Riga Powerhouse, winner of the MIPIM 2016 Open Stage Competition, is looking for partners to develop a global chain of Urban Powerhouses – branded coworking spaces for creative companies in revitalized industrial properties.
Riga Powerhouse is a real estate startup with an aim to develop a global chain of Urban Powerhouses – branded coworking spaces for creative companies in revitalized industrial properties. The chain of Urban Powerhouses will start with the pilot project Riga Powerhouse; each addition to the chain will be branded according to the city where the respective Powerhouse is located. Coworking 2.0 is the concept that will be implemented in each Powerhouse by offering isolated workspace for each creative company, but the social spaces, e.g. the kitchen, library, coffee places, meeting rooms, will be shared among all members. These spaces will serve as social hubs where people meet, ideas collide and new collaborations arise.
As shown by today’s patterns of developed countries, the future lies in the knowledge-based economy represented by creative companies. They are companies in industries which have their origin in individual creativity, skill and talent and which have a potential for wealth and job creation through the generation and exploitation of intellectual property. Therefore, in contrast to conventional coworking spaces, Riga Powerhouse will focus on creative companies rather than individuals and startups, thus gathering under one roof the critical mass of each city’s creative potential.
Riga Powerhouse’s ambition is to create a global chain of Urban Powerhouses; however it is planned to start with a stunning pilot project in Riga and subsequently scale up a chain in Europe – Oslo, Helsinki, Warsaw, Berlin, etc. Despite the fact that the project is in its early stage, there is already a strong support from European investors and developers who have expressed an interest to invest in Urban Powerhouse that would follow a successful pilot project.
Currently Riga Powerhouse is looking for cooperation with investors and developers who already own industrial properties in cities with at least 500,000 inhabitants or who would be interested in developing a chain of Urban Powerhouses together. Developing an Urban Powerhouse will generate additional 5 percent ROI compared to a conventional office building, and deliver 3-4x more turnover per square meter than conventional office space rent.
This year the MIPIM Open Stage Competition was won by Riga Powerhouse. Its representatives believe that participation in the MIMIP will be a significant cornerstone in search for partners. Winning the MIPIM 2016 Open Stage Competition has given Riga Powerhouse a chance to host an hour-long panel as part of the official MIPIM 2016 programme. The topic “High Return on Creative Investments: Coworking 2.0” will be discussed on March 17, 16:00-17:00 Blue room, Palais 3.
MIPIM 2016 participants are welcome to join Riga Powerhouse’s Open Stage panel “High Return on Creative Investments: Coworking 2.0” on March 17, 16:00-17:00 Blue room, Palais 3. After the panel, everyone interested is welcome to join the networking event at Riga City stand hosted by the moderator of the panel – Riga Powerhouse Developer Edgars Ivanovs.