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July 26, 2017

TECHSPACE: INSIDE EUROPE’S COWORKING COMMUNITY FOR THE TECH-PURIST

Making life easier for fast-growing tech firms.

London is a hub for entrepreneurs, but it can also be a hostile place if you’re trying to grow your business.

Finding the right workspace is one of the biggest challenges faced by scale-ups – fast-growing digital firms that have raised investment.

Three years ago, the ‘Scale-up report on UK economic growth’ identified a lack of flexible, affordable office space as a key issue for young digital companies.

There’s been a boom of early-stage coworking spaces in the past decade, but now it’s larger ‘scale-up’ companies that are struggling to find a place to grow.

As the report found, 69% of leaders said their business could grow faster if they could find offices with flexible, short-term contracts.

IT’s a challenge facing London, the UK and much of Europe.

Meet Techspace

One company that’s cutting through these obstacles is Techspace, a tech-focused coworking provider that’s bridging the gap for scale-up businesses and was, “born out of an obviously broken market” as CEO and co-founder David Galsworthy, puts it.

“When we opened our first location just north of the Old St. roundabout, the overwhelming demand came from earlier stage businesses,” Galsworthy told The Memo.

“These companies were looking to raise, hire a team and built a product. Pretty much everyone we were dealing with was at that stage on their growth path and anyone who was raising a Series A were a big deal in the tech community, but were ignored by landlords, who wanted 3 years of accounts and big deposits, for leases on office buildings.”

“So they came to Techspace instead.”

5 years on, many of these businesses are now larger and better capitalised, but although landlords are more receptive to them, these growth businesses now view the idea of a traditional lease as off-putting, because they are expanding so fast they find it hard to know how much space they will need in the future.

Productivity is key

Techspace has built an ecosystem that takes this particular headache away from fast-growing businesses, catering for firms growing from 2 employees, up to 200 through its flexible offerings.

“We have built our product with a focus on placing productivity at heart of everything we do,” Galsworthy notes.

Every aspect of Techspace’s buildings have been carefully crafted to make the most productive environment possible – from density and how desks are laid out to the number of breakout spaces and meeting rooms.

Every aspect of Techspace’s buildings have been carefully crafted to make the most productive environment possible – from density and how desks are laid out to the number of breakout spaces and meeting rooms.

Member-first

“This helps us a lot as we are able to think from the client’s perspective”.

Berlin bound

Berlin will be the next destination for Techspace. Opening this Autumn, the German capital will be the start of a Europe-wide expansion for the scale-up community, helping strengthen the pipeline between London and the rest of international tech scene.

“Berlin is an exciting city for tech and innovation and we’re excited about adding value to our members by taking advantage of what each ecosystem has to offer in terms of lifestyle and working environment,” says Galsworthy.

Currently Techspace is housing a community of 1,500 members, operating 80,000 sq ft across 6 buildings in East London with the new Berlin location set to add a further 30,000 sq ft and 500 members.

POSTED BY: CHRIS SUTCLIFFE