Co-working giant WeWork has formed a new partnership with local tech nonprofit Beta.MN to establish a new program that provides a collection of Twin Cities startups with free workspace, the two organizations announced Thursday.
The new initiative, called Beta/Space, will be housed in WeWork's Capella Tower location in downtown Minneapolis. The program's participants will be provided with six free months of access to all WeWork sites, which includes perks like member-only events and discounted business software. After six months, the cohort of startups will rotate out and have the opportunity to continue their WeWork membership while a new group participates in the Beta/Space program.
WeWork runs similar free-workspace programs in other cities. The company's Veterans in Residence program provides free workspace to military veterans looking to form a startup. WeWork also has a program in Detroit that offers space and services to companies working in the transportation-technology industry.
The Beta/Space partnership is among the first of its kind in the Twin Cities, where the local co-working scene is becoming increasingly competitive. WeWork opened its first Minnesota office in October 2017, and announced plans for a second not long after. Two women-only coworking spaces, ModernWell and The Coven, debuted earlier this year. And Fueled Collective, formerly known as COCO, the Twin Cities' original hometown co-working company, announced plans to rebrand as part of a new franchising strategy. Spaces, a Dutch co-working business, also is expected to open in the North Loop this summer.
Initially the Beta/Space program will accommodate around 20 entrepreneurs, and has plans to expand in the future, according to a release.
"The need for space like this became more obvious after a few years of working with founders, investors and entrepreneurs trying to build a culture of innovation in town, but they were often running their businesses out of coffee shops or an office part," said Beta.MN Managing Director Nels Pederson in a statement. "Early-stage firms in these markets are eager to be around each other and pushing themselves to be successful."
Here are the eight initial startups that will participate in Beta/Space:
