Technode reported this week that WeWork Labs in China has partnered with Alibaba’s cloud computing unit help entrepreneurs grow their businesses in Greater China and overseas. According to the report, “under the new arrangement, the two parties will introduce eight co-branded labs spaces across the country in 2019 in cities including Beijing, Shanghai, Hangzhou, and Shenzhen.”
Asia’s coworking market has been booming with action since early this year. Most recently, Philippines-based coworking operator KMC Solutions announced that it received investment from Singapore private equity firm ASEAN Industrial Growth Fund. According to Deal Street Asia, the KMC solutions received an undisclosed amount of money that it will use to fuel its growth plans.
The National Real Estate Investor published an interesting article this week in which it states that coworking operators now face increased competition from hotels and multifamily operators. According to it, this new type of player is “now capitalizing on the coworking trend, integrating coworking as part of their customer experience.” Coworking operators are seeing increased competition from hotels, REITs, restaurants, and pubs.
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The Commercial Cafe recently published a post with ideas on how coworking and flexible workspace operators can encourage networking among members. Community is a key pillar of coworking and people find value in nurturing authentic relationships in the workplace that can lead to new professional opportunities. Check out 10 ways to encourage networking in your space here.