Techspace, the flexible workspace provider for scaling technology businesses, has launched Techspace Hub-and-Spoke to better serve the needs of medium-sized, high-growth businesses. The new model offers companies of 50+ staff access to Techspace’s vibrant workspace environment and business services, without having to share space with other organisations.
Business Insider has been named the first Techspace Hub-and-Spoke member, opening the doors to its new 5,000 sq ft office in Techspace’s 10,000 sq ft Shoreditch South location. Business Insider’s office has been purpose built for larger teams looking for an alternative to a conventional lease, supporting the company’s continued growth in London and Europe.
Techspace’s Hub-and-Spoke model allows dedicated offices to be complimented by larger, ‘Hub’ buildings, enabling businesses to benefit from the privacy and ownership of their own self-contained headquarters, without being disconnected from the amenities and community provided by a centralised hub. Techspace Shoreditch South is just three minutes’ walk away from Techspace’s Hub on Luke St, allowing members to retain all regular Techspace benefits, including bookable on-demand meeting rooms, concierge services, a bookable events space and community member lounge.
Managing Director UK & SVP International Julian Childs said: “The balance between ownership and flexibility is key for us. Now that we’re approaching 70+ people in London we need somewhere we can make our own. Harnessing culture is a lot about the environment, so being able to design our own workspace is invaluable to the business. 5,000 square feet might be right for us today, but we know if it’s not right for us in 12 months there’s another Techspace option we can take.”
Techspace CEO David Galsworthy explained: “The Hub and Spoke model delivers the core features scale-up businesses need, without any of the fluff that much larger member companies don’t want to pay for. Scale-ups want more dedicated spaces, fewer interruptions, less exposure to shared features and a space that feels like home. Hub-and-Spoke empowers mid-sized companies to attract and retain top talent by taking ownership of their environment and developing their own unique culture.
March 2019 marks Business Insider’s 5th year anniversary at Techspace and the company has now moved between four locations in five years, growing from three to 70+ members of staff in that time. Shoreditch South is Techspace’s sixth location in East London, expanding its network to include 2000 members across >100,000 sq ft in London and Berlin.
Galsworthy added: “Investment into London’s tech sector reached £1.8bn in 2018 – more than double any other European city – and we want to play our part in the city’s success by creating environments that help businesses to grow and attract the best talent. Our Hub-and-Spoke model is just one of the ways that we serve the increasing demand we’re experiencing. There are 1,200 technology businesses in London growing at a rate of more than 20% year-on-year and it’s our aim to capture 10-20% of the market by the end of 2020. So far, we’re on course to meet that aim.”
