Bengaluru from what started as Electronic City a few decades back, now it has turned into Indian Silicon Valley. Also undoubtedly it is Startup capital of India, Top-tier new age MNCs such as Google, Amazon and blue-chips like Infosys among many others are actively present there for a long time. This has helped to create a new breed of a generational workforce who is certainly Tech savvy has experience with state of the Technologies and in line with new agile innovative culture imbibed by dynamic Software Industry.Let us check how Coworking spaces bengaluru has helped many aspirants.
On the academic front, a center for advanced education and learning with premier institutes like IISC,IIMB has helped it to be a happening hub for Businessmen and Technocrats alike. Apparently, post .com bubble, last decade saw the emergence of new age Startups and Digital technology disruptions to the traditional Business models.
So are you a new generation Startup hoping to make it a small dent in the world? Here’s how the sprawling Coworking Spaces in Bengaluru are helping the ecosystem as a viable office real estate option.
Startups in BengaluruIt is estimated to have around 2300 hundred startups. It contributes to around 30% of the Startups in India. Also globally it ranks amongst top 20 in global Startup hot spots. Highly educated, experienced yet affordable Tech resource pool makes it an attractive choice as a Startup destination. Aided by various Government initiatives and supplemented further by Global VCs and Incubators the ecosystem has nourished and thrived at a high pace.Amongst success stories from unicorns like Flipkart, InMobi, Mu Sigma to many new generation innovative companies are rapidly evolving making it a desirable place to be. Of course, it has led to a real estate boom. Office spaces in Bengaluru are one of the premium real estate corridors in India. Let us see how these evolving Startups are addressing Office Space challenges here.
Bengaluru Office Real Estate and Coworking Spaces Bengaluru
Bengaluru along with NCR and Mumbai accounts for 60% of Office Space demand in India. In 2016 Top eight Cities accounted for 34million square feet and Bengaluru is having high-test net absorption. Though largely dominated by IT sector blue chips, it has many other MNCs and core companies which competes for real estate at premium price hence it makes it tough for Startups to look for formal office spaces. Startups being often modest in size and resources often face a big hurdle of finding a right office space within a very lean budget.
The opportunity has been further complemented by new generation workforce which values more flexibility and community-based working. This has given rise of Coworking Spaces In Bengaluru. Many Big Coworking companies like WeWork, Bhive, Awfis supplemented by many local Shared Offices or Coworking centers are unleashing this potential. Potentially this is win-win for both as Startups are getting well furnished ready to use plug and play places at an affordable cost while leveraging the advantages of flexibility, the convenience of community-based working.
Benefits of Coworking Spaces for Startups
- As these are managed spaces hence no hassles of office space management
- Plug and play places with necessary connectivity infrastructure
- Amenities and facilities management
- Being shared spaces Costs are optimal and recurring
- Often no long leases hence suits dynamic office space requirements for Startups
- Advantage of community working, knowledge availability and security sharing etc
- Modern yet trendy informal places makes working fun
- Often supplemented with cafes, food joints or bars
- Bookings can be done online using websites or apps