5 Top Benefits of Coworking Spaces for Tech Startups in India

Why Tech Startups in India Are Attracted to Coworking Spaces

by | posted in: Coworking Spaces, Indian Startup | 0

Over the past decade, coworking has become the favorite commercial real estate choice of a vast majority of Indian startups, especially early-stage tech companies. Unsurprisingly, the IT sector is one of the largest consumers of coworking offices in the country. 

So, what is the reason for this increasing popularity of shared offices among IT/ITeS companies? Is it just cost-effectiveness? Or, are there any other factors that make tech companies thrive in shared offices? 

In this blog, The Office Pass (TOP), one of the leading coworking office providers in India, talks about how coworking spaces are beneficial for tech startups. Let’s check out the top 5 benefits as mentioned below:- 

6 Tips to find reasonably priced commercial Coworking Space in Gurgaon

5 Top Benefits of Coworking Spaces for tech startups

  1. Facilitates Innovation
  2. Helps Attract the Best IT Talents
  3. Increases Visibility Though Location
  4. Reduces CapEx and Other Costs
  5. Offers Unmatched Scalability

1. Facilitates Innovation

The Indian tech startup ecosystem is quite competitive – it comprises thousands of companies, many of which offer similar products/solutions and target the same markets. The only way tech startups can differentiate and make a mark in such a highly competitive landscape is through constant innovation.

One of the key benefits of coworking for tech companies is that it provides them with a stimulating environment that drives innovation. The layout and design of shared offices help tech teams leverage the power of collaboration while developing new products and IT solutions.

That’s not all. Tech companies often need an environment that allows a seamless transition from solo work to collaboration. While developers and engineers need spaces to meet and exchange ideas, they also need quiet corners for focused work. With designated areas for collaborative and solo work, coworking offers them the best of both worlds. 

đź’ˇ Are you looking for Coworking space in Gurgaon, Noida or Delhi?. We are just a call away.
Call now: 08999 828282

2. Helps Attract the Best IT Talents

Due to the stiff competition in the IT sector, tech startups often have a difficult time finding, attracting, and retaining top IT talents. Today, it is not enough to offer attractive salary packages – flexibility is a key priority for many tech professionals, especially in the post-pandemic world. 

Reports suggest that over 47% of Indian tech firms are willing to offer flexibility to lure the best of talents. Here again, coworking enables IT startups to offer their employees flexibility on three fronts – where they work (location), when they work (work hours), and how they work (hybrid office spaces). 

(i) Flexible Locations: By choosing neighborhood coworking, companies can choose seats /desks in more than one location in the city and allow employees to work from an office closest to their residence.

(ii) Flexible work hours: Flexible work schedule is essential for IT startups, especially when they work on time-sensitive development projects. Tech teams operating from shared offices can plan their day around their most productive hours – they can start early, work late, or come to the office only on particular days of the week. 

(iii) Hybrid spaces: When working from coworking offices, employees need not sit at their desks all day. They, on the other hand, can switch between desks, common work areas, meeting rooms, private nooks, etc., based on the type and intensity of the work. 

All these factors help early-stage IT startups create a vibrant and productive work culture that attracts top talents in the industry. Moreover, coworking also enables them to build remote and distributed teams. 

3. Increases Visibility Though Location

Location plays a crucial role in the success and growth of IT startups. That’s why many companies choose to set up their operations in IT hubs like Bangalore, Gurgaon, Delhi, Pune, Noida, and Hyderabad. However, setting up a traditional office in the CBDs and SBDs of these cities can be a challenging task, not to mention the costs. 

One of the top benefits of coworking space for tech startups is that it allows them to have offices in the prime locations of IT hubs. Many reputed coworking operators have offices in the top business parks in Tier I and II cities. By setting up the office in such prime locations, tech startups can enhance their visibility, attract more clients, and increase their funding prospects. 

As per the report by Anarock, startups can save rentals to a significant extent by choosing coworking over traditional offices. For instance, the price difference between coworking and traditional offices in the CBDs of Bangalore, Hyderabad, and Pune is 20%, 10%, and 33%, respectively. 

