Tech startups are at an all-time high in India right now.
So much so that India is proving to be a breeding ground for startups — in 2019, India stood firm on its position as the third-largest startup ecosystem in the world. Owing to which, workspace is not only critical but also a necessity for startup owners to think beyond their imagination, implement their ideas, and get the required support.
Why Office Environment and Space Matters to Startups?
Startup environment can be best described as dynamic.
So while starting out from your home’s dining area or garage, or even room would sound like a perfect plan, you would soon realize otherwise.
The right environment aids productivity, gets you operational support and you stay connected to the community as well.
All of the factors that play a crucial role in determining the success of a startup. As it is said: you are an average of 5 people you spend the most time with.
This fits apt to the coworking culture as well, a place where you will find people from all walks of life, striving towards their own goals. In this blog, we are going to learn how tech startups can benefit from coworking spaces, eventually contributing to the success of the startup.
Advantages of Coworking Spaces for Tech Startups
1. Inspiring Spaces Encourage Creativity
Gone are the days when people worked out of dull cubicles with blank walls staring back at them. Top it with the restricted time for taking breaks, lunch and pre-decided office hours. Furthermore, you can only build your network with the members in the same circle as you.
However, with the changing trends, raising awareness about how the workspaces affect mood and productivity, criteria for selecting the workspaces are also fast-changing. People prefer working out of spaces that amplify creativity, innovation and motivation.
The architecture, lighting and the way furniture is spread in the coworking spaces strives to bring people closer for collaboration and networking, contributing to the growth of their businesses. Each space is crafted carefully to foster community interaction, spreading positive vibes, and not to forget, increasing productivity.
2. Working Hours Flexibility
The constant change in staffing requirements for startups should come as no surprise. As a tech startup founder, you can get shared office spaces to accommodate your team. Or, if you have to invite a client over for meetings, you can get meeting rooms upon request.The best part is that the spaces cater to the requirement of all types of teams. For say, developer teams enjoy the flexibility in work hours and also feel the comfort that they usually get from working from home.The open spaces, break out spaces, communal kitchen and desks are designed in a manner that facilitates freedom of mobility without disturbing one another. Moreover, with the constant changes in team size and other factors, coworking spaces prove to be pocket-friendly for tech startups. Let’s see in our next point, how.
3. Financially Viable
Apart from aiding the creativity, coworking spaces are known best for reducing the cost incurred by startups. How?
First, there is no upfront cost for setting up the shared space.While if you go out to lease a property, you need to pay upfront and also get into a contract of anywhere 3-5 years. Not only this, leasing the property comes with the cons of maintaining the space, and also purchasing hardware.Second, at the shared office spaces, you get everything bundled with your package to aid your daily operations. From leasing printer, computer, desktop to internet services, maintenance, and edibles, these spaces are known to deduct cost tremendously.Not only cut the cost but also you, as a startup owner, do not have to bother about these things on a daily or monthly basis.
4. Tech Events & Meetups
Coworking spaces facilitate companies to run events in the premises only so that they do not have to look elsewhere. Not to forget, you get to meet amazing new people, potentially great for your business and learn something new, every single time.
Pannal Dehradun is on of the best places in Dehradun to host tech/IT meetups, in the month of August, Pannal hosted a Cyber-security event known as “I am hacked.” This event was aimed at raising awareness about cyber-crimes owing to the increasing number of crimes that were affecting fortune 500 companies and government agencies. Therefore the need to educate each individual to be immune of such crimes, and raise awareness this event was conducted.
The best part was that this event was not limited to techies and IT professionals but also for common people who use internet extensively. Events like these bring the community closer – keeps one updated with the latest information and network & meet like-minded people in the industry. Moreover, the best of inspirations are drawn from these events.
5. Incubation Support for Amplified Business Growth
Business incubation is another factor that attracts tech companies to coworking spaces. Starting out and operating smoothly is a journey that’s full of roadblocks, we understand.
Our business incubation support takes half of the burden off your shoulder which includes HR, Accounting, Payroll management, Virtual CFO and financial reporting.
