In this exclusive interaction with StartupTalky, Mr. Sumit Lakhani, Deputy CEO of Awfis Space Solutions Ltd., talks about Awfis’ journey from a co-working startup to India’s largest integrated workspace solutions company. He explains their flexible workspace offerings for startups, SMEs, and large corporations and discusses Awfis’ exciting partnerships with IITs to support entrepreneurship. Lakhani also shares an inside look into the strategic milestones of Awfis, including the experience of the Awfis IPO and ongoing plans for expansion into Tier 2 cities. He also talks about his vision for the company and how Awfis is using technology to enhance its offerings.
StartupTalky: Give us a brief overview of Awfis Space Solutions Ltd and its evolution from a co-working space to an integrated workspace solutions platform.
Mr. Lakhani: Awfis Space Solutions Ltd. has evolved from a pioneering co-working provider to a comprehensive workspace solutions platform, meeting the changing demands of India’s modern workforce. Established with a vision to be the workplace of choice for the global workforce., Awfis initially focused on creating collaborative, flexible co-working spaces across major cities. This foundation soon evolved into an integrated platform catering to a wide spectrum of workspace needs.
Today, Awfis supports businesses of all sizes, including startups, SMEs, and large enterprises, by offering agile workspace solutions that range from co-working and enterprise-managed offices that cater to all their business and employee needs. Its ability to respond dynamically to evolving market trends—particularly the rise in demand from Global Capability Centers (GCCs) and Tier 2 cities—has fueled its growth and market reach. Through ongoing innovation and strategic expansion, Awfis has solidified its position as a leader in India’s workspace solutions industry, driven by a commitment to flexibility, scalability, and design excellence.
Awfis Journey So Far
StartupTalky: What types of flexible workspace solutions does Awfis offer, and how do these meet the different business needs of startups and large corporations?
Mr. Lakhani: Awfis delivers a broad spectrum of flexible workspace solutions tailored to the distinct needs of startups, SMEs, and large corporations. Our offerings include coworking spaces, managed offices, design & build solutions, mobility options, and a range of allied services. With a robust product portfolio and extensive network, we serve freelancers, entrepreneurs, startups, SMEs, and large corporations across India and Global Capability Centres (GCCs). Awfis’ solutions combine agility, scalability, and customizability, empowering startups to prioritize growth and equipping large corporations with dynamic, cost-effective spaces that seamlessly adapt to evolving business demands.
StartupTalky: How will Awfis support startup growth through its partnership with IIT Kanpur, IIT Bombay, and IIT Madras in flagship events like UpStart 2024, Eureka 2024, and Elevate 2025 with workspace credits and mobility solutions?
Mr. Lakhani: We are thrilled to empower the next generation of startups through our partnership with IIT Kanpur, IIT Bombay, and IIT Madras. As India’s largest flexible workspace provider, Awfis is dedicated to promoting entrepreneurial growth and supporting innovative ideas. Through this collaboration, we are offering winners 100 hours of workspace credits, 50 hours for runners-up, and a 25% discount on our mobility solutions, which include access to meeting rooms, day passes, virtual offices, and our Virtual Office Plus offering—each designed to meet the dynamic needs of early-stage businesses.
Born from an entrepreneurial spirit, this partnership underscores our commitment to driving innovation and supporting startup success. By providing flexible, convenient workspaces, we enable startups to focus on what truly matters which is disruptive ideas that will enhance India’s position on the world map. We are proud to support the startup ecosystem and look forward to the remarkable ideas emerging from UpStart 2024, Eureka 2024, and Elevate 2025.
StartupTalky: Awfis recently entered into a business transfer agreement with SMS Integrated Facility Services. Can you explain the strategic significance of this move for Awfis?
Mr. Lakhani: Awfis entered into a Business Transfer Agreement with SMS Integrated Facility Services Private Limited (“SMS”), for the divestiture of its Facility Management division – Awfis Care for a sale consideration of INR 27.5 crores. SMS Integrated Facility Services (SMS IFS) Private Limited, a Samara Capital company, is one of India’s leading pan-India integrated facilities management firms. Awfis will benefit from the expertise of a specialized player like SMS with their distinctive capabilities in people management, digital operations, and facility cost optimisation, while maintaining the highest standards of compliance and governance.
This move will reduce Awfis’ administrative overheads, and compliance requirements, and enhance operational efficiencies. Additionally, the transaction will be cash flow accretive, freeing up working capital and leading to improvement of the working capital cycle. This increased liquidity will provide the company with additional financial bandwidth to invest in growth and expansion.
StartupTalky: What is Awfis’ business model, and how does it differentiate itself in the competitive flexible workspace market?
Mr. Lakhani: We operate under two leasing models: Managed Aggregation and Straight Lease. The Managed Aggregation model, pioneered by Awfis, is an asset-light and risk-averse. In this approach, we partner with landlords/developers, who typically cover part or all the fit-out capital expenditure. Under the Straight Lease model, we lease space from developers or property owners under traditional terms. This includes a fixed monthly rental, common area maintenance charges, security deposits, minimum lock-in periods, lease tenure, and escalations. Awfis fully funds the capital expenditure for fitting out the property.
In Design & Build we partner with the clients and create designs as per their business requirements. We also offer Mobility solutions which include day passes, meeting rooms, and virtual offices suitable for freelancers and new entrepreneurs/startups.
Awfis Growth Strategy
StartupTalky: Who are your primary clients, and what has been the feedback from them regarding Awfis’ services?
Mr. Lakhani: We cater to a diverse client base, comprising 68% Corporate MNCs, 20% SMEs, 11% startups, and a small segment of freelancers. Our clients, both domestic and international, consistently commend the comfort and convenience they experience at every Awfis centre. With thoughtfully designed spaces that blend aesthetics and functionality, we enhance productivity and support employee well-being. Our vibrant community events further promote collaboration, conversation, and connection, creating a dynamic work environment for all.
StartupTalky: Are there any plans for expansion in terms of new locations or service offerings in the coming year?
Mr. Lakhani: We are driving expansion through both geographic reach and diversification of our offerings, introducing products and services that elevate client experiences, streamline business operations, and empower clients to focus on their core growth strategies.
Our plans include a stronger presence in Tier 2 cities, where the demand for flexible workspaces is steadily rising, providing businesses access to premium work environments outside major metro areas.
Across our portfolio, we are set to add 40,000 new seats by the end of FY25, further consolidating our position in this dynamic market. This growth is propelled by the rising demand for flexible workspaces, a thriving startup ecosystem, and the robust expansion of Global Capability Centres (GCCs).
Awfis India’s Largest Flexible Workspace Provider
StartupTalky: Can you share insights into Awfis’ financial performance since its IPO? How has the share price reacted to the broader market trends?
Mr. Lakhani: Since our IPO, we have demonstrated consistent and growth-oriented performance. Revenue from operations has increased by 37% year-over-year, while operating EBITDA surged by 56%, resulting in an operating EBITDA margin of 30.7%.
Our successful IPO reflects our commitment to financial prudence and strategic growth. Over the past year, we launched 50 new operational centres, adding 33,641 seats. This represents a year-over-year growth of 43% in operational seats and a 40% increase in operational centres. Notably, 10% of these new centres are located in Tier 2 cities, highlighting our ongoing expansion strategy in these emerging markets.
Post-IPO, Awfis’ share price has demonstrated robust growth. As of November 5, 2024, the stock closed at INR 728.80 on the NSE, reflecting a significant increase from its listing price.
StartupTalky: What strategies did Awfis implement during its IPO process, and how have they contributed to the company’s current standing in the market?
Mr. Lakhani: Clear, open, and most importantly planned communication has been a cornerstone of our organisational growth. We regularly organised town halls to ensure that every teammate at all levels, is informed and aligned throughout each aspect of the business.
Before the official IPO process began, we had an offsite where in an open forum we laid out our IPO mission. This was followed by a leaner growth meeting with next-in-line leaders to chart out a strategic short-term path and long-term metrics. A core IPO team was formed to adhere to and drive the process. Navigating the IPO process required strict adherence to regulations, complete transparency, and timely stakeholder communication.
Our external advisors were instrumental in assessing IPO readiness, shaping our narrative, and building investor confidence. Well-coordinated roadshows generated significant interest, while our legal counsel ensured compliance with regulatory standards, simplifying the complex documentation process.
Founded just nine years ago, Awfis was the first company in the flexible workspace sector to go public, facing unique challenges and without any precedents to guide us. At that time, coworking was still an emerging concept and had yet to establish its significance in the real estate market. Our oversubscription of 108 times not only provided a substantial boost to the flexible workspace industry but also solidified our position as a trusted leader, enhancing investor confidence.
Today, Awfis stands at the forefront of India’s coworking landscape, recognized for its diversified portfolio, extensive network, and transformative impact on the flexible workspace sector.
StartupTalky: How do you envision Awfis evolving in the market following the IPO, and what growth opportunities do you foresee?
Mr. Lakhani: The growing startup culture, the rise of Global Capability Centres (GCCs), and the increasing demand for flexible workspaces—preferred by both modern employees and corporations for enhancing productivity and promoting employee well-being—have solidified the position of flexible spaces within the commercial real estate sector.
As the only publicly listed player with the largest network in the country, Awfis stands out as the preferred provider of flexible workspaces. Our robust growth in the flex space industry is further underscored by the overwhelming success of our IPO, which was oversubscribed by 108.56 times. This achievement has enhanced our brand visibility, boosted investor and market confidence, and reinforced our status as a leading and trusted flex space provider in the commercial real estate market.
Awfis Team at the IPO Launch
StartupTalky: How does technology play a role in enhancing the services provided by Awfis, especially in the context of hybrid work environments?
Mr. Lakhani: Awfis offers a comprehensive suite of services within a diversified product portfolio, including TechLabs, where the company has developed advanced IT protocols and cutting-edge technology infrastructure. These measures not only safeguard sensitive information but also shield clients from cybersecurity threats.
Awfis integrates smart access and visitor management systems for enhanced on-site security, ensuring seamless tech-driven operations. In addition, the company provides advanced technology support through Data Center solutions, Cloud Computing, Network Solutions & Integration, Client-Side Computing, and a full range of Software & Hardware solutions. With robust cybersecurity solutions and a fully functional digital workplace, Awfis enhances efficiency and confidentiality for clients. Through user-friendly mobile apps, tenants can easily book workspaces and access services, elevating the overall experience.
StartupTalky: As the Deputy CEO, what is your personal vision for Awfis, and how do you plan to lead the company towards achieving its goals?
Mr. Lakhani: We recognize that the future of work requires a blend of flexibility, adaptability, and innovation. Today’s demand for commercial workspaces is driven by a diverse ecosystem of large corporations, mid-sized companies, small businesses, and startups. The IT sector, historically the dominant consumer of these spaces, now shares that demand with IT offshoring, Global Capability Centres (GCCs), BFSI, and India-focused IT companies.
Additionally, post-pandemic demand for flexible spaces has tripled, a trend we expect to continue given the appeal of convenience and customization—placing us in a strong position for growth. Our Design & Build solutions allow us to craft spaces tailored to meet clients’ unique business, aesthetic, and employee requirements.
Meanwhile, our mobility solutions empower freelancers, new startups, and solopreneurs with flexible, ready-to-use infrastructure that supports their specific needs in a hassle-free manner.
We want to build a transformative workspace ecosystem that not only promotes innovation and collaboration but also drives sustainable growth for businesses across India. Our aim is to expand across India, reaching every corner to empower entrepreneurs with a platform for growth and innovation, becoming integral to India’s growth story. This comprehensive approach will enable Awfis to continue evolving as a leader in the coworking space industry, delivering value to our clients, communities, and stakeholders alike.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
Coworking spaces provide flexible work solutions for diverse professionals. These hubs foster collaboration and creativity in response to the rise of remote work. They cater to individuals and small businesses with shared infrastructure and cost-effective options. The industry’s adaptability makes coworking spaces integral to the evolving work landscape. They continue to play a pivotal role in shaping modern work dynamics.
