Why Shared Office Spaces Work for Tech

We have seen some incredible technological innovations in recent years, with spectacular new software changing the world on what feels like a weekly basis.

It is somewhat ironic, therefore, that one of the most impactful innovations for the tech community in recent years is actually related to one of the oldest fundamentals of business: office space.

Shared office spaces are now as integral to the tech industry as the word ‘disruption’. They are to tech what tomato ketchup is to bacon, peas to carrots, cornflakes to milk. Many of our best-known tech companies began life in these collaborative, relaxed office spaces. Just a few of those names include Instagram, Timehop, Indiegogo, Uber and Wanderfly.

The CEO and founder of Timehop, Jonathan Wegener, wrote about how positively he views co-working spaces within the wider context of tech development. “Having an awesome home to independent workers and entrepreneurs is crucial to New York City’s goal to become a major technology hub,” he said.

This is why you will find myriad co-working spaces in every city that could lay claim to being a tech capital. From the more general spaces that will house companies from any industry — WeWork, for example — to the specialised, tech-focused approach taken by Primalbase, the spaces have become an integral part of the startup community.

We took a look at a few reasons why shared office spaces are so beneficial for the tech industry:

Collaboration Breeds Innovation

Arguably the biggest benefit to co-working — other than having a roof over your company’s head — is being in the immediate vicinity of other like-minded individuals or companies. It is absolutely no secret that tech, particularly in areas like blockchain and cryptocurrencies, is in the grips of a talent shortage that can make getting projects off the ground difficult.

“You know, right now data scientists are still a rare thing, but it’s not very hard to find a data scientist in the market,” Taner Akcok, Managing Director of FinReach, told Binary District Journal.

“What is hard right now is finding a cryptocurrency developer. Hard and expensive. It’s same as a few years ago when finding a data scientist was hard and expensive. So, what’s going to happen in a few years is everybody’s gonna be cryptocurrency developer and the market will be looking for another talent.”

The potential benefits of surrounding your organisation with skilled people are, therefore, huge. Shared office spaces that focus on emerging technology are likely to have numerous skilled people working on a variety of different projects at any given time, many of whom will be freelancers. Where better to be than under the same roof when you require their services?

Collaborative working environments are difficult to establish, and companies spend time and money trying to get their employees to work together and communicate effectively.

Consider, then, that 91% of those polled by Officevibe said they have better interactions with others after co-working. Having people work in a space that encourages conversation can have positive side-effects beyond the obvious ones like convenience.

One of our tenants, Waves’ Sasha Kolupaev, described the benefits of working in Primalbase. “It’s also great that there are other companies in this place because you meet interesting projects, it facilitates collaboration a lot because you exchange ideas and meet people and share contacts.”

The Energy of a Startup, Multiplied by 10

The ‘startup buzz’ is a key part of that invention and productivity so vital in any business, but particularly in those early days. It motivates staff to get things done with limited resources, creating an infectious energy that drives you forward.

Shared office spaces amplify this kind of environment, with startups feeding off one another. We see this on a daily basis from companies in Primalbase such as Waves. Their excitement and enthusiasm spreads throughout the office, and it drives us and others to work harder and find new ways to improve what we do.

For more established companies, it also helps them rediscover an energy that they may have lost as they grew and more bureaucracy was introduced. It helps them stay agile — to maintain the kind of creation that drove their growth when it was at its most rapid.

Maintain a Global Presence

Many shared office spaces will offer the ability to work from communal areas in all their locations around the world. Here at Primalbase, for example, we have opened offices in both Berlin and Amsterdam, with London, Singapore and New York City to follow before the end of the year. Our members have access to all of our spaces, making it easy to send their representatives around the world’s key tech hubs.

This means that if you have a meeting abroad, you have a location to use as both as a venue and a base for preparations and can stay and work there, rather than some dingy hotel. Remote working is all the rage, but many studies have found it increases loneliness and feelings of alienation among employees, as well as creating communication issues. Shared office spaces offer the best of both worlds — an opportunity to work from anywhere in the world without the downsides of remote working.

A Seat at the Table

Being part of the co-working community also affords companies benefits that may not be immediately obvious. For example, a lot of these spaces will regularly open themselves up for relevant events. At Primalbase, this means we host events focused on emerging tech across our global offices all year round.

Members will almost always be granted access to these events at no extra cost, and they are a great opportunity to meet not only those who work under the same roof as you, but those across the city that are interested in whatever niche tech the event happens to focus on.

Access to events outside of your business’ immediate field can be a breath of fresh air, and is a way for smaller companies to keep their ears to the ground on developments elsewhere. Companies pay a lot of money to have their delegates present at events — having them regularly hosted right at your business’ front door is a valuable perk.

A Level Playing Field

Shared office spaces also level the playing field. Working under the same roof removes traditional barriers to communication that have meant that good ideas either get left behind or take far too long to gain traction.

This benefits both large and small companies equally. For the smaller organisations, access to larger businesses working within the same space can mean that good ideas, which may otherwise have remained just that, can be picked up by those with the resources and manpower to bring them to fruition.

For larger organisations, this doesn’t mean being inundated with proposals from random startups — rather, it means conversations with people you know, projects you have discussed in communal areas and ideas you have developed together.

Great things happen when different groups collaborate, and co-working spaces are hubs of ideas sharing and inspiration.

Interested in working in a shared office space? We’ve got locations in Amsterdam and Berlin ready and waiting for you, with more opening in London, New York and Singapore. Stop by to see how useful they can be with your own eyes. Email amsterdam@primalbase.com to find out more.