A question many entrepreneurs tend to face during their early days is whether accelerators or coworking spaces benefit them more.
To determine which is best, let’s first identify the role of coworking spaces and accelerators for you to know how each works and how they would add value to you:
First of all, you have to apply to an accelerator. Once accepted, the program typically lasts for approximately three months and would include a workspace for the team, a financial seed injection, mentorship, and networking opportunities. Beirut has quite a few accelerators such as Berytech, UK Lebanon Tech Hub, and Speed@BDD.
The spaces are created to enhance the ability to interact with others. They are an alternative solution to the isolation that work-at-home professionals and independent contractors frequently feel. They are places where you may meet brilliant and inspirational entrepreneurs who can help you strategize, share insight, and provide networking opportunities. Some co-working spaces constantly have workshops, events, and seminars to help entrepreneurs turn their startups from ideas to reality. Most of them offer affordable rent from daily to monthly contracts with access to necessary office amenities such as Internet, printers, and conference rooms. There are quite a few co-working spaces and startup hubs in Beirut such as Berytech’s DigiHive, Alt-City, Beirut Digital District.
Another thing to consider when finding or creating the right workspace for you is to consider the physical space since it largely impacts how you do business. Innovative, modular office furniture tend to encourage collaboration and foster vibrant office cultures. You can check Start by CrownHouse in Beirut who specialize in this field.