Desk Matters
Akanksha Maker delves into the business of co-working spaces in India
Global workplace provider, Regus recently announced the opening of its new drop-in business centre at Mumbai International Airport. Upon leaving T2 after a flight back to India, I had a chance to inspect the facility. Positioned more like an arrivals lounge, it is fully equipped with shower facilities and a cafe that allows passengers to freshen up and enjoy breakfast before they head out to meetings in the city. Sprawling over 371 sqm, this space can accommodate more than 100 business travellers at a time.
“At Regus, we understand the requirements and challenges faced by executives and professionals the world over. Over the past year in India, we have worked closely with organisations to provide them with support for various workplace requirements. The launch of Regus Express will now enhance our service offerings further, strengthening the role we play in building productivity and profitability for our customers,” says Harsh Lambah, country manager at Regus in India.
One of the pioneering players in the Indian co-working spaces industry, this Belgian service provider operates a network of 2,800 collaborative business centres across 106 countries and 977 cities. Regus’ enrolment model is very structured where you start by registering on their website. I received a call within 24-hours of a mock enquiry to understand the procedure. The customer care executive was well-versed about the various facilities offered across its spaces. With prices starting at `499 per person per day, it offers suites and offices at 96 locations in India to companies and executives to work out of. It also offers meeting rooms and business lounges that provide professionals an ideal office environment at a fraction of the cost of renting a larger area. Register your credit card information on the Regus app and you can even use its lounges, meeting rooms and day offices on demand.
The idea is to simplify the working life of a professional who doesn’t have access to a routine office. Co-working spaces provide such individuals or companies a platform to nurture their businesses and ideas. This includes freelancers, small to medium sized enterprises or even individual businessmen who are looking for inspiring environments that help them focus on their goals and concepts.
A successful example set by Regus, it has paved the way for several other companies to venture into this segment. While the Brussels-headquartered company is very clear in its positioning of being a serious corporate haven for atypical business set-ups, the Indian industry of co-working spaces has diversified over the last few years. It has recognised the rise of new-age, hipster entrepreneurial ventures that don’t want to work out of monotonous office environments. There is also a realisation that the entrepreneurial youth aspires a networking ambience that offers more than just a desk, internet connection and a cup of coffee. The increasing number of start-ups emerging in the country has definitely catalysed the upsurge of avantgarde co-working spaces across the major Indian metros.
Being important financial and commercial hubs of India, Mumbai, Delhi, Pune and Bengaluru have seen the openings of unique co-working spaces in recent years. On my last business trip to Bengaluru, I stayed at The Waverly Hotel & Residences situated within the complex of VR Bengaluru — a shopping centre. On the higher floor of the boutique hotel is The Hive, an unconventional
co-working space that offers its tenants diverse benefits of its versatile facility. “Designed as an ecosystem to nurture and grow the next generation of businesses, The Hive provides customisable modern workrooms comprising private offices and collaborative workspaces; complete business support services and a connected technology platform for community networking and managing the membership plan” says Ankit Samdariya, spokesperson of The Hive.
I toured the facility on my visit here to further understand what differentiates The Hive from an ordinary co-working space. Apart from a pleasant vibe, it has quirky London phone booths installed in a corner that serve as mobile stations for tenants taking personal calls. The Hive stretches across 10,000 sqm and holds 1,000 desks that offer high speed internet, dedicated phone lines and server space. Tenants can also use conference rooms, printing services, courier services, mail handling and packaging facilities here.
“Members have access to state-of-the-art retail, hospitality, entertainment, and F&B services at the seamlessly integrated lifestyle centre, VR Bengaluru,” Samdariya adds. Tenants can access attached suites and residences at The Waverly, Tribe fitness club, spa and salon, a rooftop pool, lounge bar, microbrewery, PVR cinema, even retail outlets. Home to creative professionals, freelancers, start-ups and other emerging enterprises, The Hive acts as a second abode to Airbus, ID Fresh, a Wikimedia manager, Conde Nast India among several other firms in the health tech, fitness, education tech, venture capital and lifestyle sectors.
Vivek Banka, founder of data and technology firm Alitore Capital who works out of The Hive gives deeper insight into the work culture at a co-working space. For him, one of the key motivational factors to work out of this “office” is the lack of stress — the company doesn’t have to worry about capital and administration. “The team stays encouraged and energetic throughout. They get to focus on work, and we don’t have to worry about maintaining the office. After a hard day’s work, they unwind at the rooftop bar or the microbrewery. The vibrant community keeps the team enthusiastic always,” says Banka.