The services provided in the incubation support strive to support startups in their initial years and help them grow and accelerate their business with the help of targeted services. This support also extends to resources like shared spaces and amenities that startups are free to utilize.
Bottom Line
So these were some ways tech startups are able to benefit from the coworking spaces.From shared spaces to networking and resources at disposal, we are sure you the gist of how coworking spaces work out.
Have any more questions? Do not hesitate to get in touch with us!Know any startup owner? Do not forget to share this article with them.
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Raju Sharma
Raju is an accomplished Business development leader offering over 19 years of experience, driving revenue through generating, building and maintaining client relationships. Raju is very creative and dynamic marketer with proven expertise in consistently penetrating new markets to ensure sustainable revenue growth. He leverages exemplary communication and in-person meetings with clients to establish presence and build a positive brand while fostering continuous client engagement. Adept at working effectively to achieve goals both as a cross-functional team member and business leader.
Chiranjiv Kr. Sharma
Chiranjiv is profit-oriented Chief Executive Officer with demonstrated success with 20 years’ experience in managing finances, administration, IT team, achieving cost reductions, and improving customer satisfaction in customer-facing operations. Chiranjiv has expertise in management and implementation of complex technologies and successful organizational integrations also including unique digital marketing planning and execution.
Himanshu ChauhanKobybo – CEO
A multi-faceted professional, skilled in blending creative intellect/insight and sharp planning skills for managing business operations & meeting top/bottom-line objectives as well as amalgamating the industrial experience with classroom learning, in field of Marketing Management, Brand Management & Entrepreneurship. Himanshu has worked in the Banking domain and has gained in-depth insights in this sector. In his career Himanshu has handled the portfolio of 73 bank branches across NCR & Western UP, where he efficiently managed portfolio of business worth Rs 500 million per annum and achieved growth rate in double figure i.e. 250 million INR in 4 years with growth rate increased from 3% to 14%.
In recent years, Himanshu shifted his attention to the e-learning sector and has successfully established one of the top E-learning enterprise in Dehradun, Uttarakhand; with which Himanshu has successfully helped bankers & exporters to enhance their total revenue by INR 360 million. Himanshu brings in vast Sales and Marketing experience to the community at Pannal.
Manmohan Agarwal
Manmohan is a serial entrepreneur, angel investor and a qualified Chartered Accountant. He is the former CEO and Co-Founder of Yebhi.com and former CEO of Vishal Retail Limited. At Yebhi, he successfully raised several rounds from prominent VCs such as Qualcomm Ventures, Nexus Venture Partners and Catamaran Ventures. Manmohan started his career as an entrepreneur, setting up the first private gold mine in India. Thereafter, he was the CEO of Vishal Retail and was instrumental in expanding its business in India. With his practical industry experience, he is on a journey to evolve the Indian E-commerce and logistics framework.
Ravish MehraPartner – Cadence Partners
Ravish is an independent design professional having obtained a B.Arch. from School of Planning and Architecture (SPA) New Delhi. he is a member of the Panel of Council of Architecture for Inspection and Accreditation of Architectural Institutions since 2002. He is a member of various committees constituted by COUNCIL OF ARCHITECTURE 2002-2004 and also a member of Technical Advisory Committee for appointment of consultants for India Institute OF Management, Rothak (IIM-R). He has handled architecture, interior design and remodeling oriented projects all over the country and has been extensively involved with retail design, corporate design, hospitality design and creating corporate identity system. His current projects include work for B.P.Os and K.P.Os for various telecom companies in India, Africa and South East Area. He is also involved with I.T. sector projects in North and South India.
He has industry focused knowledge in creative strategy, art direction, advertising, logo design, interior architecture, furniture, comprehensive planning, branding & identity, strategic planning, urban planning, corporate branding, architecture, marketing, photography and mixed use.
Vaibhav GuptaPartner – Direct Tax, M&A
Vaibhav is a fellow member of the Institute of Chartered Accountants of India (ICAI) and a company secretary. He has worked with international consulting firms for more than a decade before venturing into own consulting firm. He has over 16 years of post-qualification experience in corporate tax, international taxation, transaction tax advisory and business restructurings along with valuations, compliance and regulatory matters.
