The Chase for Flexible Space – Demand Outstripping Supply Creates Development Opportunity
NEWS - 28 Nov 2022
COHORT Innovation Space (Cohort), Economic Development Queensland’s coworking, innovation and lab space at Lumina is the ‘space’ to be for health tech entrepreneurs with the next ‘big idea.’
Cohort was established to create a commercial cluster of high-growth start-ups in the healthtech sector and to act as a catalyst for early industry attraction into Lumina, the Queensland Government’s commercial development within the Gold Coast Health and Knowledge Precinct. Since opening its doors in 2019, it has been expanded three times to become one of the largest innovation spaces in Queensland. In 2021, Cohort was crowned the ‘Queensland State Development of the Year’ by the Property Council of Australia, and subsequently received its national Government Leadership Award.
Cohort Innovation Space is dedicated to contributing to Australia’s start up growth by helping existing and aspiring founders
Cohort is a vibrant 2,500sqm development that is dedicated to nurturing South East Queensland’s start-ups by providing entrepreneurs physical office and lab space, flexibility, business programs, and access to professional networks.
Offering flexible short and long term workspace it includes over 40 coworking desks, private offices for two to 12 people, an AI lab, PC1 and PC2 scientific labs, a 150-person event space, a podcast and live streaming studio and a full time Community Manager and Program Manager.
Its purpose-built setup promotes collaboration and interaction within the wider Gold Coast Health and Knowledge Precinct that houses some of Australia’s leading health and technology facilities including Griffith University, Gold Coast University Hospital, Gold Coast Private Hospital and future life sciences commercial developments within Lumina.
The unique programs on offer at Cohort have helped launched multiple innovative ideas
Since its opening, Cohort has housed more than 260 digital health professionals and start-ups that benefit not only from co-location with health and technology leaders but from the tailored mentoring and business development programs Cohort offers, including:
Start-ups and scale-ups attribute their success to their experience at Cohort
The unique ecosystem created by the highly successful innovation space has been essential in supporting technology company Datarwe’s rapid success since relocating its HQ to Cohort in 2020. Datarwe’s Chief Technology Officer Dr Kelvin Ross credits the company’s success to access to core facilities within Cohort, such as the purpose-built AI laboratory, and co-location with core partners such as Griffith University.
“Being part of a supportive and talented community where you are always meeting new people in collaborative spaces is really important.,” Dr Ross said.
Lumina meets demand for flexible space, collaborations, programs, and co-location
Cohort’s tenancy waitlist reflects the growth in demand, and buildings with a high percentage of flexible space are increasingly seen as viable investment propositions. While some of the demand continues from start-ups and micro-businesses, there is significant demand (and opportunity) for growing and scale-up companies that have outgrown their initial space. These companies are looking for progressively larger office spaces to accommodate their teams.
Lumina is the Gold Coast Health and Knowledge Precinct’s final development stage, and the only opportunity to secure premium commercial land or lease offices and labs in this rapidly evolving centre of innovation. With an engaged community, a hotbed of innovation and access to programs to scale business growth, these final land releases in Lumina will be secured quickly.
With various first grade commercial developments currently under construction or in planning, Lumina has leasing opportunities from 90m² up to 4,000m² – providing ideal space for health, research, technology, laboratories, medical specialist suites and commercial office tenants.