My trip to Ministry of New, a co-working space in Mumbai’s Fort area for a book launch was an interesting experience too. I peeked into their minimal cabins and communal work desks; picture a wooden swing in a mint green, residential-style library with smaller rooms that offer a more intimate set-up. Spacious with a European decor with a local touch that is almost endearing, Ministry of New “welcomes you to a new way of working”.
According to their brochure: “Away from the mainstream, away from the crowd, people are yearning for space to be themselves. Space to feel inspired, to connect and be part of a community of like-minded individuals.”Ministry of New was conceived by Dutch nationals Marlies Bloemendaal and Natascha Chadha who yearned to work in an inspiring and collaborative workspace. Their aim wasn’t to just create an ordinary office but to build a consolidated space that will house a likeminded community.
A shared working space not only encourages us to share ideas with each other frequently, but also enables us to bring in successful ideas and processes from other professionals and sectors.
A visit to the Ministry of New (MoN) ensures creative interactions with freelancers, coaches, consultants, start-ups, expats, NRIs, digital nomads and corporate teams. The Gallery is its 204 sqm workspace that offers a stunning view of Mumbai. The Bark is its wooden room with high ceilings that emanates a peaceful environment for its members. For house teams of six to eight people there are The Team Rooms. There is also a boardroom, a brainstorming room called The Chapel and common areas titled The Courtyard and Mondays (the in-house cafe). While it is priced on the higher side than usual co-working spaces at a parttime membership beginning at `9,500 for ten days per month, it provides a host of services that gives you value for your money. This includes exclusive access to curated events here, free coffee and tea, multi-functional printers, full-time technical support, courier and concierge service on-demand, shower facilities and lockers.
A number of small- and medium-sized firms call MoN their office, including Valiance Healthcare System — a health care company focused on developing speciality care centres. A conversation with Mallika Tarkas Parekh, co-founder and chief executive officer of the company gives perspective on co-working spaces like MoN. “Given that we are a start-up business in health care services, we require a significant amount of time planning and developing our model and standards of care. The Ministry of New is a unique space, creatively designed with an international flair that stimulates us to also think outside the box within our sector about innovative ways in which to change and improve health care services in Mumbai. A shared working space not only encourages us to share ideas with each other frequently, but also enables us to bring in successful ideas and processes from other professionals and sectors,”she says.“While everyone has a title and a role, the co-working environment pushes our team to get involved in tasks and projects that they might not necessarily have the opportunity to do in a more conventional corporate set-up or within a hospital setting. This, in turn, promotes individual growth.”
Like Valiance Healthcare System, a number of unconventional start-ups are constantly in the search of collaborative workspaces that encourage them. According to a
research by JLL India, a global real estate services firm specialising in commercial property and investment management, India boasts of almost 100 co-working space operators as of today.
New Delhi-based co-working space provider, Awfis Space Solutions announced the launch of its Hyderabad centre at Taj Deccan hotel. “This is our latest addition to our South expansion. We have 18 co-working centres across four cities — Hyderabad, Delhi, Mumbai and Bengaluru. We plan to take this number to 25 in six locations by April, ”says Awfis founder and CEO Amit Ramani in an interview with The Times of
India. Innov8 — another provider from the capital — also expanded its operations in Bengaluru after venturing into Chandigarh. The company raised an undisclosed amount in an angel round enabled by Lets Venture and Venture Catalysts in March, as reported by The Economic Times.
Investopad, 91 Springboard and Alt F are some other providers that operate out of Delhi are spreading their wings across the major metros. “Among the main drivers of this phenomenon are the increasing number of freelance professionals and consultants in today’s globalised workforce, for whom co-working spaces are now all the rage across Indian metros. Also, co-working business centres are in great demand with corporates looking for flexibility in work locations, ”says Nitish Bhasin, managing director, markets at JLL India.
Flexible working hours, affordable rents and an inspiring community amidst an uplifting environment are only some of the reasons youth today desire operating out of a co-working space. Whether you’re a business traveller in the city for a few weeks or a budding entrepreneur on the look out for a creative hub, the array of versatile co-working spaces won’t disappoint.