Is HustleCo poised to be an incubator, coworking space or business centre? When people ask us what is the idea behind HustleCo and we tell them, we get a variety of responses. In fact, most people think, oh, so you are starting a business centre? In fact, of the 3 establishments listed below, we are furthest from a business centre and closest to a coworking space. What are the differences between these terms and what lessons can we take from each to make HustleCo the ideal workspace for entrepreneurs and freelancers?
A traditional incubator, one for hatching chicks, is the idea behind a business incubator. Work with the businesses when they are at a small stage to help facilitate the growth of their company. Incubators have a strong focus on supporting the businesses they harbour to foster rapid growth. Services can include workshops, grants, pitch events, and access to investors. Incubators sometimes offer space to startups for free in exchange for equity. Incubators also tend to be more selective with their members, and can be looking to fill a particular niche, for example healthy food products such as District Ventures here in Calgary, or Innovate Calgary’s startup incubator program for tech startups. Some incubators are supported by government grants and programs to provide their services for free to members.
Coworking differs slightly in that the focus is more on providing a shared workspace for a variety of businesses and people. Coworking spaces do not always offer as many supportive resources as an incubator however, that is not always the case. Usually, compared to incubators, coworking spaces are less selective with their members and you can expect a greater variety of businesses as members there. Some government funded and granted incubators contain coworking space, however, the narrow focus of their business objectives can limit networking opportunities if members are looking to expand their horizons. There are some great coworking spaces in Calgary including Work Nicer located downtown, The Commons in Inglewood, and of course, coming soon to Phillips Park by Chinook, HustleCo! We believe the future of working is coworking; different companies sharing an office to benefit off collaboration with one another. The consolidated office is a concept that is losing ground to coworking spaces for a variety of reasons.
Business centres focus more on a providing an independent office or workspace for your company to plant roots. They generally do not have the collaboration potential of a coworking space and rarely host memorable events, presentations, or other networking opportunities. Examples include large multinationals such as Regus. They provide basic office services such as reception services, mail services, printing and faxing. Business centres focus less on collaboration but are ideal for companies looking for autonomy.
HustleCo Workspace is primarily a coworking space. One that enables people from different industries to work in close proximity to one another to facilitate collaboration and networking. We offer the benefits members of incubators enjoy including workshops on digital marketing, sales, accounting and other topics young businesses need to be up to date on to achieve their goals and reach the next level in their business and personal lives.
Stay tuned for developments with the HustleCo Workspace through our website and social media. The HustleCo Workspace will be a shared coworking space opening soon in Calgary with a superior motivational and engaging work environment optimized for entrepreneurs and freelancers. The winning and athletic work environment coupled with access to beneficial resources and superior marketing guidance from QuadRipple at the HustleCo Workspace enables members and visitors to reach their full potential unlike any other coworking space on the market.