BANGA INDIA’S COWORKING

LORE HOTSPOT 2017

BANGALORE’S LARGEST
COWORKING SPACE PROVIDER

INDIQUBE.COM
Almost 350 shared office operators are present in India, with majority of the players offering
co-working and incubator spaces. These are spread across more than 800 locations, mainly
present in the 'business center' and ' co-working space' format.

Leasing activity by co-working and business center operators more than tripled in 2017 as
compared to 2014, with 2017 alone witnessing leasing of more than 1.5 million sq. ft.

Cost saving of at least 10 - 25% by leasing in a co-working space as compared to conventional

leasing in the larger cities of Delhi, Gurgaon, Bangalore, Mumbai and Pune is envisaged.

As office rentals continue to inch up across India, the total space leased by co-working
operators in tier I and tier II cities is expected to be almost 6 - 10 million sq. ft. by 2020.

Occupier focus on business operations over RE decisions, increasing occupier awareness of

co-working as an alternate option, the rising acceptance of ‘remote’ working and an increased
preference towards flexible leasing terms will be factors that will drive demand for co-working
spaces in the times to come.
 "With an estimated 15 million freelancers operating within the country, India is second only
to the United States in regards to the amount of active independent workers worldwide,
making it the perfect environment for a new co-working industry to blossom."
Rishi Das, Cofounder - IndiQube

IndiQube had predicted that an unprecedented growth in the number of startups and SMBs in India will propel the
growth of the co-working space segment in India by almost 40% percent in the year 2017.

Co-Working spaces in India at present have proved to be a shot in the arm for startups, as SMBs and young
entrepreneurs in India who do not have the budget to shift to Business Parks in the nascent stage of their business.

The company also states that scalability will play a key role in bolstering the co-working space industry in India as a large
chunk of it is still being driven by old theories of commercial real-estate.

”Co-working is still driven by frayed theories of commercial real estate; key

service aspects are still missing. A right business environment will go a long
way for emerging companies to thrive by providing space to grow with key
growth drivers like scalability and flexibility.”

While startup nurturing policies of the central government are catalyzing the growth of the sector, the co-working space
sector is also drawing attention of traditional enterprises now owing to the innovative office space and lot of events and
community activities to help them nurture their growth.

Earlier this year a study by JLL, a US based investment Management Company specializing in real estate also estimated
a $400 million investment in India’s co-working space segment by the year 2018.

ABOUT RISHI DAS

When Rishi Das, co-founder and chairman of IndiQube, set up the CareerNet Consulting office space from scratch, he had
first-hand experience of the strain on resources for a startup. Rishi realised that the business world was full of entrepreneurs
who needed to find the ideal space to grow their business, without having to worry about the everyday hassles of setting up
and running a company efficiently.

IndiQube was born out of that need and from the very beginning, has been focused on being a Growth Catalyst for evolving
companies with integrity, innovation and value at the heart of everything it does.
 Total Office Area: >10 million sq.ft.
Coworking Area: >1.8 million sq. ft.

KORAMANGALA
PVR cinemas in Bengaluru's Forum mall is a multiplex like any other in most ways: the same plush seats, cursory security
checks and overpriced popcorn. But there is something unique about it: it's possibly the only cinema hall in India that shows
ads for software developer tools before the screening of movies and during intermission.

Of late, Koramangala, a quiet, elegant Bengaluru neighbourhood, has been getting quite a lot of attention - some of it
global. While startup founders and VCs from Silicon Valley watch activities here with interest, international media has been
writing about it too. Its pubs and cafes are passing into legend — one particular cafe, a Costa Coffee outlet on one of the
neighbourhood's main arterial roads, is already known as the place where startup founders congregate every day of the
week, where VCs often meet potential investees and scout for new talent, and where there are reported sightings of
Flipkart co-founder Sachin Bansal, whose office is just a few metres down the road.

In a way, Flipkart's Bansals have a lot to do with this story. Although Koramangala had become attractive as many as 20
years ago when the first bunch of tech startups and smaller software companies opened offices here attracted by low rents
and a better quality of life than the CBD area, it was Flipkart's choice of this area to start operations — initially, from an
apartment — in the mid-2000s that really catapulted Koramangala to a startup hotspot. Today, the e-commerce Unicorn
(as a tech startup valued at billion dollars or more is called), despite being in the process of consolidating its employee base
in a tech park nearby, continues to have its corporate HQ in the area.

