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What Would a VC Sponsored Coworking Location Look Like?
As coworking locations popup all around the world, last month we took a look at what corporate coworking might look like where a company such as Google would sponsor space for startups to use. Today I want to look at another alternative idea: VC sponsored coworking.
Venture capital firms are always looking for the next "big thing" and this location-collaboration could provide beneficial for the VC and for the startups that use the space. The VC would provide space for small, unfunded startups to use for a defined period of time (e.g. six months). The space could either be setup as a standard open coworking space with a common working area or each company could have a defined room(s) to use while all of the startups share common facilities (bathroom, kitchen, conference rooms, network equipment, etc.). This type of coworking could help reduce some of the risk VC’s accept when investing in a company.
What’s in it for the VC? They would get first crack at any funding oppotunities that the startups using the space need. The VC firm would see multiple new startups, company work ethic, community flow, etc., which could help in determing whether or not to fund the startup. Additionally, the startups could view the VC as a sounding-board or advisor when needed. The space could be used for meetups and community events as well providing additional exposure for the VC.
Om Malik authored a column earlier this week describing the need for small startups to work together to achieve results. What better way for this type of collaboration than in a incubator space where they are working together?
I’m hoping the guys at coobric can get a deal like this going.
Although this idea has popped up before, it doesn’t suit coworking at all. Our core values are:
1. Openness
2. Collaboration
3. Community
4. Sustainability
In the core of this is a grassroots, independence ideal.
VCs already have coworking, btw…it’s called incubators and they work much like you’ve mentioned above.
This is the antitheses of what coworking is about. VCs can do incubators all they want, but the moment they descend on coffee shops as recruiting grounds is the moment that coffee shop ceases to exist!
The point of coworking is to create productive workspaces for independents as an *open* alternative to cafes that aren’t necessarily set up to support the modern web worker. While VCs can be part of the coworking ecosystem, more often then not their involvement changes the dynamics, freedom and purpose of a community getting together for the sake of community to getting together for the sake of money.
That’s what incubators are for, and that’s the model that works for them. VCs serve a purpose for sure, but their role in community development is primarily to stay out of the business of raising social capital.
Seriously Allen, the corporate-sponsored/VC-sponsored coworking idea seems to fly in the face of the values that Tara mentioned! I strongly encourage you to visit a coworking space that’s independent and run for the sake of community. I think you’d better understand what it’s all about if you had first-hand experience. ;)
Union Square Ventures (where I work) has hosted two hackathons. The idea is to be like a nighttime facebook-oriented Jelly, but they always deteriorate into a straight social networking event.
So, in answer to your question: no one would get any work done and it would look like a meetup.
Hmm - but I don’t mean a hackathon - sorry if I wasn’t clearer. I meant typical coworking where people have to get things done.
Sounds like where I used to work over at Idealab.. or they called it an incubator.. similar concept though.