The Triangle region of North Carolina is quickly becoming a goliath on the innovation and entrepreneurship scene across the nation. From top 10 rankings on numerous national lists to large IPOs and acquisitions, measurable results has been the name of the game lately.
Wednesday, August 7th 2013, is going to be one of the days that ends up on a timeline of “how it happened.” Capitol Broadcasting Company and American Underground announced that they will be opening their third location in the heart of downtown Raleigh. Almost simultaneously, HQ Raleigh (formerly HUB Raleigh) announced a move to the Warehouse District that will nearly quadruple the amount of space they have.
Hold on. Stop the press. Shut up and read that again – the two largest entrepreneurial focused spaces in the region both announced big plans for expansion on the same day. Try telling me again that it is not worth paying attention to the Triangle?!
While these plans for growth are individually positive, what is the impact from a macro-level? Can Raleigh (or Triangle) have too many co-working spaces? Is it possible to have too much density?
Some may differ in opinion but I emphatically believe there is no such thing as “too much” when talking about density and growth. It is no secret that successful ecosystems are positively correlated (and sometimes caused by) to density of entrepreneurs, advisors, service providers, and investors.
Not only is there enough room in Raleigh for 2 co-working spaces, but there is room for 3-5 more. HQ Raleigh currently has a long waiting list of potential members. American Underground (AU) has filled up 2 locations in Durham very quickly. For all the economic minds, this is a classic case of market demand driving increased supply.
I am looking forward to spending time with both HQ and AU@Raleigh. Whether it is office space, events, or the casual conversation, I don’t see a reason to “pick sides” or pledge alliance to one side or the other. This isn’t a battle. It sure as hell isn’t a zero sum game.
To the community, I ask that everyone keep an open mind, embrace growth, provide value, and keep killing it. If it wasn’t for the individual entrepreneur or startup, none of this would be happening. Never forget that we own this city and this region. It is up to us to set the tone and execute the actions that will one day be written on the timeline of “How the Triangle became the most entrepreneurial region in the history of the world.”
Dream big and realize that we are living in a period of time that will be talked about for decades to come. Personally, I am glad that HQ Raleigh and American Underground @Raleigh will both be with us as we write the next chapters…
What do you think of each move? How do you see the region, community, and city of Raleigh being affected? Leave a comment or tweet me @APompliano!