Ownspace marks one year
Dwarka said, the idea of creating a co-working space and community of engaged entrepreneurs evolved as a place to create the conditions of success and grow an entrepreneurial ecosystem.
The partnership that developed has evolved over the last three years beginning with a deep exchange of information, and sharing of resources and capabilities across two continents, she added.
In terms of the challenges they faced during the first year of operations, Marks highlighted the difficulties of achieving a sustainable revenue model, especially since the initiative is tasked with providing the value expected of economically-challenged entrepreneurs.
“We knew that we needed to meet the economic needs of budding professionals while remaining sustainable in an already constrained economic climate and if successful, the model could prove significant for other developing economies like our own, while operating in Guyana’s economy bore risks when it came to offsetting our operating expenses. There was much pivoting that was done over the year-long period to finally arrive at a sustainable revenue model that preserved our low membership rates,” he explained.
“In short, we found strength in community as part of this recipe and bartered services with our resident members while exploring a form of techrelated income through data entry services to arrive at a sustainable model. We are happy to announce that 11 months into its operation, weOwn space made its first profit and the future looks very promising from here on in,” he added.
Looking to the future, it is their hope that they will be able to document the findings of the weOwn space model and encourage support from the relevant agencies to replicate this project in other areas of Guyana and later, other economies that are similarly disadvantaged.
“In the next five years or so, we expect many other social impact programmes and initiatives to emerge from the weOwn space ecosystem and as a result, a thriving entrepreneurial community and stronger economy,” Marks said.
Those who are interested in learning more about weOwnspace can do so by visiting the website at https://weown.space/ or on telephone numbers (592)616-2075 and (592)-6415808. The company is located at Lot 3 David Rose and Aubrey Barker streets, South Ruimveldt Gardens, Georgetown.