THE IDEA
utopic_US is an innovative and transforming initiative shuttle; we want to transform society generating projects that last in time and add social, cultural or environmental value.
THE COMPANY
Utopic_US is the referent company in Spain on projects that put together innovation, collaboration, creativity and entrepreneurship.
Established and financed with capital from only two partners, utopic_US has proven on its trajectory that it is possible to grow economically and at the same time developing different, innovative projects. In 2010 it opens its first collaborative space on a 1000 m2 building in central Madrid. During the first year it grows form 8 co-workers to 80, and in 2011 a second space is opened to accommodate a larger number of co-workers. These entrepreneurs grow by size and utopic_US expands its offer with independent offices that are also part of the co-working community.
In 2012 the first gastrobar, the B_US, is opened and the team is enhanced, developing new services for entrepreneurs and enterprises through the Colabmarket.com platform; before the end of that year, the team launches a new company, Zinc Shower. The first edition of Zinc Shower, which was held in spring 2013, becomes a success with 5,000 assistants and a large number of collaborating companies. Two further editions have been held, improving the formats and endowing the event with a more international outlook.
In 2014 utopic_US focuses on two new projects – the 1,400m2 green entrepreneurship space, to be opened by late 2015, the It’s Faber Time project, focused on digital manufacturing, which already has an e-commerce website, and its pilot Fabcafé, which will be opened soon. In summer 2015 the workspaces are refurbished and the team is increased, so as to take up new opportunities for growth.
Utopic_US searches new investing partners through Bolsa Social on a collaborative way, coherent with the values of the company; which will join utopic_US project to gain thrust on new business opportunities and expansion.
Our activity up to now can be summarized on the following achievements:
- More than five years’ experience in coworking with a renowned brand, on an attractive, growing, business model. Spaces with up to 2300 m2 on shared areas, independent offices, two gastrobars, and conference and events rooms.
- Three editions of Zincshower (event to connect investors to innovative projects), with important repercussion on media and continuing success with more than 15,000 assistants, 250 projects, 50 Zinc Pro stands, +400 inspiring activities in 10,000 m2, 800 speakers, 150 investors, 29 marketing partners, 10 institutions and 10 sponsors.
- Opening of a new space of 1,400 m2 at central Madrid, dedicated to Green Entrepreneurship, in collaboration with Fundación Biodiversidad. Utopic_US is in charge of the management and operations.
- The company It´s FaberTime (itsfabertime.com), financed up to 50% by utopic_US. An online community and a marketplace with content and products related to digital manufacturing, as well as several physical points that combine digital manufacturing (such as 3D printers), formation and cafeteria, with the first pilot FabCafé in Madrid, that belongs to the Fabcafe.com global network.
- A new company, Asesor_US, financed up to 60% by utopic_US, which supplies tax, legal and accounting advice to professionals and companies.
- New business opportunities on growing sectors, taking advantage of the growth of the CO culture (collaborate, cocreate, connect, share), industries, CCI´s and green entrepreneurship.
- Diversified business with several sources of income: rent of spaces, events, gastrobars, consulting, education, services for companies, digital manufacturing and new projects.
- More than 15,000 direct entrepreneur clients through utopic_US, It´s Faber Time, Zincshower and Colabmarket the collaboration social network.
- Contact network: wide range of media partners at a national level, and expert’s collaborative network from innovative areas, entrepreneurship and ICC´s, public institutions and foundations, as well as brands and the departments of diverse sectors and areas.
BUSINESS MODEL
The group utopic_US uses its own growth to generate complementary and multiplying business lines between them and also diversify the sources of income. In the first place, it expands its service portfolio to entrepreneurs as well as companies: commercialization of spaces, counseling services, education, innovation consulting and events, among others.
Secondly, it performs vertical development on a sectoral basis, inside creative and cultural industries as much as other areas like environmental sustainability or 3D digital manufacturing. Finally, geographical extension by opening new spaces, firstly in Spain and in Europe and Latin America in a second phase
The development of this three way strategy has led to several business lines up to now:
- Income for the exploitation of spaces: renting of working areas and offices, meeting and education rooms, rent of spaces for events, gastrobars…
- Innovation and collaboration consulting to companies and institutions.
- Associated services: virtual office (call reception service and tax residence), fees for counseling services (fiscal, accounting, legal and finance among others) to professionals and companies.
- Creative events on innovation and entrepreneurship: own events through Zincshower, as well as organized events for other companies: hackatons, creative events, entrepreneurship activities, and collaborative online and offline experiences.
- Income for the sales of 3D printers and consumables, contents, workshops and events through It´s Faber Time.
MARKETING STRATEGY
From the first years of activity of utopic_US, the marketing strategy has focused on an intense planning of activities, education and networking on different areas related to creativity, culture, collaboration, technology and entrepreneurship. This way, a larger number of entrepreneurs and companies are attracted, as well as the approach on the community to encourage mouth to ear on co-workers, assistants and collaborators for the activities.
The investment on brand communication has been essential for the development of the companies of the group utopic_US, betting on the creation of collaboration networks and agreement generators, and value content for all targeted public to which the lines of business are directed to.
Apart from this continued activities´ planning and the constant commitment on Project communication, we also make online and offline marketing campaigns, intermediation agreements with companies, specific actions on segments and specific collectives, and other commercial actions directed to expand contacts and prospects network.
MID TERM GOALS AND GROWTH MILESTONES
- Expansion of utopic_US physical spaces: in 2016, launch of a new space of more than 1,400 m2, focused on green entrepreneurship and creation of new coworking spaces in Barcelona and Milan. In 2017 we´ve planned a second capital share increase, to continue with geographic expansion in Europe as well as in Latin America, and being able to continue the development of the group’s business lines.
