Now, apart from BootHK and The Good Lab, other coworking places like CoCoon and The Hive see the glittering gem hidden beneath all that bleak and gloomy doubt. CoCoon for example, has a space that occupies a sprawling 14,000 square feet, and appeals to technology entrepreneurs with much to contribute. The Hive on the other hand, a space that opened in May last year, is situated in Wan Chai, and attracts creative freelancers.
Buford says: “Coworking is more impacted by culture than politics in Hong Kong. The handful of coworking spaces here have very different communities around them. They are all generally business focused, but with different specialties. In total, there is something like 40,000 square feet of space at the moment. “
These spaces help to build the community that startups yearn for, so it does not become a lonely process for people who want to make it on their own in a society that is generally not so affirmative presently.
However, economics is playing a huge factor in changing Hong Kongers’ mindsets about coworking. In order to save money on office rental as well as lack of space on the densely populated small island with a population of more than 7 million people, coworking is slowly becoming a very cost effective solution where one can have resources that they would have to pay significantly more for in a traditional, shared or serviced office.
“The biggest obstacle for local entrepreneurs in Hong Kong is the prohibiting cost of renting an office. We believe that at just USD38-230 per month per person at Good Lab, it would really solve the space problem for many entrepreneurs.” Yet told Deskmag.
It might be hard to change an ingrained mentality, but fighters are equipping themselves with appropriate facilities and a firm commitment to switch that mindset, and to continue kindling the entrepreneur flame that is blazing brighter and brighter within Hong Kongers.
Buford, for example, is optimistic that the coworking community will grow; as in the last year, five other spaces have opened up in Hong Kong, as more Hong Kongers get pulled into the collaborative aspects of coworking.t.
“It will become more and more popular, partly because concern for ever higher cost of renting an office, and partly because coworking itself would evolve to become a leading way of building one's business.” Said Yet.
“As Matt Ridley says at a Ted Talk, ideas flow freely at coworking spaces, and when ideas have sex with each other, unexpected innovation happens.
“I believe it is the serendipity that could happen at coworking spaces that makes them special.” He concluded.