Impact Hub Baltimore is reducing coworking prices for social entrepreneurs - Technical.ly Baltimore

Access

Oct. 2, 2017 7:37 am

Impact Hub Baltimore is reducing coworking prices for social entrepreneurs

Daily access is now $50 a month. The move is designed to grow the Station North space's community.

Inside Impact Hub Baltimore.

(Photo courtesy Imapct Hub Baltimore/by Shannon Wallace)

Impact Hub Baltimore is rolling out new membership pricing to make coworking more affordable for social entrepreneurs.

Under the new model, the standard coworking membership costs $50 a month for unlimited daytime access to the Station North space. That’s one-fifth the price of the initial membership that started when the space opened on the first floor of the Centre Theatre at the beginning of 2016.

Another tier offers two days a month for coworking or five hours a month for meeting space is available for $30 a month.

Along with housing companies in private offices (which are not affected by these changes), the space has hosted a bevy of events including this year’s Baltimore Hackathon and a festival to close out Red Bull Amaphiko Academy’s launch in the U.S.

The change to the coworking model after 18 months comes as a result of feedback from community members who said the old pricing model could mean a trade-off between spending resources on access to space and accomplishing the mission-oriented work of their businesses, said Executive Director Michelle Geiss.

“We know from several years of working with social entrepreneurs that they need connections to relevant people and resources,” Geiss said. “We also know that they are stretched for resources and need to focus their funds on advancing their mission. This new model will grow the community of members who each bring their own networks and ideas into the fold, and it will free up resources for social entrepreneurs.”

While the pricing model will mean less money coming in per each membership, Geiss said it’s aimed at growing the current community of 160 members.

“Coworking hits its stride when the community gets big enough for people to find the right connections for whatever it is they are trying to do,” Geiss said. With a bigger community, members “will have better chances of running into someone who is addressing a similar challenge or who can make a relevant connection to advance the work.”

Advertisement

Geiss and Business & Operations Director Pres Adams believe part of helping spur those connections comes from emphasizing why the entrepreneurs are there in the first place. As Geiss put it, the model is also designed to emphasize “purpose” rather than the more real estate–oriented “space.”

That comes through in offerings tied to the memberships which also include meeting room and discounts on event rentals at the space.

Impact Hub is also looking to tie in more incubator-like programming with a third membership level that was introduced. For $150 a month, members can get access to advising sessions with Geiss, Adams and others, as well as workshops. Geiss said the approach is in pilot mode this fall, and is designed to formalize the kinds of help they were already providing. Scholarships are also available to help reduce the cost of this model, they said.

The new pricing does not affect the cost of private offices at the space, Geiss said.

They began rolling out the new pricing approach this summer. It’s the first time such a model has been tried at an Impact Hub space, Adams said, which has leaders in other cities interested.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Spaces opens its first Baltimore coworking spot in Stadium Square

Change your scenery during #BIW18 with these Coffee & Coworking opportunities

Here’s a look at the details behind Homebase, downtown Baltimore’s new coworking space

SPONSORED

Baltimore

Win up to $360,000 for your startup at the WeWork Creator Awards

New York, NY

LiveLike

Tech Lead, Mobile

Apply Now
Canton

TrackOFF

Quality Assurance Engineer

Apply Now
Canton

TrackOFF

IOS/Swift Developer

Apply Now

On the Market: 11 job openings building tech and community in Baltimore

Sunday: Free ice cream and community conversations in Station North

Inside Johns Hopkins’ new Remington innovation hub

SPONSORED

Baltimore

How Think|Stack and Year Up are cultivating local tech talent

Canton

TrackOFF

Web Developer

Apply Now
Baltimore

FX Well

Mobile Software Developer

Apply Now
701 East Pratt Street Baltimore, MD 21202

Institute of Marine and Environmental Technology/UMBC

Assistant Director

Apply Now

Sign-up for daily news updates from Technical.ly

Do NOT follow this link or you will be banned from the site!