Forty Chicago technology companies and 250 individuals pay for round-theclock access to common areas and huddle rooms within 25,000 square feet on the 15th floor of a skyscraper across from the Sears Tower. In any given month 300 reps from outside companies pass through for meetings and networking. “Most co-working facilities suck,” says Howerton, 40. “Too many freelancers and not enough growth.” Since opening in January 2007, 157 startups have flourished at TechNexus, including Flowerpetal.com, which sells $8 million worth of flowers each year, and Open Kernel Labs, whose virtualization software powers 1.5 billion wireless devices. TechNexus companies have raised $74 million in capital.
The space is a living diorama of the startup life cycle. The common area attracts one- and two-person companies, while more established companies rent desk space inside the glass-enclosed room just right of the welcome desk.
Full text: The Rookery - Forbes.com
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