When most people picture coliving for startups, they imagine a hacker house akin to a scene from Silicon Valley. And they’re not entirely off base. In 2004, Mark Zuckerberg rented a house in Palo Alto with some early Facebook employees, and their success kickstarted a movement.
Today, the business of coliving for startups is booming. Coliving for entrepreneurs has taken the essence of the traditional hacker home and transformed it into a multi-functional space that specifically caters to the startup environment and its needs.
Entrepreneurs and professionals working for startups are choosing to live and work together under the same roof for many reasons, namely convenience, flexibility, and collaboration.
Let’s dive into what exactly coliving for startups is and how it can be beneficial for businesses.
What is coliving for startups?
Startup focused coliving spaces are designed with both creativity and productivity in mind. Many include a separate coworking space not far from the communal chill-out areas and rooms. You can work and relax at your leisure, replacing the traditional workspace with a flexibility that is often needed in a startup environment.
This is because when you’re starting a business from scratch, you are most likely thinking about your company at all hours of the day. And while it’s important to have a healthy work-life balance, drawing a line in the sand of where work ends and play begins isn’t as cut and dry as it may seem.
Entrepreneurs building their own startups often draw inspiration from their surroundings. Coliving spaces allow startup founders to immerse themselves with the people who will help them bring their ideas to fruition in a flexible, collaborative and comfortable environment.
How can coliving spaces be beneficial for startups?
When you’re starting a business, living and working in a space that is specifically tailored to suit all of your needs breeds productivity.
A blended coliving and coworking space offer endless opportunities for a collaborative moment, no matter the time of day or day of the week.
In startups, you never know when the next aha moment will strike. When you live with your coworkers, a breakthrough may happen over a bowl of cereal in the morning, or during a shared meal at night. It’s the ease of mixing focused work with relaxed day-to-day life that makes coliving for startups so attractive.
Thus, dynamic coliving spaces are designed to give people both productive space to focus as well as laid-back space to unwind—knowing the next great idea could just as easily spur from a poolside chat as it could from a desk.
Startup needs that can be solved with coliving
Coliving is also beneficial for startups because the managed spaces take care of everything for you so that you can focus on your business.
For instance, you never have to worry about restocking the toilet paper or soap, managing any home maintenance issues, buying items for the home/office like towels or pots and pans, or cleaning the common areas yourself. Most importantly, coliving spaces offer free, fast and stable WiFi to guarantee you never miss a beat.
Choosing to co-live with your coworkers can also help to form deep bonds; something that is proven to increase loyalty and motivation amongst a team. When people feel personally connected to and inspired by their environment, they are often more focused and produce higher quality work. This is especially important for startups, as founders benefit from surrounding themselves with a driven and passionate team.
Coliving spaces also have invaluable connections with many investment firms. Startups that choose to live and work together in a coliving space may have the opportunity to speak with these investment firms about the possibilities of creating a partnership with their own business venture.
Top entrepreneur focused coliving spaces
Many coliving spaces around the world also focus on bringing entrepreneurs, startup founders and digital nomads/remote workers together.
The Collective, based in London, has built the largest coliving space in the world. And they use this massive space to give entrepreneurs everything they could want or need in order to create the perfect blend of focused- and chill-out zones. Their spaces include a library, a cinema, a zen zone, a spa, a gym, and tons of coworking rooms dispersed throughout. They also host many events, such as yoga classes and BBQs, to create opportunities for the entire group to come together and form bonds throughout their stay.
In Lisbon, Entrepreneur Houses is also designed for entrepreneurs to co-live and co-work together. Each room is built for the ultimate work/life balance—efficient enough to breed productivity and comfortable enough to allow for relaxation. They also have a large coworking room that is free to all coliving residents.
And in Lithuania, there is a house designed for Entrepreneurs, Freelancers and Creatives.
Hong Kong, similar to Silicon Valley, is a hotspot for networking opportunities. The city attracts serial entrepreneurs who are jazzed to meet investors at events and form business alliances.
Singapore is quite similar to Hong Kong in this vain. In fact, incorporating businesses there is so popular, 80 out of the top 100 tech startups in the world are operating in Singapore.
SE Asia, on the other hand, provides a more laid back environment for startup founders and remote workers to focus on producing great work with minimal distractions. There are plenty of coworking and coliving spaces sprinkled throughout the many stunning locations in Thailand, Vietnam, Cambodia, and more.
Startup House, which has a selection of Houses throughout California, is designed to help young founders become better people and business owners. They organize free workshops and amazing networking opportunities where residents have the chance to mingle with investors and grow their team.
The idea behind these spaces is to create an environment for entrepreneurs to surround themselves with innovative people just like themselves. While many entrepreneur-focused coliving spaces are restricted to founders only, many others are open to all types of freelancers, creatives and self-starters.
Coliving.com has several listings with this in mind. In San Francisco, they offer a space built for Tech Founders, Professionals and Bootcamp Students. It offers a separate coworking space within the home, catering to the coworking aspect of living together.
To explore the rest of our coliving spaces for startups, check out our listings page to find the perfect place for you.