Vaibhav has extensive knowledge and expertise on advising on transaction structuring including demergers, acquisitions, corporate restructuring, capital restructuring, promoter shareholding, family settlements, advice on technical collaborations, cross border taxation like inbound and outbound investment structures, international holding structures, creating holding structure to capture value of operating companies, succession planning, enhancing promoters’ stake and tax due diligence.
Varun TomarDigital Marketing Manager – Pannal
Varun graduated in Business Administration from IIPM, New Delhi; and later completed his Master’s in Strategic Marketing from Coventry University UK. Varun is a full-stack marketing professional who manages both Online and Offline marketing operations for Pannal. With more than 5 years of work experience Varun has worked extensively in Digital Marketing, Search Engine Optimization and Website development domains, from working with Ecommerce Startups like Nutrabay to top IT training MNC like NetCom Learning Varun has acquired extensive hands-on experience and skills which allows him to create potent Marketing strategies to help the organization achieve their goals efficiently.
Email: marketing@pannal.work
Bhishek SinghHR and Payroll Manager
He has an MBA from ICFAI University
Bhishek has total of 10+ Years of rich experience in handling different HR functions/ verticals as per the organizational policies and defined roles. He works on strategic initiations, maintaining and enhancing the organization’s human resources by planning, implementing, and evaluating human resources policies, programs, and practices. He has developed an expertise in recruitments, talent acquisition, employee relations/ engagement, payroll and compliances.
Email: hr@pannal.work
Madhavan SrivastavaCorporate Counsel- Pannal
Madhavan is a corporate lawyer and completed his law from Campus Law Centre, Delhi University. He has vast experience in corporate laws and litigation with a focus on Fundraising, M&A, Joint Ventures, Private Equity, Commercial Contracts and General Corporate Advisory. Before setting up ‘Law Office of Madhavan Srivatsan’, a boutique law firm, he has worked in corporate laws as a Partner with one of the leading law firms in India and with a senior advocate in litigation, as well as worked as in-house counsel.
Currently, Madhavan provides legal advice to several entrepreneurs, start-ups SMEs and corporates. He has industry specific expertise in renewable energy, education, consumer goods, trading and merchandise and sports law. He has suitable mentorship quality for each of the stakeholders in corporate matters, whether it be the company, founders or investors, and is the perfect Friend-In-Need for our members at Pannal.
Ajaya GuptaPartner- Cadence Partners
He is MBA, Engg, PMP Certified, MPM, ITIL, SOX TOGAF, ScurmMatser, SAFe, BI 101
Brings 35 years + experience in International Business, PMO/Program-complex Project Management, Best Practices and creating Center of Excellence. Worked as a Technical Advisor/Vice President/Country Head/Director with Multinationals, Global Corporate groups based out of UK, US and SE Asia. Worked with Fortune 100 Groups in Strategic IT Consulting, Healthcare, Supply chain, Entertainment, Automotive etc providing Creative Business Solutions, Process Excellence, complex Project Management, launched Products, created USP in global markets and making Outstanding things happen.
Author of Book ”Make Outstanding Things Happen with Center of Excellence”- winner of Independent Press Award. Founder@ BPOP Group @ linkedin for Best Practices where Mind meets Excellence.
Lokesh KumarSenior IT Administrator- Pannal
Lokesh is the Senior IT Administrator at Pannal, bringing in more than 10 years of experience to provide integrated technical expertise to our members. He holds a Diploma and B.Tech in Computer Science & Engineering, with specific focus in operating systems, computer networking, computer architecture, internet and e-commerce. He has worked at several organisations including Ramtech Software Solutions, ADI, SilverFox Web-Solutions and India Mart. He has also co-founded Aaden Business Solutions which provides quality and economic IT solutions to startups, SMEs and larger organisations. At Pannal, Lokesh is the single point of contact for all your IT needs.