The coworking space industry is projected to reach 41,975 spaces by the end of 2024, experiencing an annual growth rate of approximately 21.3%. A forecast for 2021–2025 predicts a market increase of $13.35 billion, reflecting an 11% annual growth. However, the pandemic led to the closure of 21.76% of coworking spaces, underscoring the industry’s resilience despite challenges.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Robin Chhabra, Founder and CEO of Dextrus, We delved into understanding how Dextrus operates within the coworking space industry by exploring their strategies and gaining insights into their unique approach and positioning in the sector.
StartupTalky: What service does Dextrus provide? What was the motivation/vision with which you started?
Robin Chhabra: Dextrus offers office spaces as a service. We design, build, and operate premium office spaces for our clients. Our vision has been to bring a high level of design thinking to office space requirements, as it is an ever-changing landscape where flexibility and quality are key.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of Dextrus?
Robin Chhabra: We have expanded to give enterprise office space where we design and custom-build office spaces curated to the minutest details for our clients.
StartupTalky: How has the coworking space industry you are in changed in recent years, and how has Dextrus adapted to these changes?
Robin Chhabra: COVID caused most companies to look at our model more carefully and see resonance in our offerings. Clients’ requirements change over time as they grow and need flexible office solutions. They also don’t wish to have the headache of overseeing these needs as it distracts from core functions. Our prowess in design and high service quality has helped address both those needs.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the coworking space industry?
Robin Chhabra: We keep pushing the boundaries of design and service quality as we want to be the best in the business and hence focus mostly on that.
StartupTalky: What key metrics do you track to check Dextrus’s growth and performance?
Robin Chhabra: Occupancy levels are to be maintained at high levels, and customer satisfaction and good seat pricing are to ensure profitability.
StartupTalky: What were the most significant challenges Dextrus faced in the past year, and how did you overcome them?
Robin Chhabra: Hiring is our most significant challenge as we grow. Good talent who can be intrapreneurial. We focus internally on our team members via flexible policies as well, as we hope that we will spread the word that we are a good company to work for.
StartupTalky: Good service is something everyone is talking about in the service industry. How does Dextrus ensure that its clients are happy?
Robin Chhabra: Feedback is important, and learning from that feedback is as important.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Robin Chhabra: Quality, Quality, Quality is the only focus. Word spreads, and that brings the clients.
StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?
Robin Chhabra: We look for companies that are well established; they can be foreign or domestic. Foreign companies understand what our model can offer and come with experience using it abroad, hence making it easier to close deals, though Indian companies are fast catching up post-COVID.
StartupTalky: What are the important tools and software you use to run Dextrus smoothly?
Robin Chhabra: We use Google Suite, Asana for task management, and Slack for internal communications. All of these talk to each other. We have also built applications using a Google platform to help operate more efficiently. We use Tally and Zoho Books as well for accounting-related matters.
StartupTalky: What opportunities do you see for future growth in the coworking space industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Robin Chhabra: Enterprise workspaces have seen great demand in India, more than the rest of the world. Growth looks upwards, with coworking spaces will comprise of 10% of grade-A office space in the country soon.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Robin Chhabra: We continue to expand in Mumbai; once we achieve a comfortable size, we shall turn to the other major cities.
Before we begin to talk about coworking, why not brush up on some basics a bit? By the way, did you know that the first coworking space was founded way back in 1995? Well, that’s an interesting fact.
There is no denying that these spaces have come a long way now. However, the guiding principles, collaborations, and sense of community remain unchanged. The world has seen a tremendous change in working trends in the past 25 years.
An increasing number of the workforce now likes to get engaged in freelancing or contract work instead of sticking to the same organization. The world of freelancers has already grown and keeps on increasing every single day.
Now that professional lives have become mobile and people have the flexibility of choosing their own workspace, no one likes to work in isolation or at home. That is when coworking spaces come in handy. They create community hubs for all like-minded people where they can get together, collaborate, share ideas, and keep working independently.
So, if you want to capitalize on this growing and steady demand, consider starting a coworking space. While it is not an easy task, this guide aims to make the entire process easier and more organized. This guide covers everything you must know and should do to start a highly successful coworking space business.
There is no denying that the future of coworking is bright in today’s world. Numerous industry leaders and intellectuals have predicted the importance of coworking spaces in every industry during the current and upcoming times.
Moreover, the mobile workforce embraces the coworking spaces like no other. That is because they offer more than just affordable office spaces and necessary amenities. These spaces offer a place for like-minded individuals to create their ideas, resources, and network. That also helps everyone grow their individual businesses.
If you are a business or an enterprise thinking about starting a coworking space, now is the right time to do so. The interest in coworking spaces seems to be on the rise and so is the demand.
How to Start a Coworking Space (Complete Business Plan)
Now that we know about coworking spaces and the future that waits for the same, let us investigate the necessary steps that you can follow towards starting a coworking space business.
1. Knowing your intent
Firstly, figure out what made you decide to start a coworking business. Once you get the answer, it will be easier for you to focus on the main goals. Moreover, you need to focus initially on the benefit instead of profit to keep running the space smoothly. The arena that you are going to create should aim at bringing all the talented people together.
2. Study the demand for coworking space business
You need to investigate whether your coworking space has any demand in the market before aiming for anything bigger. That decision should be taken before you buy any furniture or sign a lease for the space.
You can also create a group on social media and host some events to promote interest in the same. That will not only help you do some necessary groundwork but also help in building a strong online community. That will serve as a marketing avenue for your coworking space.
3. Deciding on your framework
The business model for coworking space falls under different categories. You need to pick either of them depending on your circumstances.
Private offices
You can always rent out private offices within your coworking space to maximize your income. You can also put on an advertisement for the same while inviting all the creative and talented people to come under a single space.
Business space
If you are someone having a business with some unused office space, then you can surely set up a coworking space there. It will also help you prevent some of the maintenance costs and office setup expenses. The main advantage here is the extra amount of money that you will earn apart from the one coming from your already established business.
Private space
You can always partner with another person like a café or a property owner to start your coworking space. You can approach certain pubs, restaurants, or cafes that can act as coworking spaces during closing hours. That will not only bring the owner some extra income but also give the fruition of your labor.
Public space
Looking for an untapped goldmine within your city? Your local city council may prove to be one! You can discuss with the members about the space and funding opportunities and see if that aligns with your idea.
Events
You can always host events within your coworking space that can provide you with a revenue stream. That is also another way of making your space more visible to the public eye. You can always host meetups, film nights, and events of a similar sort to promote your brand further.
4. Financial Model for Coworking Space
It is essential for you to have sound financial planning ahead of starting your coworking space. Moreover, make sure that you are aware of all the legal registration and insurance matters related to the same. The most important things that you need to focus on are structuring your fee schedule, financing your coworking space, and tasks of a similar sort.
Finance
You need to first decide how to finance your coworking space before beginning with the work. You also must decide whether you will be investing your money or will approach investors. You will also find many other good funding sources like family members, friends, local government bodies, business contacts, and more.
Price structure
You must place your price structure based on time. It may be a daily, weekly, monthly, or even yearly rate. You can reward the users who book your space for longer periods. You should always request advance booking to avoid loss if the person doesn’t show up later.
5. Economically viable way
It is always recommended to make your plan economically viable to make a profit in any business. The same applies to the coworking space business. You must try integrating as many services as possible into your coworking business. That will make the users spend more money on the same. For instance, you can either set up a cafeteria, a gym, or even a sauna within the area.
Once everything is ready, you should now put your entire focus on attracting people. Start running paid ads on different social media platforms to let people know you’re open. You should design your marketing strategy after knowing where your target audience hangs out the most.
Besides running ads for your coworking space on multiple platforms, you can also launch some excellent influencer marketing campaigns to spread the word faster. Hiring a performance marketer for this task would be a better option.
But what if you don’t have enough marketing budget? Well, there is still a way out. One great way to market the coworking space at zero marketing cost is by cold pitching to your target audience on Facebook.
Join Facebook startup groups that are for professionals working in your business location. After joining, track all the active members in the group who show interest and visit startup events, and pitch them to your workplace. It will require significant time and energy, but the returns will be worth it.
It’s all about targeting the right people from online communities, striking a conversation, and making an appealing pitch. You can start by quickly striking up a conversation with them and later introduce your coworking space. It can appear like a tedious, long process, but it works.
Conclusion
Coworking is a great place for socializing. It can not only enrich your daily life but also help you exchange ideas with other people. Apart from that, you can stay up to date about the latest trends and share work at times. Financially, it is the most advantageous business that helps you share resources, pay bills, and meet interesting and talented people.
FAQ
How profitable are coworking spaces in India?
If you build a concrete business plan it is likely that your coworking business will become profitable after two years in operation.
How do coworking spaces work?
Coworking spaces act as a shared workspace where the business offers office space for companies or freelancers who are looking for a budget-friendly alternative to a full-fledged office.
What is the future of coworking spaces in India?
The future of the coworking space industry in India is growing rapidly and is expected to reach $2.2 billion in 2022.
WeWork was once hailed as the fourth highest-valued startup in the world after giants like Uber. It took on to the startup world through its idea of co-working spaces, which became really popular in a very short span of time.
As its name indicates, WeWork offers office spaces for various businesses and entrepreneurs to pursue their work at a cost that is far lesser than what they would have had to spend if they were preparing a workspace from scratch.
WeWork was founded in 2010 and it was valued at $47 billion at its zenith. One of the major reasons why WeWork worked was because of the responsibilities that the business owners can leave out by renting workspaces from this start-up.
However, since the announcement of its initial public offering in August 2019 the company has received a lot of criticism. Furthermore, it also became the victim of humongous losses due to the onslaught of the coronavirus pandemic, post which it was valued at $9 billion. Following that the company postponed the IPO indefinitely and two years later in March 2021, it announced that the company is going with the merger with BoX Acquisition Corp, which is still pending, as of October 2021’s reports.
WeWork – Latest News
October 21, 2021 – WeWork will finally go public. The company is all set to list its shares in the New York Stock Exchange as soon as this week.
October 6, 2021 – WeWork India appointed Megha Agarwal as the new Head of Marketing. Furthermore, it elevated Raghuvinder Singh Pathania to the Head of Community, India, who is also the Head of Operations at WeWork India. Besides, the new role of the Head – Digital Products is handed over to Dharam Mehta.
October 1, 2021 – WeWork launches Growth Campus, which is deemed to work in line with WeWork Labs. With the help of this new initiative, WeWork plans to encourage the world of startup companies to get access to workspaces at subsidized rates.
WeWork has successfully created an image wherein they posed themselves as a technology driven startup even though their basic level rests upon real estate. It is only in the development of a particular workspace that they deploy technology and not necessarily in the ways of doing business in itself.
However, that is not how WeWork portrays itself to the world or to their investors. This is because of the fact that these days technological companies tend to receive funds rather than non-technical ones.
The valuation of the WeWork has proved this correctly. Even though it does not make any profit or have a stable cash flow it is still valued way above its counterparts, whose valuations are not even half of that of the WeWork even though they have better profit and cash flow.
Hence, the way it portrays itself has a significant role in helping the startup to gain value.
Business Model of WeWork
One of the major partners of WeWork is entrepreneurs and small business owners who want office spaces for various purposes related to their organisation at a very cheap rate. Some of these people may not even need the spaces for a long period of time.
WeWork has suitable packages for all these kinds of people. The ones who rent out space from the work need not worry about any kind of bills or maintenance or connectivity. All these are handled by WeWork in itself.
As far as business owners are concerned this in itself is a huge advantage for them. The fact that it will cost more than double of the rent that they have to pay for the work, had they had to set up a workspace like the ones offered by WeWork.
