Co-working spaces catch fancy of startups in region

Vijay C Roy

Tribune News Service

Chandigarh, January 3

The startup ecosystem in the region is likely to get a boost with the concentration of co-working spaces intensifying. The latest addition is Mumbai-based “Social”, which has launched its centre in Chandigarh after Delhi, Mumbai, Bengaluru and Pune. This is the 18th centre of the company and it offers 40 seats.

The co-working space is dominated by startups, mainly in IT (product development) and e-commerce. Currently, in Chandigarh and Punjab, there are over a dozen co-working spaces, namely Start up In a Box, Starthub Nation, Wotta Workspace, Innov8, Work cafe, Chitkara innovation incubator foundation etc offering a plug-n-play seat anywhere from Rs 2,500 to Rs 6,000. In public sector, Software Technology Park of India (STPI) is offering around 100 seats in Mohali with data centre having 160 rack spaces, one of the biggest in Northern region beyond Delhi.

According to experts, these spaces have tremendous potential to provide a network much needed for the growth of businesses.

Since most entrepreneurs cannot afford expensive commercial realty spaces, these co-working spaces are perfect for anyone looking to take the plunge in the entrepreneur world as they offer plug-n-play facilities.

As co-working spaces lead to a 20-25% cost savings as compared to working in the traditional office spaces, it has caught the fancy of startups.

Tarnjeet Singh, who runs a startup, says, “A good co-working space gives an office area without making a big hole in your pocket. Secondly, the techies, startups, and entrepreneurs are ready to address your concern. Thirdly, it provides opportunity for networking which is most important part of the startup ecosystem”.

On being asked about the uniqueness, Shobita Kadan, Director-Marketing & Strategy, Social, said, “In the past few years, “Social” has redefined cafe and co-working spaces by marrying the two together to create a path-breaking urban hangout which is now unparalleled in Bangalore, Mumbai and Delhi. Co-working in Chandigarh is aimed at promoting openness, accessibility and cross-pollination of ideas to create an inspiring community of people. We intend to provide a legit physical space for inspired minds to hang together, work together and party together, and the Chandigarh market is ready for that.” It offers an office, a boardroom, wall-space and wall-to-wall uber high-speed Wi-Fi besides a restaurant and a bar.

Start Up in a Box at Mohali offers a mix of cabins and seats. At present, it is hosting around 36 startups. Out of the total 20 seats, the company claims that 17 are occupied.

Redefining office space

• The startup ecosystem in the region is likely to get a boost with the concentration of co-working spaces intensifying
• Mumbai-based “Social” has launched its centre in Chandigarh after Delhi, Mumbai, Bengaluru and Pune
• The co-working space is dominated by startups, mainly in IT (product development) and e-commerce
• Currently, in Chandigarh and Punjab, there are over a dozen co-working spaces