A new collaborative downtown workspace launched Tuesday promises to be a haven for startup tech companies looking for more office space, without the administrative hassles so often attached to it.

TheCodeFactory, the city's latest 'business incubator' space at 246 Queen St., is the brainchild of Klondike Marketing's Ian Graham. He's also a startup coach, a member of the Ottawa eBusiness Cluster Executive and chair of the CMC Technology Committee.

He said the idea was a natural one after talking to many in Ottawa's business community.

"I call it an exercise in 'lean innovation,'" said Mr. Graham, in a statement. "When you're trying to get a new venture off the ground, you don't need the distraction of negotiating an office lease, getting telecommunications services set up, or employing a receptionist."

Occupants of the space are asked to sign a 12-month lease at executive-suite level rental rates. The space features a coffee bar, Internet access and private offices, as well as a communal workspace.

Though Mr. Graham acknowledged similar initiatives have been launched in Ottawa before, he said the CodeFactory possesses several advantages over previous incubators. "They're often part of a government bureaucracy that involves costly consultants," he said.

"Too little of the financial benefit ends up in the hands of the entrepreneur for whom it's intended," continued Mr. Graham. "Nor do they provide the kind of networking opportunities that we can deliver."