4. Reduces CapEx and Other Costs

Rent is not the only expense coworking helps reduce. Tech startups often have to spend a huge portion of their budget on capital expenditure, which includes a wide range of physical assets required for the smooth functioning of the businesses. It leads to a massive cash drain and puts a financial burden on them, especially if they haven’t found an investor yet. 

Since coworking offices come fully equipped with workstations, furniture, printers, phones, air conditioning, etc., early-stage tech companies need not spend money on such assets. By reducing CapEx, companies can prevent cash drain and allocate more budget on developing and launching their solutions. 

đź’ˇ Are you looking for Coworking space in Gurgaon, Noida or Delhi?. We are just a call away.
Call now: 08999 828282

5. Offers Unmatched Scalability

Most tech startups begin as a small group of motivated people with a great idea. Soon, they find themselves ready to scale up, which involves hiring more employees, building more teams, finding integration partners and collaborators, and more. 

A start-up working from a traditional office might face hurdles when they try to scale up. For starters, the service agreements don’t allow them to add or remove workstations mid-contract period. Likewise, most agreements come with a lock-in period, making it difficult for early-stage startups to move out of the office without suffering financial losses. 

One of the notable advantages of choosing coworking for tech companies is that it allows plenty of room for scalability. As they do more hiring and expand the team, they can easily add more workstations by paying extra. Also, if they feel they need an office of their own, they can opt for managed offices.

Are you an IT startup looking for a coworking office in Delhi, Gurgaon, or Noida? The Office Pass (TOP) provides fully equipped office spaces for tech companies with flexible plans and packages. Call at 08999 828282 to discuss.

BOOK A COWORKING TOUR

The Office Pass (TOP) Opens Its 11th Office on the Golf Course Road in Gurgaon

The Office Pass (TOP) Opens Its 11th Office on the Golf Course Road in Gurgaon

by | posted in: Coworking in Gurgaon | 0

Neighbourhood Coworking and Managed offices company The Office Pass (TOP) announced the opening of its 11th office in Delhi NCR. The new office is located on the prestigious Golf Course Road in Gurgaon. This addition will further cement the company’s leadership position in the Gurgaon market. TOP is the only Coworking company to have 9 operational offices in Gurgaon. In addition. the company operates an office each in Sec 4, Noida and Mohan Cooperative Industrial Area in South Delhi.

The company has been in the expansion mode post-COVID, led by the significant shift in businesses opting for Flexi / Hybrid workspaces over conventional leases. Earlier this month, the company announced its plan to open 4 new offices over the next 6 months adding around 1300 seats to its inventory. This is the first of the four offices that the company wishes to open. 

Top Meeting Room Golf Course Road, Gurgaon
Meeting room at The Office Pass (TOP) office on Golf Course Road

TOP is the only company that offers Neighborhood offices to the Indian users. TOP offices are located in the city’s CBD areas and also around residential neighbourhoods making it easier for companies and employees to work from an office close to their place of residence/business. This concept has found favour post-COVID as employees do not want to travel long distance using public transport like metro & shared cabs. Companies also want their employees to work remotely as long as their productivity is not hampered. Neighborhood Coworking helps achieve this WIN-WIN.

“We are seeing a significant shift is customer’s preference towards flexi workspaces and would like to capitalize on this momentum. Earlier it used to take us 7-8 months to achieve break-even, however, post-COVID this has come down to under 4 months. If there is no further COVID disruption, we hope to open a new office every 45 days,” said Mr Aditya Verma, Founder & CEO, The Office Pass (TOP).

Work Place and Cafe Seating
Workplace & Café seating at The Office Pass (TOP) office on Golf Course Road

The commercial real estate market in India is extremely fragmented, with multiple small property owners. An offices space of 10,000 SqFt may have 3-4 individual owners. These owners lack digital marketing & office operation skills making it difficult for them to find a suitable tenant at an affordable cost in a reasonable time. Using technology and digital skills, companies like TOP are trying to formalise this un-organised market with its Neighborhood Coworking offering.