On the other hand, as far as the people who lease these work spaces to WeWork are concerned, they prefer the ways of the organisation. It is because WeWork takes large work spaces for lease for at least 10 years and then they divide them into smaller work spaces and rent it out to other businesses.
Here, the owner will always prefer entering into an agreement with one organisation for a long duration than with multiple small buyers for a short duration of time. This also means that they will be able to keep track of the transactions and focus on other businesses in a better manner. They need not worry about finding a tenant or dealing with too many agreements at the same time.
The requirements of rework and the demands of the lender matches along with the needs of small businesses. In this way all the three partners do their business smoothly in all regards.
WeWork has launched Growth Campus on October 1, 2021, with an aim to encourage the startup ecosystem. The company is starting this new initiative with an investment of around $3 million, as of the latest reports, and will extend its workspaces to budding companies and startups at highly subsidized rates.
Revenue of WeWork
How WeWork is Making Money Through Renting
Although the nuances of WeWork look sophisticated at the end of the day it is an office space renting company. Majority of its revenue comes from renting of spaces to people.
They take in real estate spaces from owners for lease and then convert them into smaller work spaces and common areas. They devise their packages in such a way that it suits all kinds of people.
Sometimes these areas are as small as per room or maybe even a floor. It can also be as large as a whole building in a prime location. Independent freelancers and workers who require office spaces with better connectivity only for a small duration find the services offered by WeWork the most advantageous.
From small businesses to big companies like OnePlus, have rented office spaces from WeWork. The rising of shared office culture was also a great advantage for WeWork and it has undoubtedly contributed to its success.
Conclusion
Over the years WeWork has been experiencing severe losses due to their carefree approach and improper planning. The only reason why WeWork continues to survive is because of its high valuation and funding that it received purely due to the way they portray themselves as a technological company.
They have also tried to expand their niche beyond work spaces. They have a very attractive state of the art architecture in spaces in prime locations which significantly adds to their value and an elite image.
WeWork can at the same time be an example for how a business should put themselves in front of others and also how not one should plan their initiatives. Their strategies and models have got a lot to learn from.
FAQ
How does WeWork make money?
WeWork generates revenue by renting office spaces to businesses and companies.
What is the valuation of WeWork?
The valuation of WeWork is $9 billion, as of October 2021.
Who is the founder of WeWork?
WeWork was founded by Adam Neumann and Miguel McKelvey in 2010.
The role of startup accelerators is increasing in startup communities throughout the world. A startup accelerator is also known as a seed accelerator. It is a business program that supports startup companiesthroughfinancing, mentorship and education. The accelerators have the potential to improve the outcomes of startups and to spill these benefits into the wider startup community. You must be wondering like What is an accelerator? How do startup accelerators work? How do startup accelerators make money? etc. Don’t worry, we are going to answer all these questions in this article.
Y Combinator was the first independent startup accelerator that was started in Cambridge in 2005. Later, Paul Graham moved this into Silicon Valley. After its success, startup accelerator programs started to grow swiftly across Europe and the United States. It includes Seedcamp (2007), Techstars (2006), Startupbootcamp (2010), Tech Wildcatters (2011), and Boomtown Boulder (2014).
The popularity of startup accelerator programs increased in the US and Europe. Seedcamp, Startup Bootcamp, and Startup Wise Guys are the top-rated accelerator programs in Europe. In April 2012, Forbes presented an analysis of startup accelerators. According to that, there was a significant growth of corporate accelerator programs since 2010. Around one-third of startups received accelerator funding models through the accelerator program by 2015. Some large corporations have created their own accelerator programs. They focus on specific categories, but it follows similar principles.
With the emergence of the COVID-19 pandemic, many accelerators such as Y Combinator, SOSV’s family of accelerators and BEAMSTART have shifted their approaches by running most of the programs and Demo Days online.
Startups need to submit an application to join an accelerator. Once the application is approved, the accelerator will give services and resources such as advising hours, shared coworking space, guest speakers, and a negotiated amount of capital. The average term period of a startup accelerator model is 3-4months. Also, the ownership of the startup should be around 3-8%. The help of an accelerator ends with a demo day or graduation after startups present their work and move forward independently.
Startup Accelerator Business Model
Biotech, tech hardware, and AI are the popular sectors of the startup accelerator business model. Also, so many brands have got support from accelerators. Play Tech Center and the Silicon Valley accelerator Plug have assisted PayPal, Google, and Zoosk to convert their ideas into businesses. Y Combinator is another popular accelerator. They released Dropbox, Airbnb, and Reddit. A startup accelerator named Techstars has sponsored more than 21 startups.
Characteristics of An Accelerator Program
Startup accelerators, also known as seed accelerators, are fixed-term, cohort-based programs that include mentorship and educational components and culminate in a public pitch event or demo day. These are the 4 factors that make accelerators unique from other startup institutions such as incubators, seed-stage venture capitalists and angel investors.Accelerators can give useful resources to organizationsat all stages of development. But most accelerator programs are focusing on pre-revenue. To qualify as an accelerator requires a number of characteristics. The characteristics of a startup accelerator are given below.
1. It is a fixed-term business program with a start and an end.
2. It is a cohort of startups.
3. It includes a group of advisors to support the startup.
4. It is an educational program for the transferring of acquired knowledge.
5. It is a selection process, so the cohort of startups is considered the best.
Accelerators provide two types of knowledge where mentors pass the tacit knowledge from what they have learned over the years and the acquired knowledge is transferred through training sessions, workshops, and other structured education. Startup accelerators offer acquired and tacit knowledge through the combination of structured education and mentors. It has efficiency for the transferring of the value it creates by forming a group of startups.
The accelerator chooses the best startups from a large number of applicantsand brings those startups together in such a way that corporations, investors, and others can meet them. It also chooses and brings a group of mentors who give knowledge, advice, and new contacts to startups for development. The accelerator provides a diverse network with a wide range of experience and knowledge.
This group works as a class at a university that allows delivering one lesson to a group of startups at once instead of delivering lessons to individuals multiple times. It focuses on participants who form an ecosystem around the accelerator and provide an opportunity for them to meet a group of startups at once instead of finding and meeting them all individually.
It is provided to overcome the lack of knowledge and networks of startups. Accelerators aremainly funded by corporations, government agencies, or investors to identify and support new innovations. The startups make returns in the form of investment returns, economic development, and new technologies.
An accelerator program mainly includes 6 processes:
Process of an accelerator program
Apply and Get Accepted
After submitting applications, only 1% to 3% of applicants get acceptedfrom total applications. During this process, the startups can interact with the operator and discover more details about them. Startups don’t have an obligation to join and accept the program until they sign any paperwork.
Get Funded
Money is one of the major reasons that founding teams and entrepreneurs selecting the accelerator path. Accelerators provide seed money to the company that ranges from $10,000 to $120,000. Although some have recently withdrawn the amount of funding they provide, they point to funding as a major obstacle to success as that may affect future fundraising activities.
Focus
A big advantage of this system is that it focuses on entrepreneurs. According to the Harvard Business Review, they are being dragged into the process for 3 to 6 months. This is an intense time, and participants are forced to focus and make progress.
Learn
Learning is a big part of the process. It includes opportunities such asseminars, workshops, and mentorship opportunities wherein it covers topics relevant to starting a venture, pitching practice, and the legal aspect.
Network
Entrepreneurs have ample opportunities to network with potential investors and other industry support providers, during the acceleration period. These connections are very valuable.
Demo Day
The process ends in graduation or on a demo day, where every startup in the cohort presents and pitches. This is the place for proving the time and experience invested by startups. Founders of startups usually include15 to 20 slides on their pitch decks as part of the presentation.
Efficiency of Accelerators
Accelerators bring the various groups of participants around their program and facilitate interactions between them very efficiently. They bring the best startups by running a selection process that includes an open and broad application process. The evaluation is done by respected individuals. The high quality of startup has an important value within the accelerator. It attracts investors.
Another major attraction of accelerators is the mentors. A mentor provides networks and tacit knowledge to the cohort. It makes mentors an important part of accelerators. Failure to ensure that mentors receive appropriate remuneration for giving their knowledge and time can lead to mentors losing interest quickly or failing to engage. The way of gathering startups together into one space and deal with them quickly in a fixed-term program, creating the same efficiency as a university collecting students into classes.
The efficiency of Startup Accelerator
Mentors are able to address all startups simultaneously, so that knowledge is effectively transmitted. Accelerators can provide a way to survey and filter out many innovators, such as startups, academics, or individuals. By choosing the best from the applicants, the accelerator makes a validated cohort of startups that are valued by others, such as investors and mentors.
The accelerator experience is fast, intense, and in-depth educational process aimed at shortening the years of worthwhile learning into a few months and accelerating the life cycle of innovative startup companies. A real accelerator has very specific identifiers. If you can access them, they can give you a lot of benefits. Not everything is created equal. There are so many differences that exist between the successes of the graduates.
Startup accelerators periodically select a batch of companies, usually in the same early stages of their lifecycle. In return for a small portion of equity, they offer advice, investor connections, and mentorship.
Is joining an accelerator worth it?
Most startup accelerators provide seed money in exchange for equity in your startup. So, if you are someone who doesn’t want to dilute the equity at the initial stage, going for an accelerator program will be a bad idea. However, there are few accelerators programs that don’t take any equity in the startups.
How do startup accelerators make money or how do accelerators make money?
The accelerator would charge startups by offering desks for rent. In a way, the accelerator is actually offering similar services to a co-working space. Alternatively, accelerators make money through offerings of training and consultancy services for startups, in exchange for money or equity.
What is a startup accelerator?
A startup accelerator is an organization that offers mentorship, capital, and connections to investors and business partners. It is designed for selected startups with promising MVPs and founders, as a way to rapidly scale growth.
What is the list of the best startup accelerators in India?
The list of best startup accelerators are as follows:-
Cisco Launchpad.
GSF Accelerator.
Microsoft Accelerator.
Indian Angel Network.
iCreate.
Google Launchpad.
Amity Innovation Incubator.
Angel Prime.
How do I start my own accelerator business?
Step 1: Found your own company or at least work at a startup.
Step 2: Participate in the community.
Step 3: Talk about the community.
Step 4: Invite the community in.
Step 5: Create a common space.
Step 6: Keep doing all of that stuff or even more, but faster.
Bangalore has gradually evolved from being the Garden City to the Silicon Valley of India. Being the centre of the country’s high-tech industry, it is on the verge of development. Coworking Spaces/Shared Office spaces are something that evolved with the need of the hour. It is an arrangement of sharing office spaces more productively and rationally. It not only saves costs but also provides convenience in terms of infrastructure and additional amenities. Find the list of top Coworking Spaces in Bangalore along with their pricing plans and additional facilities. The shared office space in Bangalore can have a significant impact on your business.
The city of Bangalore is widespread in varied coworking spaces with various facilities and work cultures. An attempt is made here to explore some of the coworking spaces in the city with a touch of detail and an overview of the same.
Top 30 Coworking Office Spaces / Shared Office Spaces in Bangalore
WeWork offices have a universal atmosphere. It is one of the best coworking spaces from the list of best coworking spaces in Bangalore. Whether you’re an established enterprise or a premature startup, your office space will drive your business forward. The choice of the right office space is essentially based on the requirements and cost of the concern. WeWork offers varied office spaces for rent to shared workspace in a communal atmosphere. It provides private offices, office suites, desks, meetings and discussion rooms and also sets up a headquarters. Some of the enterprise members include Spotify, HSBC, Pinterest, Deloitte.
WeWork – Pricing
The price structure of WeWork ranges invariably depending on the location, business requirements and the number of people. It can range from Rs. 5000 – Rs. 25000/month. For an in-depth view of pricing packages, their official site can be visited.
WeWork – Features
High-speed internet facility.
Full-fledged kitchen.
Security and Maintenance.
Streamlined billing process.
Events & conferences.
On-site support.
