A hackerspace (also makerspace) is a physical space implementing an emergent model for economic activity. It also (importantly) serves as a sanctuary for those of technical bent. It traditionally uses an ad-hocratic form of governance.
The ideal hackerspace has:
radical tools available for individuals to make things (like 3-d printers, laser cutters, etc),
a presentation space for people to demonstrate what they're working on (including novel projection devices), and
lots of brilliant minds moving in and out of it, forming a nexus of innovation.
It facilitates a nascent Gift and Barter economy and encourages new, post-Industrial livelihood.