How Entrepreneurs Benefit from Co-Working
F10 has recognized the need for scalable office space in Zurich and opened the F10 FinTech Co-Working Space designed especially for the needs of growing FinTech, InsurTech and RegTech Startups in April 2019. In addition to the centrally-located building with modern interior design and well-equipped workstations, we created an environment which fits best for a co-working mentality. These are the advantages that co-working spaces offer for emerging Startups.
1. Business Networking
Entrepreneurs need to build a network in their industry to succeed. Zurich being the financial centre of Switzerland is the ideal place for FinTech, RegTech and InsurTech Startups to meet potential investors, corporate partners, clients, industry experts and other financial technology enthusiasts. Apart from numerous banks, the biggest Swiss city is home to Fortune Global 500 companies in sectors such as financial services, insurance and technology. Multiple international companies and organizations established their global, European or EMEA headquarters in Zurich. Prominent examples are Google with its largest office outside of Mountain View, the FIFA with its international headquarters and IBM as well as Disney with international research labs in Zurich.
F10 as THE HOME OF FINTECH aims to tighten the bonds within the FinTech ecosystem and bring innovative entrepreneurs, established financial institutions, potential investors, future customers and industry experts even closer together with the opening of the F10 FinTech Co-Working Space. The research and consulting firm Emergent Research, the Global Coworking Unconference Conference (GCUC) and the co-working experts from the Office Nomads community conducted a survey about the role that work-related networking plays in co-working. 82 percent of respondents reported that co-working has expanded their professional networks, while 64 percent of the co-workers interviewed said their co-working networking was an important source of work and business referrals.
High-potential Startups with game-changing ideas often experience quick growth and sometimes hire new employees on a monthly basis. Co-Working Spaces are an attractive option for Startups that aim to hire more people but cannot afford to take the risk of added office space until they really need it.
The short-term liability of the F10 FinTech Co-Working Space supports FinTech, RegTech and InsurTech entrepreneurs in getting the maximum out of their available resources.
Researchers from the University of Michigan found that co-workers report significantly higher levels of thriving than people working in traditional offices. Most co-working members (84 percent) in the survey by Emergent Research, GCUC and Office Nomads said that working in a co-working space improved their work engagement and motivation.
According to an article on Harvard Business Review, co-working can “substantially reduce the isolation and loneliness associated with remote work”. 83 percent of the co-working space members interviewed by Emergent Research, GCUC and Office Nomads stated that they felt less lonely since joining a co-working space and 87 percent of respondents said that they meet other workers for social reasons. Four in five co-workers interviewed reported that they turn to other members at the co-working space for help or guidance.
5. Work-Life Balance
Amazon was started in a garage and Startup entrepreneurs all over the world frequently opt to work from home during the first months in business to save costs. But chores, pets and post mail distract people working from home. Co-working spaces may help Startup entrepreneurs draw a clearer line between work and private life. “Many small business owners have found that the concept of co-working has helped them escape the issues that come from running a small business out of their home”, the office-space experts from Rockefeller Business Group Centers write.
For entrepreneurs who work more productively at night, co-working spaces may be the perfect solution as it enables creative minds to get work done whenever feeling inspired and motived without distractions. The F10 FinTech Co-Working Space can be accessed 24/7 and provides the flexibility not only Startups need to thrive.
For the existing and potential F10 community to benefit the most from the various stakeholders, F10 as THE HOME OF FINTECH is offering work and collaboration space for FinTech enthusiasts. Learn more about the F10 FinTech Co-Working Space.