- Development of the innovation and collaboration consulting offer.
- Desarrollo proyectos ya iniciados como It´s FaberTime, Colabmarket.com y Asesor_US.
- Development of already launched projects such as It´s FaberTime, Colabmarket.com and Asesor_US.
- Growing of Zincshower: events on other cities, project incubators, distribution of Zincshower contents, branded content agency and new services.
AWARDS
- 2014: COAM award for the best Ephemeral Space Design to Zincshower.
- 2014: Award for the 100 best ideas of the year from Actualidad Económica to Zincshower.
- 2014: Creative Business Cup at Copenhagen, international contest with the presence of projects from 45 countries, chooses Zincshower to participate as representative from Spain.
- 2015: Award “E” from Entrepreneur to utopic_US.
GRANTS
Education Program Erasmus + from European Union in 2015 for the Green Mentorship Program to entrepreneurs from environmental area. Utopic_US is coordinator of the project in collaboration with other institutions from Austria, Ireland and Hungary.
Grants from the Ministry of Culture on the investment on capital, to increase the legal offer of digital contents in internet, and promote modernization and innovation of ICC´s, given to utopic_US in 2011, 2012 and 2014; and to Zincshower in 2013 and 2014.
MARKET AND GROWTH POTENTIAL
The target audiences to which the companies in utopic_US are directed to are, freelance or independent professionals, entrepreneurs, micro-companies and startups.
CCI (Cultural and Creative Industries) offer a high potential as innovation process detonators, activating resources, knowledge and creative talent. Furthermore, since it’s a very intensive sector speaking about work, its development offers a new perspective based on creativity and know-how.
Although our initial positioning is on cultural and creative areas, we´ve always encouraged the existence of varied professionals and companies, because we tend to creativity on its widest sense, and as a fundamental and differential factor to guarantee the success on any business project.
The coworking movement is growing in Spain as well as on a global level, motivated by several factors such as the change of working organizational patterns and as an answer to an economic and values crisis situation, where sharing and collaborating prevails over competition.
Growth perspectives on utopic_US business line are high, because of the general growth of entrepreneurship culture in Spain and Europe, as for the rise of Co culture (co-create, sharing, collaborate).
Specially with the project It´s Faber Time from utopic_US group (digital manufacturing sector), as the study ‘The Future of Smart Fabrics to 2021’ determines, for digital manufacturing industries and 3D printing, a growth of 26% is estimated for the year 2016, which is risen up to 30% on the period of 2016-2021.
COMPETITION
On each activity sector there are reference companies such as Impact Hub and Betahaus (coworking), Oppino and Barrabés (innovation consulting), South Summit and Salón Miempresa (entrepreneurship events), FabCafé Barcelona and MarkerspaceMadrid (It´s Faber Time), and a wide variety of companies and institutions in the consulting services area (services for companies) more atomized due to the importance of the proximity of the customer.
COMPETITIVE ADVANTAGE
There are different initiatives on innovation and collaboration environments, aimed to freelance, entrepreneurs, startups and companies, but none of them cover all the areas that utopic_US does. This allows us to create synergies and cross-sales between the projects and business lines developed.
utopic_US has been a “first mover” on the coworking market, and currently counts with the strength of its experience and the advantage of a renowned brand on the sector after five years of work. This last years we´ve participated on a notorious way in all the events and conferences related to the sector, in Spain as well as Europe, and we´ve made bonds with the main actors and coworking spaces in other countries.
Size on a coworking space does matter, and utopic_US has experience on managing big spaces of more than 1000 m2 for around 150 coworkers. The biggest reason is that the clients or coworkers search a big community where they´ll be able to perform networking with several disciplines. Size also includes economies of scale, especially on human resources and implicated team on the management of spaces, which leads on a bigger possibility to generate profit.
Utopic_US projects differ from others on its ludic, social approach. We are one of the few, if not the only coworking space that integrates a gastrobar on each space, as an entrance door for the ordinary citizen, and as a perfect place to encourage social gathering and social interaction.
Specifically on Zincshower´s “meeting show”, the ludic and creative outlook of the event and its value proposition is a key element that has contributed to consider it a reference meeting point in Spain for innovative projects.
Another competitive advantage is corporate culture present in the utopic_US projects The collaborative approach and the diligence on the decision-making allow us to quickly adapt to the environment and develop new initiatives on a short term. Also, the wide talent net and collaborators allow us to distribute the resources on each project, as well as making prototypes and pilot tests inside the entrepreneurship community.
ASSIGNEMENT OF FUNDS
The capital share increase will be aimed towards four lines of business: launching of new coworking spaces in Madrid (1400 m2 dedicated to green entrepreneurship) Barcelona (2000 m2 creative industries) and Milan, growing of Zinc Shower, innovations and collaboration consulting, and development of the projects in which utopic_US participates, such as It´s FaberTime and Asesor_US.
EXIT STRATEGY
The business model of utopic_US is being requested internationally and many entrepreneurs have contacted utopic_US to export it. The company expects its first leap forward to Italy and in 2018 find high growth spaces. Cities were development grows strong and makes our model suitable. We´ve had contact with cities on a high growth, were they need this kind of spaces to receive foreign investment and boost local entrepreneurship. For this growth, we will value the possibility of finance agents such as Multilateral Agencies such as World Bank, IADB, Asian Development Bank (ADB) and new capital share increase that will allow new capital movements.
From 2018, investments in Madrid and Barcelona will begin to grow and a payment of dividends to the partners will be done, with the payout objective of 25%.
