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Raum is a german word.
In German we have the same word for ROOM and SPACE = Raum.
We think this term is helpful when we talk about the concept of a MediaLab because we have to tell what a MediaLab represents.
The space does not only mean one with physical borders like walls. It can also mean the borders in a non-physical frame. So maybe Raum is a better term than "room" or "space".
We use the term Raum in an appropriate manner when we do not make a difference between the "virtual"/non-physical and "real"/physical any-type-of-space.