Flexible membership agreements.
Members’ network.
And many more. There are also add on facilities based on the location.
WeWork is spread across various locations in Bangalore, which includes – Bellandur, Koramangala, Marathahalli, Bannerghatta, Hebbal, Embassy golf links, Old Madras Road, etc.
BHIVE Workspace
BHIVE Coworking space in Bangalore
BHIVE Workspace is one of the top coworking spaces in Bangalore and it offers options not only for coworking but also helps in setting up one’s own office. It is spread across hundreds of thousands of square feet of commercial space which are offered in varied forms of office space such as customized furnished office, single desk, coworking space and a bare shell building. The main feature that sets it apart from various other coworking spaces is that it is budget-friendly i.e. one can enjoy the amenities and services of BHIVE based on their budget without much of a hitch. It positions itself as a zero brokerage office leasing platform.
BHIVE – Pricing
Facility
Range (In Rs.)
Shared Desk
5000 – 10000/month
Day pass
350 – 700/day
Meeting rooms
400 – 2000/hour
Coworking
4000 – 10000/Seat/Month
Furnished and customized office spaces
Based on sq. ft.
The prices are subject to vary based on the locations, amenities and taxation. To get a better quotation, it is worthwhile to contact the coworking office and get more information on the same.
BHIVE – Features
High-speed internet facility & WiFi-enabled premises.
Food & Beverages.
Security and Maintenance.
Meeting & conference rooms.
Full-fledged kitchen.
And many more. There are some special benefits for BHIVE members as well.
BHIVE is operational in various commerciallocations in Bangalore such as HSR Layout, Koramangala, Indiranagar, Residency Road, MG Road, etc.
Bangalore being a thriving market of entrepreneurial activity, the coworking spaces of 91SpringBoard are designed as fully furnished shared office space, where you can develop a network with people from varied backgrounds and experiences. It is the best coworking space in Bangalore and also conducts various events that help members in building networks. It not only provides coworking spaces, but also HR, Design and Accounting services, legal advice, digital marketing advice, etc.
It is expanded to various locationsacross Bangalore including Koramangala, MG Road, Indiranagar, etc.
91SpringBoard – Pricing
The pricing differs based on the location and services required. The prices may vary from Rs. 500/day – Rs. 12300/month. Detailed information can be obtained from their official site and contacted accordingly.
Bangalore Alpha labs are dynamic. The ambience of the space boosts up an air of inspiration in the minds of people. It aims to create a vibrant community of entrepreneurs, freelancers and startups. Their startup packages aim to help with branding and building the company. Privacy being the main concern of many, it also has amenities for private office cabins and conference rooms that can be rented on an hourly basis. The chances to work and collaborate with many others is high. These labs are located near Koramangala and JP Nagar in Bangalore.
Bangalore Alpha Lab – Pricing
Plans
Price
Private office
Rs. 20,000/month
Guest Access
Rs. 1000/month (5days)
Virtual membership
Rs. 1000/month
Full membership
Rs. 4000/month
Hot Desk / Open plan
Rs. 250/day
The prices are subject to changes based on location and any external or internal factors.
Bangalore Alpha Lab – Features
High-speed internet facility.
Flexible seating.
Security and Maintenance.
Mail handling.
Lounge/Chill-out area.
Refreshments & storage facility.
Various Membership benefits.
Bangalore Coworking Hub
This coworking space in Bangalore provides varied amenities that cater to the needs of its clients. It aims in providing collaboration and networking platforms to its diverse clients which would include consultants, freelancers, startups, and emerging businesses. The striking balance between work and freedom to explore new ideas is achieved by this coworking space. It is located near HAL in Bangalore.
Bangalore Coworking Hub – Pricing
Plans
Price
Night membership
Based on availability
Part time/6-weekdays
Rs. 1500/month
Conference rooms
Usage basis
Full membership/monthly pass
Rs. 3800/month
These prices may vary based on availability and usage basis. Some services may differ based on the type of membership availed.
Bangalore Coworking Hub – Features
High-speed internet facility.
Employee parking space.
Security and Maintenance.
Mail handling.
Pantry facilities.
Workstation furniture.
Virtual office space.
Coworks
Coworks – Coworking space in Bangalore
Coworks provides a completely customizable office space that suits the clients’ needs. One can access diverse facilities from private studios, flexible desks to custom-built office spaces. To seek an office address in the heart of the city with access to business hubs, airports, their six centres are strategically located across the city which includes Indiranagar, Yehlanka, Eco World, Koramangala, Residency Road and Whitefield.
Coworks – Pricing
Coworks charge a flat fee based on features that allow you to budget and scale. No per member pricing. No complicated wifi or hardware contracts. No hidden fees. Just pay for the tools you need.
Innov8 offers exquisite and beautifully crafted workspaces, where any individual or a team can connect to many, collaborate, and create an extensive community. It hosts people from diverse backgrounds such as entrepreneurs, freelancers, employees and startups enthusiasts.
Innov8 is located in Koramangala which is a centre for many budding startup enthusiasts, young minds and an extensive network of relaxing zones nearby.
Innov8 – Pricing
Requirement
Starting price/person
Fixed Desk
Rs. 10499/month
Meeting room
Rs. 800/hour
Hot desk
Rs. 5999/month
Private cabin
Rs. 16599/month
Multi-utility space
Rs. 2000/hour
Flexi pass
Rs. 3999/month
Innov8 – Features
Meeting rooms.
Recreational zone.
Lounge area.
Cafe.
Pleasing ambience.
Community events.
Social Offline
This is another Best Coworking space in Bangalore. It is termed as a perfect blend of office and cafe. It combines play and works together. When you’re bored or just want a chilling and relaxing time, you can head towards the gaming area which is equipped with Playstations and many more. In addition to that, there are meeting rooms, high-speed internet, vast open play-work area with comfort enabled couches and chairs. This place also has an exquisite bar that offers a variety of delicacies and beverages.
This is a perfect place for anyone who wants to socialize and collaborate. It is located near Church Street in Bangalore.
Socila Offline – Pricing
Membership fees are around Rs. 5000/month/person. Details regarding private office and meeting rooms can be directly enquired based on availability and usage.
Awfis has become an integral part of the exciting journey of developing an innovative atmosphere for entrepreneurs by providing affordable and collaborative workspaces. They believe in the concept that startups need much more than just spaces, thereby innovating the concept of ‘Pro working’, which focuses on People, Proximity and Performance. They enable one to make just-in-time bookings for meeting rooms and work desks. One can enjoy a flexible and convenient work environment.
It is spread across various locations in the city, thereby providing the scope of doing business from a wide choice of prime locations in the city. It includes Indiranagar, Whitefield, MG Road, Outer Ring Road, Hosur, Adugodi, Residency Road and St. Marks Road.
Workshaala is like startup offices in Bangalore. It is a great place to experience productive workspaces with quality infrastructure and flexible office plans. It is committed to providing vibrant working spaces where ideas are born, nurtured, and transformed into a growing business. The core values that Workshaala abides by are quality of services, flexibility and ease of customized options and transparency in its working.
Workshaala – Pricing
The price ranges from Rs. 400/day – Rs. 18000/month based on the location and requirements.
It is spread across various locationsin Bangalore. This includes – Banaswadi, Koramangala, HSR NR Tower, HSR Sector 4 and Sector 3.
iKeva
iKeva offers a diverse community that offers benefits to businesses and entrepreneurs. It has been significant in establishing the concept of serviced offices and coworking places. They offer private cabins, meeting rooms, coworking spaces and virtual offices. It is located near Marathahalli and MG Road in Bangalore.
iKeva – Coworking space in Bangalore
iKeva – Pricing
The pricing varies from Rs.2500/month – Rs.9000/month based on services required.
iKeva – Features
Wi-fi access.
Power backup.
IT support.
Plug and play office space solutions.
Regus
Regus office space has a range of benefits that are designed to enable a business to flourish. The Regus community events, office suites along exclusive discounts from top brands in the Regus Marketplace is something that can be taken advantage of. You can also get access to a communal kitchen and chill-out zones. These offices are situated in the prime locations of the city which includes areas near Hosur Road, UB City, World trade centre, Embassy golf links business park, Brigade Road, and many more to cover.
Regus – Pricing
The pricesare based on location and the type of space needed like coworking, office space, virtual office, meeting room, membership, etc.
Kafnu is designed to encourage community interaction with an event area that holds private networking events, workshops, sessions with the speaker, etc. There are meeting areas with industrial and biophilic design, a morsel that is inspired by regional cuisines and a private office for personal and secure business conduct with sound insulations. All in all, it has a pleasing ambience that sparks enthusiasm and creativity. It is locatednear the Residency Road in Bangalore.
Kafnu – Pricing
The pricing varies depending on the desk and office that you want to choose, the number of people and time duration.
Kafnu – Features
Community network & events.
Flexible dining options.
Tech support.
Opportunity to host corporate meets and events.
Pleasant atmosphere.
Evoma
Evoma provides a combination of business incubation and collaborative office spaces. The atmosphere of this place suits the business doings. It offers video conference suites, a coffee cum bar shop, a restaurant, a collaborative workspace, and a health club that is sophisticatedly structured.
Evoma – Office for rent in Bangalore
Evoma – Pricing
The prices vary from Rs. 1500 – Rs. 4000/month based on need and requirement. It is located in four major areas in Bangalore i.e. Marathahalli, KR Puram, EPIP Zone Whitefield and Borewell Road Whitefield.
Investopad believes in allowing emerging leaders and entrepreneurs to develop their skills and access to business opportunities. Workspaces designed by Investopad caters for collaboration and offers a congenial work environment. It is the most flexible and stable place that one can experience in the city. It is located in the prime location of the city i.e. Koramangala.
Investopad – Pricing
Plan
Suitability
Price Range
Flexible
Suits small teams (Basically find an empty desk and start working)
Rs. 6000 for 30 days
Dedicated
Perfect for large teams (Permanent seats)
Rs. 8000 for 30 days
Commuter
Suited for individuals, freelancers, and digital nomads
Commune Coworks, is the place where you can draw designs, take calls, have brainstorming sessions with the support of tech and projectors. Commune accepts workers of varied genres, it has a well-designed dedicated space for conducting workshops, a shaded terrace, and a studio that helps stimulate a person’s mind by inducing productivity and creativity. All in one it has a pleasant working environment. Commune is located in the startup zone of the city i.e. Koramangala.
Commune Coworks – Pricing
Plan
Price
Individual hot desks
Rs. 7999/month
Dedicated desks
Rs. 11999/month
Private cabin
Rs. 12999/month
Day pass
Rs. 500/day
Commune Coworks – Features
Fully Equipped kitchen.
High-speed internet.
Training room.
Event spaces.
Security and maintenance.
Community membership.
Personalized lockers.
NUMA Bangalore
NUMA is an all in one package for any budding entrepreneur. It not only provides dedicated office spaces, meeting rooms, conference rooms, event spaces, private cabins but also spreads its services to startup acceleration and innovation.
Startup Huts understands the need for dynamism and thus provides two options within the coworking space. You can either choose a flexible space where you can share your space with others as well or you can go for a dedicated coworking space, which will exclusively be for you and your team. It offers a satisfied and full package to the budding entrepreneurs i.e. from registration of the company to mentoring and tech support. The conference rooms, lounges, dedicated cabin space, cabin walls, and desks are strategically placed to provide an effective and productive work environment. All in all, it provides a perfect ecosystem to work in collaboration.
It is locatednear Residency Road and HSR Layout in Bangalore.
Cowork Cafe is associated with providing the most relevant and valuable services to its members. If you are a person who likes working in a peaceful and calm environment, then this place would suit you the most. The inspiring and ready to use workspaces has everything that you need to grow your venture. These workspaces are deemed to be fun workspaces that are your home away from home. They not only provide a collaborative workspace but are also into Incubation (Help with IT, HR, Accounting, Operations, Sales & Marketing needs). It islocated near Sarjapur Road in Bangalore.
