March 10, 2022
NewFlex, an operator of flexible offices and “space-as-a-service” solutions with fifty sites across the UK, has been appointed to curate and manage the incubator and innovation workspace community at the landmark London office 22 Bishopsgate. To be known as The Exchange (branded as XCHG) and specifically targeting start-ups, scale-ups and SMEs, the c.14,000 sq ft flexible office and co-working space on level seven will be NewFlex’s most significant space as-a-service project to date, aiming to create a bespoke environment that fosters innovation.
As part of an agreement between 22 Bishopsgate and the City of London, fifty of the memberships within The Exchange will be reserved as incubator space for small businesses with high growth potential. Qualifying businesses will receive a 50% booking discount against market rates, allowing them to access a quality of workspace, amenities and proximity to a broad range of types of size and sectors of business that would otherwise be unavailable to them. Qualifying companies must have been trading for less than five years, employ fewer than 10 staff and exhibit a high growth potential.
Occupying the entire seventh floor at one of London’s most sustainable new buildings, which stands 62 storeys tall, The Exchange will also provide a members lounge with views across London, meeting rooms and events space, media suites for content production, such as podcasts and video recording, streaming and editing, as well as a 60 seat auditorium that will host an ongoing programme of workshops and talks, designed to help businesses accelerate their growth.
As part of the new offering with NewFlex, The Exchange’s members will also be able to access a new app and online community designed to build an ecosystem where ideas, content and advice can be shared amongst entrepreneurs, innovators, SMEs and start-ups. The Exchange will work on a membership basis with different tiers available dependent on member access preferences.