Sprocket Inc., a nonprofit in Paducah, has announced it will officially open its new coworking space on Thursday.
The approximately 9,000-square-foot facility, located in the Coke Plant, will provide workspace for tech-enabled companies, small businesses, entrepreneurs, freelance workers and corporate off-site work space, according to a news release.
“The space allows us to gather those with entrepreneurial ideas, technical expertise and business acumen all in one place. Doing this creates faster connections, stronger ideas, and a synergy you just don’t get in a solitary workspace,” Sprocket Executive Director Monica Bilak said, in the news release.
“We are creating jobs and growing businesses in a way that will allow companies and individuals to thrive in the digital economy.”
The cowork membership model allows companies and individuals use of private office space or open common area workspace. Sprocket said the benefits include private high-speed WiFi, “endless coffee” and access to networking and professional development events.
A business accelerator program, software development training, and an international startup competition will be held in the space to help benefit entrepreneurs and small businesses, according to the news release.
“Over time, we realized that we need more technology-driven companies here in Paducah and we definitely needed a physical space to anchor those new businesses,” John Truitt, board chairman of Sprocket, said in the news release.
“We don’t and can’t do this work alone. As a highly collaborative organization, we are experts at finding experts. Codefi, a rural development agency that helps communities build their digital ecosystem, is one such expert partner.”
Codefi, through its “1ST50K” startup competition, brought three new companies to Paducah this fall, according to the news release. Each company’s founder will share about their company at a ribbon cutting.
Sprocket said the space, which is funded in large part through a forgivable loan from the city of Paducah and donations from McCracken County Fiscal Court and McCracken County Public Library, will have a “lasting impact on tech-enabled business growth.” Sprocket is one of six statewide Hubs for Entrepreneurial Development and receives operational support from the Kentucky Cabinet for Economic Development-