Cowork Cafe – Pricing
The price for a Resident Coworker is Rs. 5000/month and for Guest Coworker is Rs. 300/day.
Cowork Cafe – Features
Lockers and storage space.
Laptops on rentals.
3G/4G dongles on rental.
Meeting rooms.
Pantry.
Power Backup.
Smartworks
Smartworks are aware of the present workforce demands and their requirements for an office atmosphere, thus they are equipped with the latest technology to provide a hassle-free environment to its clients. The infrastructure and the design of Smartworks offices infuse productivity and a better work-life balance. Gaming and chill-out zones are also set up to calm one’s mind off the loaded work and have a peaceful time with oneself along with the like-minded people around. It is located near the Outer Ring Road, Miller Road, and Ashok Nagar in the city.
Smartworks – Pricing
The prices are personalized based on the customization and services availed. It is available on request.
Jaaga is India’s oldest coworking community. It has an open and green space, so if you hate Cramped spaces, then this might be the perfect place for you. It has a collaborative community of freelancers & entrepreneurs. It is located near Malleshwaram, Bangalore.
Jagga – Pricing
The prices vary from Rs. 250/day to Rs. 20000/month. They provide Gold, Silver, and Friend membership.
Stack-based collaboration and community engagement.
Internal mock pitch sessions.
Workflo by OYO
Workflo is a fantastic workspace powered by OYO. It exudes young and positive vibes to aid you to build a company that you dream of. Workflo offers shared working spaces that are tuned to meet the day-to-day business requirements. It is designed with dedicated desks along with a private workstation or private cabin. Furthermore, Workflo also offers facilities of meeting rooms, conference rooms that are available for rent. The model from Workflo that supports your business, trendy designs, smart and viable leasing options, and affordable prices make it a primary choice for the brands and businesses of today.
Workflo by OYO – Coworking space in Bangalore
Workflo has two offices in Bangalore – Umiya Emporium, Koramangala and KR Puram, ORR.
Workflo by OYO – Pricing
Workflo by OYO is smartly priced to suit your business needs. Besides, with the Early bird offer via the latest Flexi all pass, you can opt for any centres across India at just Rs. 2999/month and Rs. 7999 for 3 months.
Workflo by OYO – Features
Centralized AC.
High-speed internet.
24×7 tea and coffee.
Meeting rooms.
Dedicated cafeteria.
Easy accessibility to printers and copiers.
Convenient car parking facilities.
Along with Bangalore, OYO’s coworking spaces are also available in multiple locations including mega-corporate hubs like Hyderabad, Gurgaon, Chennai and Pune.
Novel Office
Get what you need for your office to grow amidst the bustle of Bangalore. Novel Office is distinguished as one of the most popular office space providers in the city. It offers a diverse range of office spaces that starts from 100 sq. ft. to 10,000 sq. ft. for offices of all sizes. Therefore, with the Novel Office, you can get the kind of space that is most suited for your business. Furthermore, it also allows you to rent smart coworking spaces and business centres if you need not rent office space.
Novel offices are located at multiple locations in and around Bangalore that includes Bellandur market, Electronic City market, HSR layout market, Indiranagar market, J.P Nagar market, Jayanagar market, Koramangala market, and Whitefield market.
Novel Office – Pricing
Novel office offers desks that start from Rs. 9000/month. You can also opt for a diverse range of spaces available for hire. The rate for booking meeting rooms starts from Rs. 3500/day. For more information regarding booking and the availability of spaces, check out their official website.
Novel Office – Features
Ready to use spaces for starting immediately.
Fully furnished workspaces.
Corporate ambience.
Flexible spaces.
Cost-effective.
24×7 working environment.
Quest Offices
Quest offices are among the most reliable workspaces and office service providers operating across the country. The growing world of business demands workspaces that are tailored to their needs, and Quest offices are equipped to fulfil their changing needs and boost their businesses. Whether one needs a coworking space, business centre, meeting rooms, or infrastructure that supports virtual offices, Quest offices are the only destination to help you get them all. It is one of the best choices for large and small businesses, individuals, entrepreneurs, and remote teams.
Quest offices is located at Raheja Towers at Mahatma Gandhi Road along with numerous other offices across the country.
Quest Offices – Pricing
Requirement
Price
Office Desk
Rs. 9000/month, Rs. 100/hour & Rs. 500/day
Private Cabins
Rs. 30000/month
Meeting Rooms
Rs. 1000/hour & Rs. 6500/day
Training Rooms
Rs. 3000/hour & Rs. 20000/day
For more information regarding Quest Offices and their package, check out their official website.
Quest Offices – Features
World-class infrastructure.
Fast and powerful internet connectivity.
Smart payment options.
Multiple offices at different locations.
Well-knit with the city.
Integrated cafeteria.
Funzone.
15+ years of experience.
Spacelance
Looking for coworking spaces and offices in Bangalore? Then, don’t worry because Spacelance Office Solutions brings the best spaces for hire that will let a company get the optimum facilities. Whether one needs a coworking space or plans to set up a virtual office, require meeting rooms, conference rooms, or other workspaces to empower varying business needs, Spacelance is the ultimate destination. Furthermore, Spacelance Office Solutions also offers virtual addresses, equipped with virtual landline numbers, numbers for faxing, live receptionist support with little investment.
Spacelance boasts of multiple offices in and around the country among which the offices at HSR Layout and Indiranagar are famous in Bangalore.
Spacelance – Pricing
Packages
Price
Basic Package
Rs. 1300/month & Rs. 13000 annually
Standard Package
Rs. 1500/month & Rs. 15000 annually
Ultimate Package
Rs. 2000/month & Rs. 20000 annually
In case you are curious to know more about Spacelance, its facilities and the prices in detail, then it’s best to dive into their website.
Spacelance – Features
Professional business address.
Excellent facilities for handling and forwarding mails.
Local landline number.
Live receptionist.
Fast and hassle-free company registration.
Access to meeting rooms.
Workafella
Workafella offers unique and amazing workspaces and coworking units in different cities around the country and is lauded for each of its spaces. The Bangalore city office of Workafella is located at Infantry Road. This Workafella office offers office terrace gardens, cafeterias, and excellent office spaces to work without at one’s own pace. Starting a day full of caffeine, stopping at the social hub for a quick conversation, and working at peace are some of the unique activities you can repeat days on end at Workafella.
Workafella – Pricing
Workafella offers offices and coworking spaces at affordable prices that suit the diverse business needs of today. Though the price mostly varies on the centres and their locations, it generally ranges from Rs. 550/day/person to Rs. 10000 -Rs.13000/month/seat.
Workafella – Features
Smart and flexible plans for all offices.
All-inclusive pricing packages.
A variety of office spaces to choose from.
24×7 accessibility and air conditioning facilities.
Security around the clock.
Complimentary meeting rooms and other amenities.
Easyoffices
Easyoffices is a brand reputed for its coworking and office spaces in multiple locations that include Bangalore, Chennai, Mumbai, Kolkata, Hyderabad, Pune, Gurgaon and more, around the country. With easy-to-use offices equipped with smart facilities and flexible payment options for all kinds of businesses, Easyoffices is the first choice regardless of the size and nature of businesses.
Easyoffices offers a range of smart workspaces in Bangalore at multiple locations including Dickenson Road, Whitefield, Bommanahalli, Domlur, Jayanagar, Malleshwaram, Nagawara, etc.
Easyoffices – Pricing
The pricing of EasyOffices varies depending on the location and business needs. The price card offers rates that start from Rs. 7500/month to Rs. 18500/month. For more information, you can check out their official website.
Easyoffices – Features
Fully furnished workspaces.
Flexible office spaces that are tailor-made for businesses.
24×7 availability of rooms.
Flexible hiring options.
Excellent business lounges and areas for collaborations.
Manned receptions to be accessed around the clock.
Availability of cabins and conference rooms for varying requirements.
CorporatEdge
CorporatEdge is one of the leading office service providers that offers smart and well-equipped office spaces that are suited for the changing office needs of today. CorporatEdge is distinguished for premium office spaces at convenient locations in and around Bangalore and multiple locations across the country. Along with providing the brands and businesses with smart workspaces, CorporatEdge also strives to provide them with immensely elegant spaces that add to their brand value. CorporatEdge enjoys 5 centres that are in operation in 5 different locations, 3 different cities, and PAN India locations and boasts of an ever-growing clientele.
CorporatEdge – Coworking space in Bangalore
CorporatEdge offers a range of options to choose from when it comes to opting for service offices, meeting rooms, virtual offices, and more. The main office of CorporatEdge is located at ITC Green in Bangalore.
CorporatEdge – Pricing
Requirement
Starting Price
Desk Booking
Rs. 12000/month
Private Cabins
Rs. 28000/month
Meeting Rooms
Rs. 4000/day
You just need to choose the duration and the capacity you would need for your business. However, it is always wise to check out their official website for more information and pricing details.
CorporatEdge – Features
High-speed internet to transfer data without hassles.
Convenient cafeteria and kitchen area.
Prime locations around the country.
Transparent pricing and packages.
Smartphone booths at multiple places.
Secured offices that enable keyless entries.
24×7 access to photocopying and printing machines.
24×7 building access.
Attached lounge for guests.
Cowrks
Cowrks is known for vibrant office spaces that are set up at strategic locations for ease of communication. It believes in building offices that are elegant and elevate the status of the businesses operating from them. Besides, it also ensures that the employees and other business professionals feel at home even while working. Furthermore, Cowrks also boasts state-of-the-art technology to improve the user experience along with the 5-star hospitality that it extends.
The coworking spaces from Cowrks would gear up businesses and boost their productivity and collaboration. Regardless of whether you are looking for an office space for a day or continue working for years on end, Cowrks has got you covered. Yelahanka, New Indiranagar, Ecoworld, Koramangala, Whitefield and Residency Road are some of the office locations of Cowrks in Bengaluru. The other states where Cowrks have their offices include Delhi, Chennai, Mumbai and Hyderabad.
Cowrks – Pricing
CoWrks charges a membership fee that depends on the number of desks and the total duration that you would be needing them for. Also, the prices are based on the location of your business and the facilities. A desk can cost anywhere between Rs. 3000 to Rs.10000/month. For more detailed information and pricing packages, you can check out their website.
Cowrks – Features
Fully furnished shared offices of varying sizes and amenities.
24×7 entry inside the office rooms between Monday to Saturday.
Flexible charges for a diverse range of options for payments.
Fast internet connectivity around the clock.
Special lounge and lounge plus packages.
A wide range of contracts.
IndiQube
One of the leading working space providers operating in India, IndiQube aims to bring the best workspaces to meet the demands of the new-age businesses. Whether it is for an enterprise or a startup, offshore centres or solopreneurs IndiQube strives to provide the best experience for each brand. Along with smart buildings that are powered by the latest technologies to boost the working experience, IndiQube also boasts various employee engagement programs.
IndiQube – Coworking space in Bangalore
IndiQube – Pricing
Requirement
Starting Price
Office Desk
Rs. 6499/month
Private Cabin
Rs. 42500/month
Event Spaces
Rs. 15000/day & above
However, prices may widely differ according to the size and function of workspaces. For more details, you can simply check out the official website of IndiQube.
IndiQube – Features
Smart digital workspaces are equipped with everything that a business needs.
This was our list of Coworking Spaces in Bangalore. If you are one among them, then connect with us at shubham@startuptalky.com to get featured in the list.
FAQs
What is a coworking space?
A coworking space is an office or a building where individuals or a group of individuals can come to work on their personal or professional projects. Individuals pay to the company which is providing the space.
Why do we need a coworking space?
Coworking space could be needed for the following reasons:
It provides small businesses or startups with a work space to get their work done.
It allows you to find potential business partners or investors in these places to build the business.