BOOK A COWORKING TOUR

Auburn Digital team at our Coworking Office in South Delhi

Harsh Kedia – Journey from a small village to heading a full-service digital agency

by | posted in: Digital | 0

Under the founder speak initiative of The Office Pass (TOP) christened #TOPTALKS, we are pleased to share the story of Harsh Kedia, Director of Auburn Digital Solutions. Harsh & his team has been associated with TOP Coworking space for over 1 1/2 years. Auburn is a full-service digital agency headquartered in Mumbai, and has its branches in Delhi, Bangalore & Kolkata. They build brands with 360-degree solutions and create digital experiences. In this post, Harsh shares his experience of building and scaling the company.

Q. Tell us something about you (education & experience) and the business you started?

A. I’m Harsh Kedia from a very small village of India and before I started my journey of entrepreneurship I’d been working with some of the leading names in the agency and corporate sectors like Zenith Optimedia (a Publicis Groupe company), People Interactive and Zee Telefilms.

Q. How old is your company and how did you think of this concept? What problem are you trying to solve?

A. I like to say that Auburn is just 9 years young! We started this exciting journey with some great ideas and tons of passion. This zeal is part of our core, and makes us who we are. We have brought this approach to helping brands navigate the creative and marketing challenges of doing business in a hyper-digital age. As digital technologies keep evolving, we keep learning and bring in new and innovative approaches to solving challenges for brands and companies.

Q. What is your business model (how do you make money)? Would be great if you can share some actual data like revenue growth (QoQ or YoY), active user/customers, new initiatives etc?

A. We offer different models of engagement with our clients. Besides the common agency retainer model, we also create other partnership models to provide flexibility in our service offerings. Our offerings comprise of performance marketing, brand building, creative technology offerings, creative social media marketing, and building interactive touchpoints between brands and audiences. We have worked with over 200 clients globally in multiple categories like BFSI, FMCG, Consumer Durables, Telecom, Auto, Tech, Ecommerce and many more. A campaign delivered by us made it into the Guinness Book of World Records for “highest number of organ donation pledges” collected in a single day.

Q. Top 3 steps taken by you to attract and retain talent? Explain how you develop/nurture talent in the company?

A. At Auburn we believe in the value chain of talent development, co creation and career progression. We make it a point to hire curious, passionate and high-energy individuals and provide them with great learning and growth opportunities. We invite them to be co-creators in our campaigns and provide in-house training sessions for enabling career progression as well as job role changes within the organization. This approach has worked well for us and we may quite possibly have the lowest attrition rates in the industry.

Auburn Digital Solutions Team
Auburn Digital team at our Coworking Office in South Delhi

Q. Tell us about your workspace (own office, coworking office, managed office or anything else like home office or hybrid working environment) and the reason for opting for them?

A. We were very glad to partner with The Office Pass as it is a one stop shop for all our workspace needs. Having a good quality professional work space solves a lot of infra and workspace-related problems and The Office Pass, provides us a solution which takes care of these requirements.

Q. What do you like to do in your free time?

A. In my free time I like to spend time with my daughter. When she allows me, I also spend time in fitness center and movie binging. Occasionally, I also go out with friends and family members.

Q. Tell us about your experience with The Office Pass (TOP)

A. Our experience with The Office Pass as been very positive. We have been able to keep organizational focus on service delivery for our clients because a lot of infrastructure needs are taken care of professionally, with good levels of servicing.

Thanks Harsh for your time!

Congratulations on the great work you are doing in building Auburn Digital.

BOOK A COWORKING TOUR

Amazing Shared Office Spaces in Delhi NCR for Startups & SMEs

The Office Pass (TOP) plans to open 4 Neighborhood Coworking Spaces in next 6 months

by | posted in: Coworking Spaces | 0

 

Gurugram, 1st March 2022: Neighborhood Coworking operator The Office Pass (TOP), which currently runs 10 Coworking offices in Delhi NCR, plans to open 4 new offices in the next six months. This expansion is a result of strong demand for flexible workspace post covid. Companies and employees want to work in an office space close to their residence/business and that is creating a tailwind for Neighborhood small office format. This expansion will strengthen TOPs dominant position further and will make it the largest Coworking operator in Delhi NCR with 14 offices.

