As home to the largest number of startups per capita in the world, it’s hardly surprising that many of Israel’s budding entrepreneurs have embraced the dynamism and flexibility of co-working spaces for the boundless opportunities they provide. But Israel isn’t merely jumping on the bandwagon. Israeli entrepreneurs have spawned some of the world’s most prominent co-working companies, including the ubiquitous WeWork, leveraging Israeli ingenuity and innovation to support vibrant startup ecosystems around the world.
It’s easy to see why startups and the co-working culture go hand in hand. Both are about disrupting existing business models through innovation. With the flexibility that co-working spaces provide, members have more room (figuratively and literally) to move around, change desk spaces, change package plans, change work hours, and maybe even change companies, all at prices tailor-made for companies at different stages.
Here’s a closer look at how three co-working companies with Israeli roots have helped reimagine the modern global workplace:
While co-working’s impact is most obvious in how it has reshaped the employee work experience, its effects are also felt in key industries, including commercial real estate. The co-working model helps companies lower costs for acquisitions, facilities management, and leasehold improvements, highlighting how co-working can have a positive effect on the bottom line.
Since WeWork’s founding in 2010, the number of co-working spaces worldwide has skyrocketed from only 600 to almost 19,000 – a more than 30-fold increase. As millennials and Generation Z come to dominate the workforce, the opportunities for collaboration, networking, and flexibility that co-working spaces provide will probably continue to make the communal office space even more popular. As the global movement for more community at work gains steam, it will be powered in large part by Israeli innovation.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.