You're watching...

Coworking Spaces: The New Silicon Valley Garage

Details

  • Description

    FOXBusiness.com's Kathryn Glass on the growth of coworking spaces in the tech sector.

  • Duration 2:44
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance

Transcript

This transcript is automatically generated

Free pizza coffee news.

If that's not enough to make you want to go to work.

How did dose of good old fashion camaraderie.

-- kind of have a media social networks you can talk with people to your right to your left and maybe -- wanna go out afterward that's at least part of the concepts behind the growing crop of incubator like spaces.

Popping up in New York silicon Alley and elsewhere.

We now have -- 200 plus people working on here we're all about the same stage which means they actually help each other out.

The days of starting a company in your garage history.

Now entrepreneurs can turn their fortune 500 dreams into a big business -- -- posh office space -- 200 people just like them.

Sharing an office is about more than sharing expenses.

It helps create a thriving community that nurture small business success.

Called co working.

And the businesses that do it -- -- aside from the benefits to the bottom line there other perks.

Be able to just talk across the table or walk across the room to.

Someone who losses were canceled a similar or designer or developer asking a question.

Can really help.

In terms and efficiency and I'm making a better product.

A survey of spaces -- working magazine desk mag showed one every three plans to expand in 2012.

And we work labs in New York is one of them.

Founders -- him pine ingesting Middleton grew their offices from 5000 to 171000.

Square feet on March 1.

And they plan to take over another -- later this year.

We -- collapse keeps the cost of desk rentals low.

Through corporate sponsorships with companies like Pepsi and Microsoft Sam -- Middleton say access to the network of other entrepreneur yours.

Potential investors.

And mentoring.

Is in valuable.

Which explains the 400 person wait lists.

And I love working out of this -- basis I worked and up an assortment space for start -- we can packed day.

Two years ago in a completely changed my life.

And it's not just in New York Trent.

Dog -- labs as a co working space backed by venture capital firm Polaris with offices in New York San Francisco Boston and Dublin.

Drug that's approved companies can use the space for free.

And while they may look a little like fraternity it's the members are serious about building a business.

The biggest benefit is the concern at this connections that you make with all the other people.

And just the knowledge that's here like there might be something that I might be blocked on upon reading a piece of code -- -- can't get it to work.

Well there's you know ten other great review developers in the space.

It's -- business.

Most of the time.

-- -- -- -- -- -- -- -- -- -- -- -- -- For foxbusiness.com.

I'm Kathryn glass.