  • The company plans to open one office every 45 days starting April 2022
  • TOP targets to become the largest Coworking spaces operator in Delhi NCR

 

Out of the 4 new offices, 2 will come up in Gurgaon (one each in Golf Course Road and near HUDA City Center metro station). They will have a combined capacity of over 650 seats. The first office will become operational in March 2022 and the second in May 2022.

“Pre-COVID it used to take us 7-8 months to achieve breakeven in an office. With companies moving away from traditional leases and people preferring to work from an office close to their place of residence, we have seen a much faster adoption of the Neighbourhood Coworking model. Our last office (with 600 seats), that opened in November 2021 has achieved break-even in under 4 months. This has encouraged us to scale faster. If there are no covid related disruptions, we hope to open one new office every 45 days starting the coming financial year,” said Mr. Aditya Verma, Founder & CEO, The Office Pass (TOP).

TOP plans to add capacity at its existing office in Mohan Cooperative Area in South Delhi. The occupancy at the current office crossed 90% in February 2022 and South Delhi area continues to see high demand for Coworking. The company has already taken additional area in the region and will make the new office operational in April 2022. This will add another 170 seats to its South Delhi inventory.

The 4th office is planned in Noida or in an unrepresented location in Gurgaon. This will be a 450 seats facility and will be operational by June-July 2022. These new office spaces will see the firm adding around 1250-1300 seats. TOP also plans to enter the Mumbai market in the coming financial year.

The Office Pass, Coworking space, Cyber City, Gurgaon

Commenting on the company’s expansion Brijesh Damodaran, Partner, Auxano Capital one of the early investors in The Office Pass (TOP) said, “TOP is the first player in the Neighbourhood Coworking space and today it’s a market leader in this space. Managing the working capital efficiently along with being diligent in identifying new office spaces has been its USP. Increasing its geographical reach outside of NCR is the next big step for TOP and 2022 should see this in action.”

127 small to mid-sized companies are currently using TOP Coworking and Managed offices. TOP plans to expand aggressively and increase this to 1000 companies over the next 2 years.

“The commercial real estate space in India is largely un-organised with multiple individual owners. An office space of 10,000 SqFt typically have 3-5 owners. With no formal training in digital marketing & office management, the landlords find it extremely difficult and cost prohibitive to find a tenant. Post covid, the demand has shifted from traditional leasing to flexible workspaces and we see huge upside for companies like ours to organise this market,” added Aditya.

The Indian flex space market has seen huge growth over the last few years. It is still very early days for Coworking players. It is pertinent to note is that the current flex market penetration in total office stock stands at approximately 3.5%.  According to JLL’s office market report, India’s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years.

The demand for flexible workspace was largely driven by freelancers and start-ups in 2015-2019. However, post COVID, organisations of all sizes have developed a fancy for this format. Going forward the demand will be largely driven by small to mid-sized companies and large companies and MNCs using Coworking for their distributed / hybrid office formats.

 

About The Office Pass (TOP)

The Office Pass (TOP) is a technology-driven Neighbourhood Coworking & Managed Office space provider. TOP is the only Coworking & Managed Spaces Company in India that promotes #Walk-to-Work. TOP’s vision is to have multiple Coworking offices spread across the city. TOP offices are located in CBD areas and around residential Neighbourhoods, so one can find the nearest office in less than 10 minutes.

TOP currently runs 10 offices across Gurgaon, Noida and Delhi. 127 mid to large size companies are using TOP Coworking and Managed office services. The company plans to open over 50 Neighbourhood offices over the next 2 years with presence in multiple cities across India.

One can think of TOP as a Convenient store (like 7-ELEVEN) of Coworking.

To learn more, visit www.theofficepass.com and follow TOP on LinkedIN, Facebook and Twitter.

BOOK A COWORKING TOUR