Email: itsupport@smprofessional.info
TCS EaswaranAssociate Partner- Cadence Partners
TCS is an Associate Partner at Cadence Partners LLP. He is a qualified Chartered Accountant and an alumni from St Xavier’s College Kolkata. He has more than 30 years of industry experience in Strategy, Business Planning, Outsourcing, Forecasting, Management Consulting, Financial Modelling, Software Project Management, Offshoring, Managerial Finance, Process Improvement, Business Transformation, Strategic Planning, CRM, Mergers and P&L Management.
He has global experience, having worked with Shaw Wallace Co, Xerox India, Qualcomm India, EDS, IBS Software Services, Brahma Group and Birlasoft. As a visionary and thorough professional, he is associated with Cadence to provide virtual business support to entrepreneurs, startups and SMEs.
Shafali AgarwalSenior Partner- Cadence Partners
Shafali is an entrepreneur, founder, angel investor and a professional mentor. Shafali is a Chartered Accountant (an all India Rank Holder – 47th), an alumni of Sydenham Mumbai(B.Com.) and Welham, Dehradun. Her experience is a blend of over more than 25 years in direct industry as well as advisory. She brings with her a rich experience in providing support to different operational verticals including finance, accounting, HR, facility, administration and legal compliances. She has worked in various Indian and foreign organizations such as Dentsply, Butterworths, the Emirates Group, Electronics Data Systems (EDS) and Astra Business Services.
She also co-founded Knowledge Podium Systems and was integral in their product development, setting up their financial, accounting & HR frameworks, and compliances. Her core expertise is to be able to act as a business partner to the core management team, bringing in depth experience of various industries and integrating different organizational verticals.
Email: shafali.agarwal@cadencepartners.co.in
Mukul AgarwalSenior Partner- Cadence Partners
Mukul is a business leader, disruptor, founder, angel investor and a professional mentor. He is a Chartered Accountant, LL.B (Merit Holder and Gold Medalist) and B.A in Political Science. Mukul brings in more than 29 years of general management experience, P&L management, business strategy & planning, evolving new business models. He has worked with several MNCs, Conglomerates, BPOs and startups. He has global experience across India, South-East Asia, Europe and UAE, having worked in various Indian & foreign organisations such as HPCL, Hughes Software Systems, SDRC, UGS, Eurostar, Astra Business Services and Dassault Systemes.
He has lead different portfolios including finance, accounting, tax, HR, IT, procurement, infrastructure development, corporate simplification, BCP &security, CSR, sustainability, adherence to carbon footprint, and other cross functional business operations. He has also managed legal & statutory compliances, been part of management committees, arbitrations and employee litigations.
Combining his business and management expertise, he has focused on providing strategic and operational support to startups in their evolution process as their virtual COO/ CEO/ CFO.
Email: mukul.agarwal@cadencepartners.co.in
Phone Number: +91 9810092430
Manav MukulCo-Founder – Pannal
Manav is the co-founder, head of sales and operations at Pannal with a focus on leveraging his experience to provide the best customer experience to our members. He holds a Bachelor Degree in International Hotel Management from Les Roches, Switzerland in addition to an MBA in leadership & finance from Glion Institute of Higher Education, Switzerland. He is also an alumni of the British School, New Delhi. Before co-founding Pannal, he has worked with established hotel conglomerates such as the Westin, Taj Palace and Lemon Tree.
Email: manav.sales@chryslertechcentre.com
Shantanu MukulCo-Founder – Pannal
He holds an LL.B. (Honors) from Durham University in England and a Bridge Course (LL.B.) from National Law University (NLU) Delhi. He is also an alumni of the British School, New Delhi.
Having shadowed a senior advocate in the Supreme Court and interned in several prominent law firms globally, he has gained legal experience in corporate laws, M&A, competition law, constitutional law, litigation, direct & indirect taxes.
An active member at Pannal, his efforts are targeted to manage the legal framework, design and develop the infrastructure, drive the marketing drive, ensure client satisfaction and provide operational support to the entire team.
Email: connect@pannal.work