It is fairly cheaper for startups with a small team than a proper office space.
It provides amenities like foosball tables, billiards, gaming consoles, cafeterias, wifi-enabaled premises, etc. on one platform.
It provides a multitude of leasing plans like pay on a monthly basis, daily basis, or on an hourly basis.
Which are the best coworking spaces in Bangalore?
Here’s the list of the best coworking spaces in Bangalore.
Coworking space is an office or a building where individuals or a group of individuals can come to work on their personal or professional projects. Individuals pay to the company which is providing the space. Almost all such coworking space companies provide additional facilities which attract the people to use their space.
Coworking spaces in India is on boom with the booming Indian startup ecosystem. It has been mainstreamed for the advantages it brings. Flexibility to work, lesser cost and most importantly, Coworking spaces are always good to focus on what you do the best without worrying about other things.
Especially in metro cities its very tough to afford a good office space when you are still a startup and that’s where Coworking spaces come to rescue. Also, as startups spring in locations across India, they need to establish their presence physically.
You may not have the capital to invest happily in setting up an office and thus require cost effective and ergonomic solutions. So why not share space with other like-minded people, working in tandem?
Coworking space is the need of the hour. There are over 100 branded coworking spaces operating in India. This figure is estimated to quadruple over a period of three years. The total number of shared spaces are expected to reach approximately 500 centers by the end of 2020 from a present figure of 150.
Currently, there are approximately 300 both branded as well as unbranded/unorganized shared space operators in India, operating across 720 centers in urban India.
Coworking spaces have quite the hype now since they give startups and freelancers a proper place that saves them from isolation when working at home and at the same time it keeps away the distractions you face while working at home.
These places are filled with state of art amenities, Wi-Fi with high-speed internet, cafeteria, conference rooms and everything that one needs to run a personal office. Some of the spaces also helps you to connect with mentors and conduct regular events to learn from industry experts.
Spread across Bangalore, Delhi, Gurugram, Goa, Mumbai, Hyderabad, Noida and Pune, 91SpringBoard is a popular coworking space in India that has all the basics covered. 91SpringBoard has both open workstations and private cabins, conference rooms, recreation zone, redundant power supply and 24/7 availability.
91SpringBoard Coworking Space in India
Aside from this, regular workshops, seminars and events meant for enhancement and enrichment are frequently conducted. 91SpringBoard’s Membership is available on a monthly basis, with no lock-in requirements.
Such flexibility is a desired attribute among startup which may at times face financial crunch. Lockable cupboards are provided for storage requirements, and there’s the option of separate internet line for member organizations.
Innov8
Innov8 Coworking Space in India
Started from Gurugram, Innov8 has Delhi/NCR, Chandigarh, Bangalore, and Mumbai accounting for roughly 8 lakh sq. ft., Innov8 is the exclusive Y-Combinator backed collaborative work-space player apart from a few other significant entrepreneurs and top Indian angel investors. Innov8 provides amazing environment in their Coworking space and many of its offices are designed keeping the funky culture of startups in mind.
Awfis
Awfis Coworking Space in India
Founded in April 2015, Awfis aim is to build creative work-spaces and make it accessible to the more people. Currently, it has its base in Delhi, Bangalore, Hyderabad, Mumbai, Gurgaon, Noida, Kolkata, Pune.
Awfis offers a shared space for a price range of Rs 5,000-15,000 per seat. With a customized mobile application enabling users to find, review, book work spaces in its centers on a real-time basis. Awfis has created an innovative ecosystem of an affordable, tech-enabled, collaborative, high energy coworking space in India for the entrepreneurial community.
Plus Offices are a rapidly growing, funded venture coworking space started from Gurugram, Haryana (Sector 44) . They are now expanding to Sector 67 to a new massive 55,000 Sq. feet facility. This place would be ideal for startups, entrepreneurs, SMBs and enterprises who are looking at a productive workplace with a customised format.
According to founder, their focus is completely customer and productivity oriented. You can plan productive workplace seating right from a 10 member team to a 1000+ strong growing enterprise.
Plus Offices have also started a Mentor Plus Program where they are trying to help growth bound enterprises to get on business acceleration by connecting them with regional and global mentors.
Social Offline
Social Offline Coworking space in India
Situated near the iconic Cubbon Park in Bangalore, Social Offline is a coworking office space which has the casual setting which blurs the line between home and office. There’s a bar in the premises as well, and the 5000 INR membership covers the cost of using this amenity. Moreover, there’s a gaming area to blow off steam at the end of the day. Foodies would definitely love this Coworking space, given that it is surrounded by a plethora of cafes and restaurants!
GoodWorks CoWork
GoodWorks CoWork coworking space in India
In-house consultation and assistance through all possible mediums, GoodWorks CoWork provides startups and other organizations more than just accommodation. Situated in Whitefield, GoodWorks CoWork is often counted amongst the best coworking spaces in Bengaluru.
With beanbags spread throughout along with ergonomic chairs, fully furnished space, lounge, an on-site restaurant supported with free tea/coffee services, and the latest equipment’s, startups should explore this coworking space.
Chitkara Innovation Incubator
Chitkara Innovation Incubator is an incubator that has been approved by the Government of India. It is the second one in North India after New Delhi to have achieved this recognition.
Spread over an astounding 15,000 square feet, the coworking space also serves as an education hub specializing in entrepreneurship development. The office spans across six floors; that means a potential opportunity to networking with some of the most innovative ventures out there.
In addition, sprawling sports room, amenities like office boys, cleaning facilities and free parking are simply icing on the cake. Both open spaces and private rooms are available for lease. It is located in Panchkula, Haryana.
RentADesk
RentADesk coworking space
With desks starting from as low as 500 INR, RentADesk is located in Banjara Hills, Hyderabad. RentADesk welcomes entrepreneurs and freelancers who are looking for nice coworking space in the post location of Banjara Hills – significant location especially for the techies. RentADesk also offers some of the premium workspaces that can help you innovate.
Located in Lucknow, capital of Uttar Pradesh, Qworky offers a contemporary coworking space to match varying needs of to all kind of startups and companies. The pricing plans have something to offer for everyone; this includes open sitting, dedicated cabins, 2/5/7 seater, virtual office and conference room. Qworky offers a device lab where gadget are provided for assistance. Then there’s the mesmerizing ambience for all to enjoy.
WSquare
WSquare coworking space in India
Launched by Vandhana Ramanathan and Jinal Patel, Wsquare is a Women only coworking space. Along with providing accommodation, a marketplace is organized once a month to push women entrepreneurs to showcase their products and ideas. This includes but is not restricted to jewellery, clothes, etc.
Enticing packages such as ‘startup square’, ‘she square’, ‘office square’ and ‘workshop square’ can take care of varying requirements. Benefits include women centric workshops, doctors on call, on demand grocery facilities, and a women café. It is counted as one best coworking space in Chennai, India. WSquare is located in Adyar, Chennai.
SproutBox
SproutBox Coworking Space in India
Started in the year 2015 in DLF Phase 1 in Gurgaon, SproutBox not only provides dedicated coworking office place but also has mentors to help one to put on their ideas to action. It is counted as one of the premium coworking space in India.
SproutBox also provides with complimentary tech support, high speed internet and complimentary beverage service. There are no lock-ins, one just need to make monthly renewals to book a desk.
iKeva
Located Near HUDA City Center Metro station, one can have 24/7 access to the iKeva office space. Apart from being close to many city destinations, iKeva also provides with a bundle of services. It has incessant access to maintenance, security and electricity.
All of this and more with a flexible booking policy that needs you to pay for what you use only. The main benefit of coworking space is you can have access to other iKeva locations with one membership.
WeWork
WeWork Coworking space in India
WeWork is world’s largest coworking company and has 4 branches in Gurugram. Its located at DLF Cybercity, MG Road, 32 Milestone and Udyog Vihar in Gurgaon. The cost of booking a space in WeWork depends on the kind of desk you are interested in. The coworking office space is categorized into 3 types as, private office, dedicated desk and hot desk.
WeWork provides a range of facilities from front desk management to private phone booths. It’s a great place to connect with people from all walks of life.
ThinkValley
ThinkValley Coworking Space in India
ThinkValley has various different work areas basing on one’s requirements. One can book a single desk, a conference room or a studio depending on the necessity. It also has a café and a library to unwind oneself. These facilities make ThinkValley one of the best coworking space in Gurgaon. It stand atop is it organizes weekend getaways and regular events that help in networking with people, sharing thoughts and ideas. ThinkValley is located at Sector 32 in Gurgaon.
OfficingNow is located at multiple locations in Gurugram. It has a wide variety of options of desk spaces to choose from. It promises to be suitable for any sort of business, such as, startup, freelancer, NGO, Corporates, Home Workers and SMEs. There is something for everyone in OfficeNow. The benefits include flexibility, convenience, expert advice and security.
Investopad
Investopad Coworking Space in India
Located at Sector 32, this is one of the best coworking space in Gurgaon, Investopad is one of a kind coworking place in India. If you are bored of working on desks then hop into a hammock and let those creative juices flow. Investopad boasts of having vibrant, spacious and comfortable studios. Crosstalk is something that is unique in Investopad, where one can get inspired by domain experts. They have four plans to choose from, the most popular being the 12-day plan. These give access to the place 12 days a month and enjoy the benefits of a full-time member.
The Office Pass
The Office Pass Coworking space in India
The Office Pass is located at four places in Gurgaon at Sohna Road, near Huda City Center Metro station, Cybercity and near NH48. This is different from a ordinary coworking space since this is a Neighborhood Co-Working (NCW) space.
NCW is a kind of space which provide working space to nearby people in 5 km of distance. This saves the commute time and also unique in coworking space environment. It promotes the now trending walk to office culture in India.
StirringMinds
Stirring Minds Coworking Space in India
Aside from the basic facilities being catered to, the brainchild of Pranav Bhatia, Stirring Minds offers something exclusive—a program known as ‘Start A Startup’ program (SAS). It includes funding support, MVP development, business model evaluation, pitching sessions, certification options, and opportunities for networking. The pricing catalog ensures that those with and without financial sources can make the best out of Stirring Minds, with quarterly, monthly and yearly plans available.
Some of the Honorable mentions are:
HustleHub
Nwook
IndiCube
Cowrks
EasyDafter
Conclusion
So this was our list for top Coworking spaces in India. Apart from these Coworking spaces in India, there are a number of cafes that provide you with a calm environment to work along with free Wi-Fi.
If you are in the mood to work at a relaxed workspace then pick your laptop and head to one of those calm, quaint cafés near you. Starbucks and CCD are quite famous for this! We will try to keep this list on Coworking spaces in India updated.
FAQ
How many coworking spaces are there in India?
There are around 850 coworking spaces in India.
What is the future of coworking spaces in India?
The flexible spaces segment is expected to grow by an average of around 15-20% per annum over the next three-to-four years
How much does a coworking space cost in India?
The average monthly rentals for co-working spaces is between Rs 18,500-28,500 per desk, while it hovers between Rs 24,500-30,000 per de
Coworking space is a business for some people and a home to many startups!
Mr. Kushal Bhargava, the Co-Founder of MyBranch sheds some light on the Co-working Industry in India during pandemic times and also shares the interesting startup story of MyBranch in this article. From finding locations, to assisting with documentation, to handling essentials and daily administration, MyBranch takes care of it all! In terms of managing and maintaining workspaces, MyBranch serves as a one-stop shop for all business needs.
To begin, a little background information about Mr. Kushal – He is a qualified Chartered Accountant and holds a master’s in commerce degree from Mumbai University. He is also an active member of the Student’s Committee of WIRC (Western India Regional Chapter) of ICAI. He started managing a pan-India BFSI business after completing his education. An innovative and strategic thinker, Kushal sets the vision for MyBranch and supports its operations team with delivery. He also assists in developing the business and forges ties with companies. In addition, he oversees MyBranch’s ancillary businesses – Meeting Rooms, Virtual Offices, and Managed Offices.
