Bengaluru Becomes The Hub Of Co Working Space
The Co-working Spaces concept is getting all trendy, over the past two years the facilities provided are now quickly evolving in the country like cafes & recreational corners, besides even providing career assistance. Initially, the co working boom has fueled by the country’s burgeoning start-up ecosystem.
Bengaluru, the city with the world’s third-highest number of startups, also has the most number of co-working spaces in India. Mumbai the country’s financial capital comes second.
According to the recent article published by The Times Of India the Co working operators have leased over 8 million square feet of office space till April 2019 across eight major cities, driven by rising demand for flexible work spaces, particularly from startups. More than 120 co-working operators compete in these cities. Check the SURVEY GIVEN FROM THE TIMES OF INDIA. Currently Bengaluru, Mumbai and Delhi-NCR has the most co-working stock in India, followed by Pune and Hyderabad.
Bengaluru occupies a prime place for the entrepreneurial activity and has a lot of traction for co-working spaces. Typically, the co-working spaces work on the plug-and-play model with startups occupying spaces without starting hassles. As of now, this is considered a red-hot sector of the commercial real estate and is sprinting forward with each passing day.
Co-working spaces in Bangalore is a boon to many startups. Bangalore is known as the Silicon Valley of India and rightly so. Thanks to the presence of thousands of software and IT companies in the city, it has emerged as one of the largest IT sectors in the world.The city has risen four places in the latest Global Startup Ecosystem Ranking by San Francisco-based Compass, becoming the 2nd fastest-moving startup ecosystem, with some of the youngest entrepreneurs in the world.
With the ease of doing business increasing rapidly, thanks to numerous government initiatives, the entrepreneurial environment of India is also booming. This has boosted the demand for co working space in Bangaluru. With an increasing number of freelancers, start-ups, and other small and medium-sized businesses, the concept of co-working space in Bengaluru and other cities are gaining popularity.