These flexible workspaces operate as temporary work hubs that anyone can rent by the hour, day or month. Yet each is as diverse as the people who frequent it.
As the Flexible Workspaces continue to evolve and transform into new types of workplaces that create experience and community for users, I am sure we are mostly conversant with common terms like coworking and shared office space.
Here are some other different terms to define the different terms used to define the Flexible workspaces
A shared workspace places less emphasis on the community aspect of coworking and attracts more established businesses with traditional services including catering, conference room booking and reception services. From a technology standpoint, shared workspaces typically operate on a more corporate network setup and infrastructure which some companies require for security and performance. Synonyms for “shared workspace” include “flexible office,” “shared office,” “flexible workspace” and “serviced office space.”
A serviced office is an office or office building that is fully equipped and managed by a facility management company, also known as an office provider, which then rents individual offices or floors to other companies.
Serviced offices, which are also referred to as managed offices, business centers, executive suites or executive centers, are often found in the business districts of large cities around the world.
Companies offering serviced offices are generally able to offer more flexible rental terms, as opposed to a conventional leased office which may require furnishing, equipment, and more restrictive leases. Space is normally flexible, allowing for additional space to be allocated at short notice, should the size of an individual business change.
An executive suite in its most general definition a collection of offices or rooms used by top managers of a business. Executive suites provide office space with flexible terms and more services than traditional office space. Ultimately, Executive Suites help companies project the image of a professional operation at a more affordable cost.
Executive suites are fully furnished offices and other types of workspaces that are typically leased on a pay-as-you-go basis. They enable individuals or companies to occupy office space without signing a long-term lease, paying a security deposit, leasing equipment or contracting for telephone, Internet and other services..
Coworking spaces differ from executive suites in two important ways: culture and community. Coworking center members who rent plug-and-play communal space typically have similar interests, participate in educational opportunities, share ideas and socialize during events such as happy hours to reinforce a sense of belonging.
An Innovation hubs are social communities or work space or research centers that provide subject-matter expertise on technology trends, knowledge and strategic innovation management, and industry-specific insights.
The hubs enable active knowledge transfer between researchers and business experts, on the one hand, and industry, government and representatives of academia, on the other hand. Here, decision makers can meet and brainstorm with scientists and business experts and discuss their complex business challenges.
One famous example for an innovation hub is IBM Research Lab situated at the Catholic University of East Africa.
Accelerators are workspaces that actually support early-stage, growth-driven companies through education, mentorship, and financing. Startups enter accelerators for a fixed-period of time, and as part of a cohort of companies. The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months.
A good example of an Accelerator is our member ALX which is an accelerator programme for Africa Leadership University. ALX is based at our Kilimani Office Space
As the name suggests open office mainly refers to the layout of the space, which avoids having walls or even dividers between desks. They are much more open, which comes with aesthetic advantages but often also with productivity disadvantages, including noise or visual distractions.
A startup incubator is a collaborative program designed to help new startups succeed. Incubators help entrepreneurs solve some of the problems commonly associated with running a startup by providing workspace, seed funding, mentoring, and training . The sole purpose of a startup incubator is to help entrepreneurs grow their business.
Startup incubators are usually non-profit organizations, which are usually run by both public and private entities. Incubators are often associated with universities, and some business schools allow their students and alumni to take part in these programs. There are several other incubators, however, that are formed by governments, civic groups, startup organizations or successful entrepreneurs.
A good example for an incubator is ILAB run by Strathmore University and C4D Lab by University of Nairobi. MEST Africa, is also a great Pan -African incubator based at Nairobi Garage Kilimani Office space
A tech hub is a community of tech startups and can have an informal or formal setup. A tech hub fosters innovation for technology startup companies and can be a specific area, part of a city or even a specific or set of buildings where small startups can rent space alongside each other to share facilities and ideas.
Tech hubs create an environment specifically targeted at helping young technology companies thrive. It also makes it easier for firms to meet investors in order to get their project funded. It helps ideas germinate and companies prosper.
HQ as a service
This is a relatively new term that refers to small-to-medium size companies that are looking to leasing their own space for their headquarters. “HQ as a service” typically means a fully customized and branded space with custom interior designs, which is leased from a shared workspace
A business park or office park is an area of land in which many office buildings are grouped together. All the work that goes on is commercial, not large-scale industrial nor residential. Business park developers usually plan out the whole project carefully. They build access roads, parking, and landscaped gardens. They also consider the positioning and usage of office buildings carefully.They are also often located main roads for easy access.
A great example of a business park is The Watermark Business Park where the Nairobi Garage Karen Office space is located. The Business park is also home to other multinationals such as GE, Unilever and MODE Africa.
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