Innovation In The CoWork Community

In some companies, big time resources go towards cross-team and cross-sector collaboration efforts. Why? Because it stimulates innovation and makes goals easier to reach. The best thing about co-working is that collaboration is already baked in.

Information Silos

In many large corporations information gets locked up in isolated departmental silos. So marketing has no real idea what sales wants or needs. This leads to the duplication of efforts which wastes resources. For the early stage life science, healthcare, or medical company the problem is a bit different: limited exposure.

Not Living In A Bubble

When you work intensely to meet a product development deadline, you might miss key opportunities along the way. In a co-work environment you’re never isolated. Instead you’re immersed in an ecosystem. This means the constant free flow of ideas between actors of different sectors that can benefit each other.

The dream scenario might be a deliverable produced by a life science company that meets a designer that makes the delivery device all brought to market by a savvy healthcare startup that wedges the product into a bundled healthcare package. Whew!

Yes, the advantages can be this real. But there are many other ways members benefit from a co-work community.

Sharing Insider Info

Sometimes simple data can make life much easier. For example, getting a tip on a good software might save lots of resources. Insight like this can be very time consuming to find on your own. But when you’re a member of a community, all eyes and ears become yours too.

Two general categories of co-work benefits are:

Greater scope of information – You’re not limited to just your team. Multiple sectors, working intensely side-by-side, will naturally cross pollinate ideas. Solutions used in one sector can often be adopted and modified to solve another member’s challenges.

Greater depth of information – Expertise regarding strategy, tactics, and operations can be exchanged and shared. While you may have a firm grasp about product testing, you might stumble upon someone at a much higher level. A co-work space provides access to first hand deep knowledge.

GroupThink

As time passes, each member earns their reputation. The tech guru, the business brain, the science geek…everyone knows who they can go to for answers. Regular seminars and presentations can offer another avenue to this dispersion of ideas and info.

Not So Scary

When collaboration is more formal, there are barriers that must be broken before real work begins. There’s positioning and posturing and perhaps even a sense of animosity.
In the co-work ecosystem, the innovators are there because they want to be there. They know it’s a prime spot for creative thought and making connections. Nobody twists your arm to collaborate, but rather it springs forth spontaneously. Needs find resources and questions find solutions – in a faster more organic manner.

Be a part of the most innovative co-work space in Austin. We’re home to cutting edge medical, healthcare, and life science enterprises. Contact Us.

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