As a recently fledged startup looking for somewhere to establish your operations, selecting the right space and environment is critical to future business success. We compare three of Sydney’s most popular coworking spaces on a number of criteria below.
Environment: A not-for-profit organisation, Fishburner’s was founded by veteran venture capitalist Pete Davison and multiple time startup founder, Mike Casey. It aims to foster the pioneering values reflected in its namesake, a supply ship in the first fleet, through extensively supporting the startups that use its collaborative facilities. The expansive space, housing startups in a spacious converted warehouse in Ultimo, has cultivated over 621 startups during its existence. With an expansion planned in the coming months, it is now expected to be able to host over four times the number of its current startups when it moves to its new CBD premises.
Application Process: Fishburners only accepts early stage tech-based startups (less than $20, 000 revenue). If this requirement is met, you must then demonstrate in your application that you have the necessary skills and cultural fit to become a Fishburners Member. More specifically, they want to see startups that have scalability and are indeed executable by the teams behind them
Benefits of Acceptance: Membership at Fishburners entails access to exclusive events, Q&A sessions, workshops and connectors who will put entrepreneurs in touch with relevant industry contacts. There is also plenty of opportunity for skill sharing with employees, team members and mentors from across a range of disciplines. There is also a generous offering of deals for members including free Dropbox Business Account, $2000 worth of Google Credit and complimentary access to Github.
Tank Stream Labs Coworking Space
Environment: In a prime location on Bridge Street in Sydney’s CBD, Tank Stream Labs currently has over 250 full-time members. On-site amenities range from storage, internet and meeting rooms to value adding features like investor networks and being part of a far-reaching start-up community.
Application Process: The application process consists of a quick online form followed by a screening discussion with the general manager. Tank Stream Labs ideal applicants are post-launch startups from with around 2-20 employees. A well developed digital business model is the most valued selection criteria used throughout the process.
Benefits of Acceptance: With a number of dedicated events, 2500 sqm of coworking space and free fibre optic internet, Tank Stream Labs provides ample advantages for joining.
Stone & Chalk Co-Working Space
Environment: Also situated on Bridge Street, Stone & Chalk aspires to help startups redefine financial services through achieving new levels of customer service and technological delivery. The space comes equipped with secure office suites, board rooms, bike racks and printing facilities.
Application Process: Stone & Chalk focuses exclusively on fintech startups, with an intensive six-month selection process. Overridingly, it seeks to ensure a ventures founders have a vision for disruption through employing fintech, something which they are funded to do so by pre-existing financial giants like Westpac.
Benefits of Acceptance: Once accepted, the benefits more than justify the effort put into the application, with accelerator programs, funding streams and collaboration opportunities with financial industry leaders, government organisations and major technology companies all part of the package.
It is important to take account for the factors above and the compatibility of the space with the size and nature of your startup. Beyond the obvious criteria such as the type of startup allowed, a more in-depth enquiry should be undertaken by startups to evaluate the suitability of a coworking space. Questions? Get in touch with our startup lawyers.