noticed. More exposure means more chance of partnership, investment, and support. At this point, the opportunities to grow outweighs all the risks involved.
In conclusion, instead of coming against each other, startups and big corporations can become allies, right here at this coworking space.