Why a coliving/coworking space from London is setting up camp in Philly - Technical.ly Philly

Business

Sep. 16, 2016 12:37 pm

Why a coliving/coworking space from London is setting up camp in Philly

Philadelphia is Startup Home's first U.S. expansion market. Here's why.

The company is gunning to launch its Philly space by March 2017.

(Photo courtesy of Startuphome)

Ask any entrepreneur in the earliest of stages, and they’ll likely say rent and coworking fees comprise the bulk of their burn rate.

Startup Home, a London-based company founded in 2014, decided to fuse the two together into a concept that mixes your average coworking space with an apartment building. It sweetens the deal further by throwing in a hint of accelerator in there, offering access to mentors, VCs, hosting pitch competitions and all that fun stuff.

The company, which currently has three locations in uber-expensive London, has set its sights on North America — perhaps oddly choosing the relatively affordable Philadelphia as its first U.S. expansion city. (Coliving has taken off in Brooklyn this year, with one outfit commanding bedroom rental rates of $1,800 to $2,700 a month. No word yet on what Startuphome plans to charge in Philly.)

With an estimated launch date of March 2017, in a space that will accommodate around 20 entrepreneurs, the company is currently shopping around Philly neighborhoods and establishing relationships within the Philly tech ecosystem. Startuphome has even turned to StartUp PHL — and the city’s startup czar, Archna Sahay — for guidance.

So why did the company pick Philly first? 

Advertisement

The company’s U.S. executive director, Simone Tarantino, said Startup Home looked at several key startup towns in the country — along with key variables like average rent price, number of companies and workforce — and came up with a clear winner: Philly was the better climate in which to set up shop.

“We picked Philly for its proximity to New York, and its affordability certainly helps as well,” said Tarantino. “We want to get talent to stay here in Philly and create jobs here. Around Startuphome, other business can thrive.”

Once the model has proved itself of worth for the city, Tarantino said the company would like to expand further here, replicating the current Startup Home setup in London — which has reportedly garnered interest in other European cities like Berlin and Poland.

Here’s a quick look at how the company sees the model working out:

You must appreciate accurate, relevant and productive community journalism.  Support this sort of work from professional reporters with seasoned editors.  Become a Technical.ly member for $12 per month -30-
LEAVE A COMMENT

Advertisement

This new startup is turning Philly restaurants into daytime coworking spaces

NewSpring Capital, PCOM invest in vybe, a network of urgent care clinics [Update]

Dell Boomi, Perpay, Relay win 2018 PACT Enterprise Awards

SPONSORED

Philly

Vistar Media’s tech stack is not for the faint-of-heart

Philadelphia

Perpay

Product Designer

Apply Now
Philadelphia

Practice

Director of Sales

Apply Now
Center City, Philadelphia

IntegriChain

Senior Business Analyst

Apply Now

Philly high-schooler wins 2nd place at Delaware’s Diamond Challenge

These 4 startups caught our eye at Philly Startup Leaders’ Entrepreneur Expo

CloudMine lays off one-third of its workforce

SPONSORED

Philly

Grow your small business with Salesforce at this Jan. 10 event

Philadelphia

Practice (Instructure)

Senior Software Engineer

Apply Now
Philadelphia

Practice (Instructure)

Senior Software Engineer in Test

Apply Now
Philadelphia

Practice (Instructure)

Software Engineer in Test

Apply Now

Sign-up for regular updates from Technical.ly

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