Page 31 - The 20 Most Promising Co-founders in Business Industry 2019

believe profoundly that technology “ longer term.

Our vision is to have an InstaOffice
every 15 minutes and we have
As a coworking player, the value
achieved this in Gurgaon to a large
you provide to your community
extent and we plan to achieve the
in terms of building community
same in every commercial micro-
and customer satisfaction is what
market because the customers are
teams that look
keeps the company growing as
increasingly mobile and our goal
maintaining occupancy in the long
into community
is to create more spaces and better
term is going to be hard.
services while continuing our
model of revenue share. We also
association
and
industry
IT
engagement in the
benefited with large tax holidays,
is the future of bringing together building, increasing Most Industry have their industry
a large network of people, so we office, with events free land, special tech parks when
are investing in apps where the and partners each were making 25% plus
community can engage, book margins and highly profitable but
meeting rooms, etc. Co-working industry has not been
Challenges in the Industry able to form an industry association
which makes it hard to put forward
Coworking in India has a lot of requests to Government authorities
players (organized and unorganized) in i.e a commitment of Rs 36 Lac. for subsidies, lower GST, lower
who have entered, which leads to a Thus the entrepreneur really need to TDS etc.
We have dedicated “
very high degree of competition. make a commitment of Rs 75 Lac Indian real estate Industry has
The players which have the most just to take his own space. Now, this unique dynamics as it changes a
optimum operating cost structure is a sizeable commitment without lot in the same city, with prices
and less economic risk will continue considering the additional hassle sharply varying from locality to
to flourish. We may also see a lot of of wifi, admin expenses, beverages, locality. The customer in India is
companies merging together in the generator, electricity, water, etc. also extremely price-conscious. The
near future. While in a Co-working space he simple facts like the quality of infra,
For a long time, most companies in can easily just pay Rs 1.5 Lac as operating cost structure, locations
monthly rental and just 1 month
India have been stuck in traditional of deposit and he does not have to and adherence to regulations vary
leases. But over the last 3–4 years take any hassle at all and have full from one coworking operator to
companies have realized the flexibility of upsizing or downsizing another. Therefore in India, multiple
benefits associated with cost and thus co-working spaces solve all of players with multiple products can
convenience of coworking along these issues for these companies co-exist and these will continue to
with networking opportunities. and highlighting a very strong value grow.
Therefore, over the next 5 years, we proposition vis-a-vis traditional Delivering Distinction
will see tremendous growth in India leasing.
and coworking as Industry will We focus not just on customers
become a very large Industry easily India is in its nascent stages when but on ensuring our employees are
10–15 times what it is today. it comes to coworking. While in happy too. Like any hospitality
Due to the inefficiency that existed India companies such as Regus has company, our clients first contact our
been existing for over 15 years, community managers, who are the
in the industry where the landlord Coworking has really picked up in face of our company. We empower
demanded fixed rental, 3 year the last 3–4 years. But because of our CM’s to take decisions, in fact,
locks and 6 to 10 month of rent lack of undefined rules, a number we empower all our employees to
as a security deposit, only those of players have opened because make decisions.
companies which were corporates of no regulated policies, and may
with steady cash flows could afford struggle with filling the space up One of the simple but innovative
them, startups with lesser cash flow quickly - this leads to the high cost thing we have done is to ensure
will not be able to afford them as well and oversupply in the short term. there is an IT person sitting out of
as managing a space also takes a toll Moreover, traditional players like each center because we know how
on companies. Like for example, landlords and property owners important the internet is. But what I
a company of size 20 will need at and those who come from real have noticed is that they go beyond
least 1500 Sq ft space at a rental of 1 estate background often think of their scope to resolve issues and
lakh INR and a CAPEX of 30 Lakhs coworking as putting together that makes us our clients extremely
INR along with a commitment of 10 an infra and selling the supply in happy. We also have dedicated
Lakh INR as deposit and on top of distributed pieces in smaller sizes, teams that look into community
that it needs to sign a 3 year lock which might not play well in the building, increasing engagement in

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