GigaOm July 23, 2009, 9:00PM EST

How Co-working Is Working in Portland

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Friedman, who says access to investment capital is a major limitation of doing business in Portland, also hopes to attract investor partners to NedSpace. Both Friedman and Grimes have experience starting and raising funding for businesses, and Friedman says they have successfully connected four member startups with angel investors. "I know who works hard," he says.

According to Friedman, the company has been profitable since its third month and will open its second Portland location in August. NedSpace is also seeking to expand its efforts further, with plans to open a third Portland location and a Seattle space in the months ahead. In the future, Friedman envisions NedSpace as a YCombinator-meets-co-working arrangement and is currently seeking an Entrepreneur-in-Residence to staff the Seattle location and provide advice to member companies.

The Hive: Co-working as Culture

The latest addition to the Portland co-working scene, the Hive, is set to open on Sept. 1. Other co-working spaces are independent businesses, but the Hive is part of the Leftbank Project building in which it's located. A new green building in Portland's Rose Quarter district, the Leftbank features a wide range of office spaces for sustainability-minded businesses, such as software startup FMYI, Upright Brewing, consulting firm Blue Tree Strategies, and several green-design firms. The building is a veritable rabbit warren of like-minded businesses, and the Hive is an attempt to capitalize on that, says small-business consultant Christian Allen.

"It wasn't started as a business idea; it was more of, how can we feed this vision? How can we create more community?" says Allen. "I think it will definitely be challenging." Still, the Hive is well-positioned to compete in the Portland market. It provides the basic co-working amenities, with a green twist and competitive rates: Individual dedicated desks, which include access to community tables and conference rooms, go for $350 a month.

Allen says the community will also play a large role in establishing a long-term business model for the Hive. As needs arise, Allen says members will collaborate to create self-sustaining solutions for themselves.

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