Office Space News
Published October 29th, 2012 by Jennifer LeClaire
BOSTON – I was reading an article in BostoInno. Lauren Landry penned an article about the 13 Accelerator Programs & Coworking Spaces That Can Help You Launch Your Startup.
“You’ve got the networking and terminology down – now you’re ready to start growing your business. The problem? You need the space to launch your startup off the ground, and maybe a little funding,” Landry writes. “Lucky for you, the city’s full of accelerator programs and coworking spaces offering up a bit of both…and a lot of free caffeine.”
Landry goes on to look at the 13 places where innovation is a constant and work ethic is a must. I won’t reproduce her entire list here. You can read the article if you want the top to bottom. I’ll just focus on one coworking office space on her list: The Cambridge Innovation Center.
Located within the Cambridge Innovation Center, CriticalMass is differentiating itself from other Boston coworking office space with positioning as the only dedicated workspace designed exclusively for promising startups backed by VC firms. Indeed, Bain Capital Ventures, Charles River Ventures, Flybridge Capital Partners, Highland Capital Partners, and North Bridge Venture Partners are funding the operation. The fact that VCs are getting in on the coworking game is telling – very telling.
“While coworking spaces like this have become more commonplace in New England, none to date have had the active participation and support of the regional venture trade association, as well as from a group of sponsoring firms, that collectively have 88 investors based in Massachusetts, a network of more than 130 portfolio companies in New England, and nearly $10 billion in capital under management,” says James Nahirny, Chairman of the New England Venture Capital Association, and managing director of Bain Capital Ventures. “Our shared goal is to make CriticalMass a premiere address of promising startups in the region, and the country.”
How much is it going to cost? $250 per month – or nothing if you get lucky. With this coworking model, the venture can choose to pay the CriticalMass fees for at least 48 entrepreneurs every year.