Sup46 Says Goodbye to WeWork

Wework i sthlm

writer icon Tormod Birch     Ariann Laurin   |   Business     🕐 18. May. 2020

The Swedish Startup Hub Sup46 has for the past 10 months been renting a space at the WeWork offices at Regeringsgatan 29 in Stockholm, Sweden.

At the time the offices were brand new and were being used by Microsoft, Spotify, and Epicenter as satellite offices.

Sup46 found it to be a good fit for their young entrepreneur members.

Startup Events
The thought was that Sup46 should arrange a set amount of events to bring additional startups into the environment, but it did not turn out like that according to Sup46's CEO Sebastian Fuchs.

“Our old premises were open to guests and we had hundreds of events every year, which we did our own way. WeWork's premises are fantastic, but it was not possible to have more than a few events a month," Fuchs explained.

Leaving WeWork's Offices
The Swedish Startup Hub is now leaving the WeWork Offices to move to Skandiahuset på Tegelbacken 4a, near the Sheraton Hotel.

The new offices are much more like the ones Sup46 had been using pre-WeWork.

“We get 1 000 square meters half a staircase up from the entrance floor, three minutes from Central Station. Here we can be ourselves and in many cases, our companies can halve their rent,” Fuchs explained happily.

A pivot of the business idea
Sup46 had themselves been renting out office spaces as their main income but had at a later point chosen to pursue the membership business model which they now use.

“Many companies have grown and moved on to other premises. But many are applying for membership right now,” said Fuchs.

He added: “We focus on what we are good at, namely bringing together exciting people, arranging events, networking meetings and helping entrepreneurs get in touch with investors, customers and other like-minded people. If we invest in the content of the membership, we can also support more entrepreneurs, wherever they are.”

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