SPECIAL REPORT: Spacecubed has been at the vanguard of the growth in Perth’s startup community in recent years, with the social enterprise now operating about 5,000 square metres of co-working spaces and a range of accelerator programs.
Spacecubed has been at the vanguard of the growth in Perth’s startup community in recent years, with the social enterprise now operating about 5,000 square metres of co-working spaces and a range of accelerator programs.
That first space, recently renamed Riff, was 500sqm in a disused office formerly occupied by the Reserve Bank, with 20 member businesses signing up.
Mr McCulloch said the motivation had been to build the startup ecosystem in Perth at a time when self-employment was expected to become a more attractive option for workers.
“Our strategy was based on two major trends; that by 2020, 40 per cent of Australians will be self-employed, and also that knowledge workers will seek to work flexibly in increasing numbers,” he said.
“These two megatrends mean people will work when they want and where they want.
“They will also be looking for collaborative spaces where they are most productive, and part of a larger community.”
Spacecubed’s membership has grown to more than 1,000, while turnover quadrupled in the past four years and staff numbers increased to 16.
Similar concepts have sprung up across Perth.
A big step in Spacecubed’s growth was opening the Flux co-working space at 191 St Georges Terrace in 2016.
The space now includes the Core resources innovation hub and Combine agtech hub.
But Spacecubed’s offering includes more than just co-working spaces.
Accelerator programs, which mentor and support startup teams to improve their product and finetune business strategy, are an example, with Spacecubed participating in numerous such initiatives, including Plus Eight.
Through such programs, Spacecubed has invested in more than 30 startups.