1.What were the major challenges in terms of co-working operations during and post lockdown?
The entire country came to a standstill during the lockdown. We were no different, even though the existing clientele at the time did not decline, the offices were left vacant during the entire lockdown period. Also, when the lockdown was lifted, several restrictions were in place, most of our clients who had expansion plans became reluctant and took a step back.
2. How did MyBranch tackle it efficiently? What were the measures taken?
Not just our country, Covid has impacted the entire world at an unprecedented level. The pandemic laid an impact on business and overall operations up to a great extent. However, still, MyBranch was quick to respond in a strategic manner. During the lockdown, we gave utmost importance to brand building activities because it was supposed to be managed from the ease of our homes. We also planned supporting activities and drills for our customers. We were fortunate to not lose even a single enterprise client due to Lockdown. We maintained constant touch with all our clients and kept them informed about the new and updated office protocol. Also, we strictly followed all Covid-19 guidelines at our offices across India, as a result almost 80% of our clients started working from our offices just within two months of unlocking.
MyBranch Coworking Space
3. How was the company’s start-up journey in context to growth, team building, and customer satisfaction?
We believe, for any startup idea to become successful, the most important thing is its uniqueness and scalability. We utilized the lockdown for focusing on brand-building activities and spreading awareness about MyBranch. And even after we reopened, we ensured all sanitization and fumigation standards are met and our offices are completely safe for the guest employees.
We believe in the phenomenon of ‘Happy customers bring more business’, hence we consider our customers foremost.
MyBranch Logo
4. How do you see the co-working industry pacing ahead of a pandemic? What are the key points the young entrepreneurs, or start-ups in the industry, should keep in mind?
There is no denying that just like any other business, this industry too, has its share of pros and cons. But in the bigger picture, we think the co-working industry is going to boom because numerous offices and organizations have opted for work from home as a permanent way of working and are now seeking small office spaces at different locations instead of consolidated working space. Young entrepreneurs who aspire to enter into this business should most importantly focus on the conceptualization of their ideas. They should lay emphasis on offers leading to maximum satisfaction for the customers, in return, this can get a lot of recognition and references for future deals.
5. What were the learnings you got from your journey as an entrepreneur?
As an entrepreneur, one of the biggest learning we got was — bite only as much as you can chew. It is very important to only cater to as much demand as you can deliver effectively and efficiently. We believe in maintaining quality even if means lesser quantity. As an entrepreneur, you are responsible for all things from top to bottom, and for a business to become successful it is really important to manage all aspects efficaciously. A business can become fruitful with a multi-dimensional approach and a will to never give up.
6. Do you want to share an anecdote or inspirational story that you think would be enriching for our readers.
To us, ours is an inspirational story because contrary to what we thought, MyBranch was able to increase revenue by 8% for this financial year despite 2020-21 being such an unfortunate year in regard to business and humanity as well. This has inspired us to work towards setting up 100 branches across India.
“Don’t be afraid of the space between your dreams and reality. If you can dream it, you can make it so.” – Belva Davis.
The words above laconically describe an entrepreneur’s ethos, entrepreneurship is all about turning even the most paradoxical dreams or ideas into practicality. But the space between these two things might appear to be infinite if you don’t step on the right road from the start. And if you do all of it right, voila you have a startup. Congratulations! But the work doesn’t end here, the road ahead has a lot of steps and the first one is to set up the right office.
Startups usually begin with a small team so you don’t need to have a huge space, just a well-constructed area in an apt location would do. Let’s dig into some must-haves in a new working space. Let us see the complete report on the ultimate office setup guide for entrepreneurs.
Before moving on, let’s try to understand what is entrepreneurship? Who is an entrepreneur? How to become an entrepreneur?
According to the Entrepreneur website, an entrepreneur is-
Someone that creates something new, either an initiative, a business or a company. He or she is the beginning (and sometimes the end) of a venture, project or activity.
The entrepreneur might not be the ideator, but he or she is definitely the one that decides to make that idea a reality. An entrepreneur is a driver, a starter is accountable and responsible.
The video below clearly explains all these questions in brief. Have a look into it to understand entrepreneurs better.
The Structure Matters
Cool, open office spaces are now the new trend, the layout isn’t considered of that much importance. But, the fact of the matter is that structure matters a lot. The structure is the first and the foremost point which should be in the checklist of the ultimate office setup guide for entrepreneurs. You need to divide the space diligently. You got to maximize the utility even after realizing the limitations of space, budget or maintenance.
Open space doesn’t mean interference. Every employee should get a proper working area where they can isolate themselves and think. Remember, the environment influences the quality of the work.
Office Setup for Entrepreneurs
You got to fade away noise. Whether it’s from your own office, or from somewhere around you. Lay carpets to dampen the excess noise. Use curtains, if you have employees who constantly need to be on the phone with the clients or give them a separate space.
Proper partition of space is super crucial. You need a formal meeting room, you need a brainstorming area, you need an informal briefing area, the paperwork room, you need cabins for the founders, a small kitchen, washrooms and what not. You see, a small office has a million smaller rooms. If you don’t manage the space cautiously chaos is bound to be your first client.
What All You Might Need?
1) Reception Area
The most important thing if you’re setting up an office as an entrepreneur is a welcome space i.e. The Reception Area. This is the first impression of your company, this sets the theme in your client’s mind, in your employees’ mind. You don’t need to overdo it, just add a fascinating backdrop, a classy desk, some pictures, figures on display, and your company’s name in a stylish, unique manner that stays in the client’s mind for long.
2) Work Desks
Rows of individual cubicles with desks and chairs, don’t make their hellholes. Choose the ones, which feel more open and connected to the whole space but also give you the room to function. Place ergonomic chairs and tables so that they will be comfortable while working for long hours.
3) Board Meeting/Client Meeting Room
This space where you’ll talk to your prospective clients, this is where you lay down the work, where you persuade them to go with your ideas. The room should be professional, of course, but should it be nerve whacking? No. Make the room formal but don’t lose touch. Make it comfortable. Add a plant or two in the corners. Let it have glass partitions. Remember you need a projector, a great conference table and comfortable chairs.
4) Brainstorming Zone
This might just be the most important space. Startups are made up of ideas. They feed on ideas, nurtures ideas, if not ideas then why even call it a startup? The brainstorming area is where dreams are born, this is where plans are made, this is where the foundation of the building called success begins. This is the place where your journey of becoming a successful entrepreneur begins in the first place. You need to focus on the energy in the room, it should be motivating, it should spark something. Add up a bookshelf, fill it up with amazing books relevant to inspirational content. Put up posters, which contain a spirit that resonates. Set the room up with whiteboards, beanbags, a small swing maybe.
This is the zone where communication happens. This might be the space where you design the outline for the day, set the targets, assign jobs or just talk. Talk about progress, loopholes, improvements anything at all. Space should be comforting and informal so that the employee feels free of any barriers to expression. Just add a few chairs arranged in a circle or something with a table in the middle for paperwork and you’re good to go.
6) Kitchen and Coffee Area
Startups usually don’t stick to the 9 to 5 regime. They have flexible working hours with some going on even the night. You need to fuel your employees so that they can deliver. Make a small kitchen with an induction stove, coffee maker, snacks, 2 minute noodles, energy bars. Keep a small fridge for some fruits or something. Keep it stocked. Let your employees contribute to the fridge.
7) Play Area
As much as it is about work, startups are also funky and friendly. Design a small relaxing area, where there’s music, a small tv, a foosball table, UNO, Jenga. If you have the budget, make the office pet-friendly, dogs are the best stress-busters, maybe all that the mind-blocked employees need is an escape for a while to make the productivity race. This will improve the overall vibe of the office, give it a playful impact.
Let The Office Speak
The company vision should echo in the space, the employees should feel the work that does, and the environment gives them that vibe.
Casual is the key, but remember your office nurtures your work. The office should resonate with the motivation behind your startup. It should be a little version of the big mountain, that’s your inspiration. Put up motivational stickers, posters, add up the flavor with your company name. Anything that adds a personal touch. Keeping it bare would make it dull faster than quicksand.
Organize team-building events, fun activities, co-curricular activities, surprise them with gifts that will allow your team members to interact with each other and will also keep them off from their work for a while.
When you have a small space, it’s very easy to make it monotonous, because why take the effort. But, a few months into the work and the monotonicity will start suffocating. So, it’s better if you make every room different. For example, add colours. Choose the brighter ones for the brainstorming area, obviously the decent ones for your cliental meeting zone. Add wall decor, wall art to make it more classy. Green adds life to space, so remember to have indoor plants.
Your office should be a combination of industrial and cozy. The office environment should allow people to socialize and communicate with each other, interact with their fellow colleagues to be more efficient and comfortable at their work. Falter here, and all you get is a boring space. Startups create magic, so let be unique, let it be flawed, what matters the most is that it should be personalized.
FAQ’s
Who is an Entrepreneur?
The entrepreneur might not be the ideator, but he or she is definitely the one that decides to make that idea a reality. An entrepreneur is a driver, a starter is accountable and responsible.
Where do entrepreneurs work?
The workplace of an entrepreneur will be office-based, but it can vary.
How big is the workplace for entrepreneurs?
The size of the workplace will depend on the size of the venture and may start at home or in a small office and grow to a large corporation.
What is the work environment of an entrepreneur?
An entrepreneurial work environment is one in which people are not afraid to take calculated risks, and in which they can embrace the idea of learning something valuable from a failure.
How many hours does an entrepreneur work?
Lots of entrepreneurs work 60 to 80 hours a week.
Why are coworking facilities attractive to entrepreneurs?
Coworking can greatly ease the path to starting a new business and also provide flexibility when your business is growing. You can add team members at any time without the costs and commitment of commercial lease space.
Feel free to reach us and share your feedback. We would love to hear from you. Do comment us in the comments section below. Happy Reading.
The office space format has come a long way since it was regarded solely as a place of work at a convenient location, with plain desks, chairs, and cabins comprising the overall set up. Over the past few years, we have seen the workplace evolve significantly in terms of space utilization, design, architecture, and tech innovation.
Co-working spaces are no longer limited to only budget tight startups and freelancers. In the present time, it has become an attractive choice for many mid to large-sized enterprises. Prominent MNCs are now working out of co-working spaces and opting for co-working spaces for their expansion in different cities. Taking this concept to a new level, Neetish Sarda & Harsh Binani launched Smartworks in 2016.
In this article, we have discussed Noida’s co-working space company, Smartworks, its business, and investors. Read the full article to know more about Smartworks and its services.
SmartWorks offers state-of-the-art serviced workspace solutions for individuals and businesses that want the best of work environments without committing themselves to long-term leases or contracts. It offers tailor-made offices and combines top-notch real-estate design, technology, and hospitality to create vibrant communities in the workplace.
Envisioned as a reboot of traditional coworking spaces, Smartworks aims to provide entrepreneurs with all the flexibility that they need to succeed in the competitive business environment of today. Moreover, being serviced and completely customizable, these workspaces help businesses minimize their overhead expenses. Whatever you need, there is a smart solution for you here at Smartworks.
The market for co-working space is on a growth trajectory in India with many players entering the sector as there is immense potential. Smartworks, in this space, differ from other companies as the focus is on flexible, managed and configured workspaces targeting enterprises with longer tenures. Smartworks creates a way of life that goes beyond being ‘just an office space’ with a laser focus on employee happiness and productivity across our facilities in the country.
Smartworks – How It Works
With their rich experience and knowledge of real estate, the team can offer a readily configured workspace to clients within four to five weeks as compared to the traditional workspace providers who take nine to ten months to deliver the same.
Smartworks, as a venture, have a holistic approach to keeping members engaged and productive. Various services and events are ranging from its in-house F&B services, hobby clubs, corporate grooming sessions, yoga classes to live bands.
