{"id":43971,"date":"2023-10-20T15:32:29","date_gmt":"2023-10-20T15:32:29","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/collaborate-to-innovate-page-2-of-2-startupsmart\/"},"modified":"2023-10-20T15:32:29","modified_gmt":"2023-10-20T15:32:29","slug":"collaborate-to-innovate-page-2-of-2-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/collaborate-to-innovate-page-2-of-2-startupsmart\/","title":{"rendered":"Collaborate to innovate – Page 2 of 2 – StartupSmart"},"content":{"rendered":"

It has also started to run sponsorship on its website, in exchange for goods donated to the space.<\/p>\n

 <\/p>\n

One of the first members of the space was Peter Bradd, founder of postcard printing service ScribblePics, which has evolved by drawing on the knowledge of his peers.<\/p>\n

 <\/p>\n

\u201cThere’s a lot of people in the room that know a lot more about things then I do and I’ve acquired a heap of knowledge which I can keep providing, and vice-versa,\u201d he says.<\/p>\n

 <\/p>\n

\u201cWe’re a software development company, which I didn’t think when we were when we first started,\u201d he said.<\/p>\n

 <\/p>\n

\u201cI thought we were a marketing company, providing a marketing service but now I’ve had to teach myself how to make software.\u201d<\/p>\n

 <\/p>\n

Being around other early stage businesses also provides a way for entrepreneurs to measure their progress, which is otherwise impossible if they were working from home.<\/p>\n

 <\/p>\n

\u201cSometimes if you’re sitting at home you can feel a bit silly and don’t know if you’re doing the right thing,\u201d Bradd says.<\/p>\n

 <\/p>\n

\u201cBut sitting with a bunch of other entrepreneurs, you don’t feel so silly anymore. You\u2019re just part of the crowd.\u201d<\/p>\n

 <\/p>\n

Variations on the theme<\/h2>\n


<\/b><\/p>\n

 <\/b><\/p>\n

Different groups have already started to iterate on the co-working concept, exploring the potential to achieve commercial and social outcomes.<\/p>\n

 <\/p>\n

An interesting experiment is from digital media not-for-profit ICE, which has recently embraced co-working as a way to provide a pathway for western Sydney migrants and residents to earn a career in the creative industries.<\/p>\n

 <\/p>\n

Fifteen entrepreneurs were handpicked to populate the space – including game developers, graphic designers, architects and artists – who not only are housed for free but also can access a range of services such as mentoring, training, business development, marketing and working one-on-one.<\/p>\n

 <\/p>\n

ICE creative enterprise manager Indu Balachandran said the goal is to create a hub of artistic activity in the western suburb of Parramatta which competes with the likes of the inner-city creative haven of Surry Hills.<\/p>\n

 <\/p>\n

\u201cThe hub emerged because we found a group of people want to make film and music their livelihood but would struggle to go from wanting it to doing it sustainable,\u201d Balachandran says.<\/p>\n

 <\/p>\n

There are access issues in Western Sydney because much of activity occurs in the city.\u201d<\/p>\n

 <\/p>\n

\u201cAt ICE we all come from a particular social experience, and the shape of the enterprise and practice is very heavily influenced by the journey traversed so far,\u201d she says.<\/p>\n

 <\/p>\n

\u201cWe’re putting it all together and encouraging individuals and hopefully Australia will see a new type of creative entrepreneur.\u201d<\/p>\n

 <\/p>\n

Investing in co-working<\/h2>\n

 <\/p>\n

Another experiment is leveraging the commercial potential of co-working, where VC firm Adventure Capital will soon launch the York Butter Factory space in Melbourne<\/a>, which will recruit start-ups that are good investment prospects.<\/p>\n

 <\/p>\n

Prices range from $100 for a hot-desk access up to $600 for a permanent desk and co-founder Stuart Richardson says the co-working is not a profit driver but rather a way to activate the space and connect like-minded people.<\/p>\n

 <\/p>\n

It will target digital media and web 2.0 businesses but will tap into the best businesses by applying an incubator\/seed accelerator investment model (similar to YCombinator).<\/p>\n

 <\/p>\n

\u201cThe incubator is an opportunity to access high-quality deal flow which has a higher potential of success when provided with active support and the ability to trial their offerings and pivot rapidly,\u201d Richardson says.<\/p>\n

 <\/p>\n

\u201cThis is tapping into the energy the co-working space brings and the inspiration, talent and capability each of the individuals in the space brings.<\/p>\n

 <\/p>\n

\u201cThat will be aggregated to really provide opportunities to go through the venture accelerator program.\u201d<\/p>\n

 <\/p>\n

Playing catch-up<\/h2>\n

 <\/p>\n

These co-working experiments are different examples of how the concept can be leveraged as a way to boost the local start-up ecosystem, when combined with grants-funding, sponsorship and venture-backed investment.<\/p>\n

 <\/p>\n

There is a consensus among participants that it is helping to bridge the entrepreneur divide between Australia and Silicon Valley.<\/p>\n

 <\/p>\n

\u201cIn Silicon Valley there is a density of activity that occurs within a very small space,\u201d Richardson says. \u201cIt is access to that eco system which enables entrepreneurs to advance ideas quickly, share and resolve challenges.<\/p>\n

 <\/p>\n

\u201cIt provides a streamlined pathway before them to connect with the right support at the right time to take businesses forward.\u201d<\/p>\n

 <\/p>\n

\u201cCo-working is a microcosm of that activity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

It has also started to run sponsorship on its website, in exchange for goods donated to the space.   One<\/p>\n","protected":false},"author":1,"featured_media":59508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43971"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=43971"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59508"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=43971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=43971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=43971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}