Bridging local innovation dynamics with international networking through coworking (CIC)

The 2019 Coworking Europe presentation described CIC’s approach to building science- and technology-focused innovation communities around concentrations of entrepreneurs, capital and talent. It presented coworking and innovation hubs as infrastructure that could connect startups with universities, government, venture capital funds, corporations, nonprofit organisations, accelerators and other community partners. The deck argued that physical proximity increased collaboration, while deeper networking strengthened connections and improved startups’ prospects. It also situated the model within a broader discussion of entrepreneurship and employment, drawing on Tim Kane’s analysis of US Census Business Dynamics Statistics. The cited research reported that newly established companies had generally created a net three million jobs annually since 1977, although the annual figure had fallen to 2.34 million in 2010. The presentation further stated that the startup job-creation rate had remained at 11 jobs per 1,000 people during the 1980s and 1990s. CIC reported that it had built hubs in six cities, had three more under construction and intended to develop an international network initially spanning 50 major cities.

Key findings

• CIC reported that it had built innovation hubs in six cities and had three more under construction.
• The cited research reported that newly established companies had generally created a net three million jobs annually since 1977.
• The startup job-creation rate remained at 11 jobs per 1,000 people during the 1980s and 1990s.

Presented at Coworking Europe 2019