As a part of the Smartweekenday campaign focused on member happiness, Smartworks organizes regular events ranging from fitness, ‘shared-knowledge opportunities, food trails, skill-building workshops, leadership series, music, and dance therapy, bringing pets to work, to learning new courses and languages.
Smartworks’ Co-Working Space in Bangalore
Tech-Enabled Environment
Smartworks App– It has an in-house smartphone application that facilitates collaboration & networking to increase work efficiency across centers. The app also reduces downtime as it offers real-time tech support and ensures issues are resolved as soon as possible.
Visitor Management System – Installation of the Visitor Management System ensures effective processing and tracking of your guests. Accuracy and security are well taken care of through digital registration and identification.
IOT based Meeting Room Bookings – Smartworks has an indigenously developed a meeting room solution that rides on the new age tech-IOT to efficiently manage meeting room bookings, generate utilization analytics, insights and can be white-labeled as per the customer needs.
Smartworks – Target Market Size
The growth of the co-working market is gaining momentum at a rapid pace. The reasons behind this growth are manifold, the foremost being the reduced cost of working out of co-working spaces instead of leasing entire buildings. The market size of co-working spaces across the country is expected to be 13.5 million users by 2020, entailing half of its contribution from enterprises that are expected to take up 10.3 million seats. Most of the industry players entering the picture instill India as a flexible space market across the Asia Pacific region.
Over the years of Smartwork’s operation, the team has analyzed the demand patterns and identified large enterprise segments to be ripe for the growth of co-working spaces. Smartworks has leveraged this opportunity and worked towards providing an unmatched office experience to large corporations and big MNCs including Fortune 500 companies.
The market demand is driven by agility, affordability, community collaboration and increased focus of established corporations by varied needs and Smartworks has been a pioneer in delivering these crucial aspects.
Smartworks have the potential to cater to 97% of the office market demand in the country, and today this customer segment forms more than 90% of its clientele. It has grown threefold since our inception in 2016 –both in numbers and revenue.
In April 2016, Smartworks made its foray into the Indian market with its differentiated offering of ‘managed office spaces.’ To enhance Smartworks leadership further, the team onboard Harsh Binani, it’s Co-founder who comes with a strong background in strategy and operations from McKinsey& Co’s Chicago office.
At Smartworks, Harsh has envisioned the overall strategic roadmap for the company, driving product development, customer experience, technology, and marketing. He is passionate about building a healthy work culture not only for Smartworks but also for all our member companies. Analytical, straightforward, and focused, he ensures that Smartworks is on a fast growth track and delivers value to all our clients.
Both Harsh and Neetish, are determined to make “Smartworks” the largest network of new age, managed office spaces in the country indexing on customer experience, design, technology, and community.
Smartworks – How It All Started?
“My journey with Smartworks has been full of new experiences and challenges. My exposure to futuristic workspaces of the likes of Google and Microsoft in the US and Singapore as a college student helped me realize the probability of similar workspace disruption in India, which can maximize overall employee engagement and productivity.” Said Neetish.
At that time, India was undergoing tremendous workspace transformations and moving away from the conventional office format. Upon thorough research, Neetish found out that the pace of transition to smarter workspaces in India was way behind as compared to the West, due to limited workspace design innovations and infrastructural flexibility. This is when he decided to create an unparalleled office experience for Indian office goers, which is both accessible and affordable. He wanted to create a vibrant workspace with employee engagement sessions, corporate grooming workshops and recreational spaces for the aspirational workforce of today.
Since then, there has been no looking back, Smartworks created a new market altogether by putting together the best elements of conventional office space and a co-working space. The company’s laser-sharp focus on large enterprises has emerged as the preferred choice for enterprises when it comes to managed office spaces. Smartworks is building vibrant workspaces with the vision to make office fun again. The positive work environment translates into a place of productivity, engendering extra energy and better output.
Currently, the 95% commercial real estate absorption is attributed to enterprises in India. Analyzing the market potential, Smartworks has positioned itself as an enterprise-focused service, and the central idea behind this is to capture the bigger market.
Smartworks – Name, Tagline, & Logo
Smartworks Logo
The name ‘Smartworks’ has been derived from our firm belief that excellence is a product of working smartly day in and day out. It’s tagline, ‘Workspaces that work for you’, indicates how well its workspaces work for all the clients irrespective of their size, nature of business or demography. The motto was simple “Create office spaces where people ‘want’ to go, not just ‘have’ to go!”. It’s office spaces are a combination of beautifully designed infrastructure, state of the art technology integration and amenities that are available to the members.
Initially, when Smartworks had just launched, the team’s focus was on startups and freelancers. But after much research, they figured out that enterprises make up for the maximum market, and therefore they changed their strategy. Today, more than 90% of Smartworks revenue comes from enterprise clients.
Here are the three-pronged strategies that have led to the performance and growth of Smartworks in all these years:
Bringing large enterprises in the purview of coworking spaces – The very first decision to shift our focus from startups to large enterprises is what defines the story of Smartworks. It was a difficult decision, though, but turned out to be a wise one when the team looks back now. Smartworks started to completely revolutionize the way offices function in India. And it became imperative to cater to large enterprises that have tremendous potential for this industry and can help Smartworks establish its name in the market. And in just over three years, the team has successfully established Smartworks as a preferred Managed space office provider in India for large enterprises.
Investing in large facilities with faster turnaround time – Enterprises typically face significant challenges around new office space acquisition at the right location and its development. Business requirements of enterprises are unique, precise, and they look for long term leases where the location is the key priority. Smartworks invest significant time and research on such profitable buildings and take them on lease for 9 to 10 years. By doing this, Smartworks takes away all such challenges from the enterprises and provides them with completely fitted out/configured space within 4-6 weeks, which compliments their brand ethos and requirement. It matches the preferences of its clients, which has made Smartworkd, the first preference/choice for large enterprises.
Focus on design and environment for productivity – Gone are the days when an organization would choose workspaces only because of its cost-effectiveness. The infrastructure and the experiential environment in a workplace plays a crucial role in keeping employees engaged, empowered, and happy. Artistic touches in workplace design like flooring, wall arts, graffiti, comfortable seating options, bio-phallic architecture, gaming zone, vibrant cafes convey the personality of a coworking site than any larger investments made by the companies. Attention to design and architecture in workspaces gives a big boost in employee productivity. In line with that aim, all Smartworks offices today are state-of-art smart buildings, all tech, and services enabled. The vibrant, colorful, and environment-friendly workspace is designed to suit the needs of the workforce of today, with more open spaces and lesser cabins- this ensures more communication and collaboration.
Smartworks – Business & Revenue Model
Smartworks primarily functions on the lease model, where it takes large bare-shell spaces on a long-term lease from landlords. These spaces are then configured as per the client requirements the space for enterprises and other companies looking for an agile co-working space. Our minimum lease term is for three years, and on an average, a client takes about 280 seats, which is 10,000 sq. ft. area. So, we are into a large format play, unlike a regular co-working space. The idea is to move beyond providing space as a rigid commodity and offer workspace as a service based on varied requirements.
Smartworks – Startup Challenges
Initially, one of the hurdles that Smartworks faced was challenging the preconceived notions of MNCs and Indian enterprise giants, who were reluctant to leave their comfort zones and trust a coworking space with their operations.
The team then went on to focus on providing not just an office space, but a holistic office experience. Right from the infrastructure, technology, employee engagement activities, configured offices, we catered to every demand of our customers. At Smartworks, they believe in providing cutting-edge innovation and technology. This decision proved to be a game-changer for the venture because it could successfully add value to its client’s work life in terms of lending vibrancy, boosting productivity and ensuring employee happiness.
“Today, we feel proud of how we have revolutionized the whole office experience for our clients and have become India’s largest provider of agile workspaces with a growing footprint.” Added Neetish.
Smartworks – Funding & Investors
Smartworks has raised $25 million in Series-A funding from Singapore-based real estate giant Keppel Land, on a minority stake. With this strategic investment, the venture will be able to scale up even more rapidly across India’s Tier I cities where it has its presence and further invest in building up our next generation product, improving client experiences, as well as boosting our talent and technology.”
Smartworks, headquartered in Noida, India is the only homegrown agile workspace provider that has become profitable in India. It has a presence across 40 centres in 14 cities with spanning 8 million square feet across India as of September, 2023.
The team has consistently built high-quality workspaces dovetailed with impeccable hospitality, design, and technology. Moreover, their key focus areas remain designing, productivity and employee engagement programs to elevate member experience.
Smartworks’ presence and expansion in all these cities is a testament to its lucrative business model and our massive growth journey over the years. It has recently raised $25 Million from Singapore-based real estate giant, Keppel Land in series-A funding. Smartworks now aim to utilize this strategic funding to expand its footprint and to workstation counts across the cities where it already has a presence.
Financials
Smartworks Financials
Smartwork Financials
FY22
FY23
Operating Revenue
Rs 360 crore
Rs 711 crore
Total Expenses
Rs 488 crore
Rs 880 crore
Profit/Loss
Loss of Rs 70 crore
Loss of Rs 101 crore
Smartworks – Awards & Recognition
The awards that Smartworks has won over the years are:
Coworking Leader of the Year 2020 (South) Award by Realty Plus, an Exchange4media group publication in Realty Plus Coworking Summit and Awards 2020.
Coworking Brand of the Year 2020 – Pune by Realty Plus, an Exchange4media group publication.
ET Most Promising Entrepreneur of India at The Economic Times Promising Entrepreneurs of India 2019 event held on March 29, 2019.
The recognitions under its name are:
Smartworks made it to Linkedin’s List of Top 25 Startup companies to work for in 2019.
Smartworks has also participated in the following conclaves as a keynote speaker:
ET Global Summit 2019.
ET GBS Summit 2020
11th Edition of CII Realty & Infrastructure Conclave- Commercial Real Estate: Building a Sustainable Future.
APREA and NAREDCO’s Real Estate and Infrastructure Investors’ Summit- India – The renewed investment frontier
10th Realty Conclave: Excellence Awards – West – Offices Parks Investor Strategy – Flexibility vs location
Smartworks – Future Plans
In the series of growth, it has recently leased out India’s largest coworking facility in Koregaon Park, Pune. It is a 5 Lakh sq. ft. facility and will be operational by 2021.
“As the entire co-working/ agile workspaces segment grows in India, we believe that constant innovation, customization, as well as customer happiness, will help distinguish Smartworks and its service offerings from other coworking firms in the country. Over the next 4-5 years, we aim to expand to 20 million sq. ft. and provide office solutions for over 200,000 working professionals.” Concluded Neetish.
Smartworks – FAQ’s
What is Smartworks?
SmartWorks offers state-of-the-art serviced workspace solutions for individuals and businesses that want the best of work environments without committing themselves to long-term leases or contracts.
Who is the founder of Smartworks?
Neetish Sarda and Harsh Binani are the founders of Smartworks.
What services does Smartworks provide?
Envisioned as a reboot of traditional coworking spaces, Smartworks aims to provide entrepreneurs with all the flexibility that they need to succeed in the competitive business environment of today.
Where is Smartworks located?
Smartworks is headquartered in Noida, India.
In which cities Smartworks has its presence?
It has a presence across all the top 9 metros cities in India with 29 centers in Delhi, Noida, Gurgaon, Mumbai, Bangalore, Pune, Chennai, Hyderabad, and Kolkata with a total footprint of 3.8 million sq. ft.
Smartworks – Conclusion
Smartworks aim is to provide a completely managed and configured office spaces with world-class facilities and a collaborative community environment. The core of the business strategy is better employee engagement, employee happiness, and wellness in the workplace. Smartworks has worked on driving collaboration while establishing ways to increase productivity and this enthusiasm has been the driving factor that sets it apart. It’s a unique capability that stems from absorbing global best practices, coupled with hands-on real estate experience forms the foundation of its management strategy.
Lakshya Singh
