We asked RocketSpace’s CEO Duncan Logan to tell us about what it’s like to cowork in his facility. Here’s what he had to say.
The whole focus of RocketSpace is to create an unfair advantage for the technology companies within. The initial phase is to create a real estate platform that focuses on attracting the best technology startups from around the world into a single location.
From day one, RocketSpace has only allowed technology companies that have already received a seed round of funding into our space. These unique requirements ensure a level of quality within the community as well as ensure that companies are focused and under similar pressure on deliverables.
The second phase is in driving the programs that help accelerate the startups to achieve what would normally take years to do within months. These programs leverage RocketSpace’s position in the Silicon Valley ecosystem as well the tactical relationships formed with strategic corporates.
The people in RocketSpace are as passionate about technology and innovation as we are. They appreciate the oversupply of technical infrastructure we provide and the all-inclusive model we run. We don’t want any distractions to the companies innovating at speed. We don’t want companies worrying about add on costs or nickel and dime-ing for services and, as such, we make them all unlimited and inclusive.
The RocketSpace model is not to get the tenant into the space and then work out as many services as possible that you can sell to the tenant. We don’t pay rent to a landlord; we revenue share to ensure we can stay focused on quality. We receive an average of 3-4 applications per day but still keep our growth modest to ensure we maintain the quality standards.
Our IT network is critical to our business and that is why we have invested in more than $250,000 in the best fully redundant infrastructure possible. It is overkill for what we need, but it is the backbone to our passion.
The quality and high aspirations of our tenants are essential. It’s infectious, it’s competitive, and it sets a high bar for achievement.
Finally, the quality of the events we host are key, in the next 3 weeks alone we will host Ron Conway, Sequoia Capital, and Andreessen Horowitz to help inspire the companies by some of the best names in the industry.
My advice to anyone starting a co-working facility is to focus on who you want your customers to be and then tailor your solution to their needs without compromise.