"Space-as-a-service" provider NewFlex has been assigned to curate and manage the incubator and innovation workspace community at 22 Bishopsgate.

The Exchange XCHG will be a c.14,000 sq ft flexible office and co-working space on Level 7 aimed at start-ups, scale-ups, and SMEs.

NewFlex has 50 sites across the UK but this is their most major space as-a-service initiative to date, aiming to create a bespoke environment that supports innovation.

As part of an agreement between 22 Bishopsgate and the City of London, 50 memberships within The Exchange will be reserved as incubator space for small businesses with high growth potential. Qualifying businesses will receive a 50% booking discount against market rates, allowing them to access a quality of workspace, amenities and proximity to a broad range of types of size and sectors of business that would otherwise be unavailable to them.

Qualifying companies must have been trading for less than five years, employ fewer than 10 staff and exhibit a high growth potential.

Occupying the entire 7th floor at one of London’s most sustainable new buildings, The Exchange will also provide a members lounge with views across London, meeting rooms and events space, media suites for content production, such as podcasts and video recording, streaming and editing, as well as a 60 seat auditorium that will host an ongoing programme of workshops and talks, designed to help businesses accelerate their growth.

The Exchange’s members will also be able to access a new app and online community designed to build an ecosystem where ideas, content and advice can be shared amongst entrepreneurs, innovators, SMEs and start-ups. The Exchange will work on a membership basis with different tiers available dependent on member access preferences.

Steve Jude, CEO of NewFlex commented: "We are delighted to unveil The Exchange – a new era of flexible membership-led spaces to suit the modern working world. As we emerge from the pandemic, many people are looking to re-engineer their work-life balance. We believe that The Exchange is part of the solution to finding a new way of working. Our vision is to create a new inclusive community where creativity and ideas can flourish, giving SMEs and entrepreneurs who crave flexibility the right environment to grow their businesses. All of this is underpinned by a truly world-class development and team, where every aspect from holistic wellbeing to sustainability has been considered from the outset."