Southeast Asia is becoming a worldwide hub for startups and entrepreneurs. Young entrepreneurs are flocking to available co-working spaces as they look to start their new businesses.
Startups are Taking Off
Government agencies and officials in many Southeast Asian countries are recognizing the popularity and success of co-working offices and spaces. In Singapore, co-working spaces have grown exponentially in the last decade alone. In 2009 Singapore had just one office, but by the end of 2016, city officials expect to see 10,000 co-workings spaces available.
With the expansion of new startups, Singapore’s established chains and businesses are digging into gain more locations and spaces as well in today’s industry. Businesses like The Hive, an the Vietnam Dreamplex are planning for expansion in the coming year.
Co-Work from Wherever
Singapore’s co-working spaces are taking the business out of the city and establishing their offices to locations with a view. These destination offices are accommodating to the entrepreneurs that work solely on the internet.
These startup offices bring entrepreneurs together in beautiful locations like Thailand’s BeacHub, and Bali’s Hubud that allows workers to have a more exciting office view while they work to develop their ideas and plans.
Co-working Spaces Offer More than an Office
As the rest of the business world catches onto the popularity of co-working, co-working spaces are working to make their offices more enticing to local entrepreneurs by offering mentorships opportunities and business resources.
In addition to the perks that co-working spaces are offering new entrepreneurs, other offices are starting to entice new tech savvy individuals with unique office spaces like the Refinery space that features a restaurant within a co-working office, and the TreHaus that is one of the first co-working spaces to offer childcare.
Co-working and Co-living
In this age where a shared economy is becoming the expectation and the norm, many entrepreneurs are opting to trade living alone in for living in their co-working spaces. Indonesia’s LivIt spaces are making co-living the next big thing by offering entrepreneurs the opportunity to live where they work.
Empty Buildings Become New Startup Offices
As startup popularity sweeps through Southeast Asia, entrepreneurs are turning old commercial buildings into new co-working offices. In Indonesia, the Ke:Kini co-working space bring entrepreneurs to one of Jakarta’s most historical buildings . Entrepreneurs in this startup are working towards preserving other historical buildings throughout the country.
Startups and Entrepreneurs Earn Government Support
The popularity of the startup has taken the Southeast Asian region by storm. Government officials and organizations have been increasingly supportive of entrepreneurs and their new endeavors.
Indonesia’s government backed Global Entrepreneurship Program, gives individuals co-working spaces to develop start ups. Similarly, the oval government in Jakarta is working towards building new co-working offices to cater to the local entrepreneurs in the area.
Singapore’s government is supportive of startups and technologically savvy entrepreneurs as well and is supporting the development of new co-working spaces. In both Vietnam and Singapore, startup companies have received millions of dollars in funding to establish more co-working spaces and offices.
Corporations and Startups
As co-working takes off all over the world, large corporations are starting try out co-working as well. Businesses like Visa, DBS, and more have established co-working spaces in an attempt to encourage innovation and ideation in entrepreneurs and employees.
As it seems, co-working is here to stay and may very well be the working world of the future.