Whether Hong Kong is on its way to becoming Asia’s next Silicon Valley is anyone’s guess, but the growing number of co-working spaces in the city could be evidence of a wider trajectory shift in the property market. If ourMade in Hong Kong WeekwithGeneral Assemblyis anything to go by, the startup fire has indeed been ignited in the city, which now boasts animpressive line-upof Unicorn potentials. Even the Government is involved in cultivating those Silicon Valley Dreams, so it’s no surprise that property developers are trying their luck. A co-working space is synonymous to a start-up hub. Less risky than an incubator, but more sophisticated than a serviced office, co-working spaces are a unique business model hailing flexible tenancy & service options as its edge against traditional offices. This is especially valuable for startups and micro-businesses that are just starting out. Studies have shown that employees thrive more in co-working spaces because they see their work as more meaningful, less competitive, conducive to job control, and having a sense of community. Some go as far as to say that traditional offices are on their way to being obsolete, or left in the cubicle age as we like to say. It’s this modernised approach to working that’s attracting not only the cool startup kids. Work is increasingly globalised, transcending geographical boundaries, time zones, and the nature of responsibilities themselves –a reality that will transform the workplace to be more flexible. Half of the Fortune 500 companiesoffer their employees the option to work at co-working spaces after seeing a boost in productivity, morale, and creativity in such an environment. The term ‘startup’ is now inextricably linked to a lifestyle – one that stresses autonomy and the sentiment of limitless possibilities that corporates simply can’t offer. With this comes a new attitude for the growth of co-working spaces, as they’re now applicable to companies in all stages of maturity. At the core of this business model, which we’ve said again and again: what sets one co-working space apart from another is its community. Beanbag chairs are nice and good coffee makes mornings bearable, but collaboration among members could make or break a startup. For larger companies, a quality community means you’re in daily contact with fresh talent, and individuals who aren’t hindered by a strict, hierarchical way of thinking. Community-building is a process that takes time, trial & error, and a hint of luck, making it difficult to replicate. Shallow networking will get you nowhere because valuable exchange is something that’s tangible: the members. Co-working spaces may just be on their way to becoming a class of their own, but remaining true to their mission is another story.
Hong Kong has become a powerhouse for startups with a mission, fostering innovation that tackles urgent social and environmental issues. This vibrant city offers a unique ecosystem supporting entrepreneurs in building impactful businesses while providing access to vital government resources and funding.
With over a decade in Hong Kong's bustling coworking scene, I've witnessed firsthand the remarkable rise of shared office spaces in the city.
These dynamic spaces have revolutionised the way we work, offering a perfect blend of flexibility, community, and professional amenities.
According to a recent study by Coworking Resources, the number of coworking spaces worldwide is projected to reach a staggering 41,975 this year, marking a significant 42% increase from 2019 to 2024.
The appeal of coworking spaces is undeniable. They provide a cost-effective alternative to traditional offices, foster networking opportunities, and offer a vibrant atmosphere that can spark creativity and innovation.
However, with the myriad of distractions and the constant buzz of activity, maintaining productivity in these shared environments can be challenging.
So whether you're a freelancer, a remote worker, or part of a growing startup, these tips and tricks will help you harness the full potential of your coworking experience while keeping your productivity at its peak.
Join us as we uncover the hidden gems and popular dining hotspots around Garage Society Sai Ying Pun. Whether you're a local in search of new lunchtime favorites or a visitor craving a taste of the vibrant dining scene, this guide is your ticket to culinary delight.
From quick bites to leisurely lunches, Sai Ying Pun has it all, and we're here to guide you through the flavors that await. Get ready to recharge and refuel at the lunch spots that call Sai Ying Pun home