Flipkart isn't the only 'born in Koramangala' startup. Recently, the area has seen the emergence of food delivery outfit
Swiggy; Newshunt, which aims to be India's Flipboard; HackerEarth, a talent search company aimed at finding
programmers; payment gateway Instamojo; community-based housing search startup Grabhouse; and ZipDial, which was
acquired by Twitter recently. Then there are those who have moved, like Ola which chose to shift base from Mumbai to
Koramangala.

The area also has scores of shared-seat offices, VC and investor HQs, and smart co-working and networking spaces such
as Tech Hub, an international chain that regularly hosts events and meet-ups, as well as Ispirt, which evangelizes India's
software product ecosystem.
“ The rise in demand is driven by the IT-ITES occupiers who are
executing their expansion strategies and are increasing their
real estate footprint in Bengaluru. The IT driven sub-markets NEWER
such as the Outer Ring Road (ORR) are currently witnessing
all time low vacancy rates as the demand has consistently
outpaced supply, creating an upward pressure on rents.
AREAS

Buoyed by improved economic sentiments,

steady corporate occupier interest, and its
intrinsic strengths as a pioneering hub for
technology, R&D, and shared services
platforms—Bangalore is likely to maintain its
leadership position in the country’s corporate real
estate market in the long term.

AREA NO. OF COWORKING SPACES

ORR 25
Indira Nagar 12
CBD 25
JP Nagar 6
Whitefield 13
 ADVANTAGE BANGALORE
Bangalore still has a competitive edge over other Indian cities. We can explore why.

Availability of quality workforce

The most critical aspect of every business, especially when it is centered around a knowledge-based industry is to have
quality workforce. And Bangalore is the best choice for this because it is the most happening city in Karnataka. And
Karnataka is known as the knowledge capital of India. The education system in Karnataka is pretty strong as you have 600
universities, including ITI, 135 engineering colleges, 181 polytechnics and 103 R&D departments. And that’s not all. It was
Karnataka state that took the initiative of formulating several IT centers in the city, including charting specific regulations
regarding their functioning.

Bangalore is presently in a mature state

Bangalore has evolved from a raw and fresh city into a mature city, as evidenced by the higher skill level and service options.
The city has made certain great achievements that have brought several large funds as foreign investment into the country.
Bangalore also has the lion’s share of software export from the country. The mature ecosystem of Bangalore, thus makes it
stand apart from other cities in the world.

Has a strong educational system

In Bangalore, the education system is pretty strong and this leads to the constant availability of excellent quality workforce.
This also helps in campus interviews and talent scouting as universities and colleges are not far from IT centers.

Strong infrastructure
Another area where Bangalore scores strongly is its infrastructure. The elaborate rail and road transport, combined with
access to airports and metro system makes this city one of most accessible cities in India. These infrastructures have also
contributed to the rise in FDI in Bangalore.

Many R&D divisions still prefer Bangalore

Bangalore’s attractiveness contributes to the R&D divisions that still thrive in the city. Exemplary project management
skills and service maturity reveal a highly competent workforce that holds all the high end jobs in the R&D sector. Motorola,
Philips, AMD, Intel, Google, Microsoft, Texas Instruments, Daimler Chrysler, GE, SAP and Oracle are just a few of the
major players that have set up base in the city.
ACCELERATORS IN
BANGALORE
TLabs, Kyron Global Accelerator, Ansrsource Accelerator
Program, Microsoft Accelerator, Target Accelerator, Cisco
LaunchPad Accelerator, Axilor Accelerator, Revvx
Accelerator, Oracle Startup Cloud Accelerator, NUMA,
IDEX Accelerator, Appy Hours, Brand Capital GSV, Brigade
Real Estate Accelerator Program (REAP), GSF India,
Catalyst – SG GSC Accelerator, Lowe’s Innovation Lab,
Quintype’s Speakwrite, SAP Startup Studio, Thought Factory
 WE GO BEYOND JUST SPACE
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FOR BUSINESSES TO FOCUS
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