Breaking news from Crain's blog for Chicago entrepreneurs:
By Steve Hendershot
(Crain's) -- There's a twist to the latest communal office space for Chicago tech startups: This one is run by the entrepreneurs themselves.
Catapult Chicago launches today and plans to house 12 to 15 companies in 12,000 square feet on the 25th floor of 321 N. Clark St. Catapult's existing tenants vote in new members only if they're convinced the aspiring tenants have market potential and will add to Catapult's collaborative ethos. Tenants will pay $500 for an office that accommodates four or five employees, or $1,000 for an office that could accommodate up to nine people. Companies can occupy no more than two offices before they outgrow the space.
Catapult's co-founders are three young tech entrepreneurs: Ryan Leavitt, 26, Vishal Shah, 27, and Kris Chinosorn, 34. Mr. Leavitt is running Catapult's day-to-day operations, while Mr. Shah (CEO of VLinks Media) and Mr. Chinosorn (CEO of MentorMob) serve as the initial tenants, along with four other companies — StyleSeek, Tech.Li, Afiniate and 5Degrees. Catapult itself is a nonprofit and does not take an equity stake in its member companies.
Read all the details -- plus a Q&A with Catapult Chicago co-founder Ryan Leavitt -- on Crain's blog for Chicago entrepreneurs.
Copyright 2012, Crain's Chicago Business
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Steve Hendershot is a Chicago free-lancer who writes Silicon City, Crain's weekly column on Chicago tech news and newsmakers. Follow him on Twitter: @stevehendershot.
Follow Crain's small-business editor Ann Dwyer on Twitter, too: @AnnDwyer_Crains.
