By Apart from introducing innovations in India and changing the face of how you and me carry out our routines (move in Ola, eat through Zomato, pay through Paytm), the start-up culture has also refreshed one thing that may appear to be insignificant but plays a crucial role in how one feels and prepares on a particular day to take on life.
It’s the boring and monotonous office interiors at a workplace. Startup offices have become synonymous to spaces with a splash of colours, crazy wall arts and cool posters, almost transforming them into what are termed as addas in college lingo, a popular place where youngsters strategize on anything under the sun.
Innov8 Cyber Hub, a newly-launched co-working space in Gurugram, is the latest to throw in some really cool quotient in the city by turning a piece of plain real-estate into a decorated working space full of happy vibes. From cartoon-themed rooms to dreamy set-ups, it is set to spoil you for that perfect crash-at environment to make your dreams happen.
“The basic story of the space in terms of wall art is inspiration. The center has a mix of design ideas suited to cater to both corporates and startups. We have walls with typography of quotes, 2 walls have 2 of the most successful video games and 7 walls have the minimal posters of the most inspiring movies”, Ritesh Malik, Co-Founder and Managing Director, Innov8, told GW.
The impressive interiors are only one part of the story that depicts how the owners believe in establishing a soul-connect for the youngsters and their dare to dream.
The other part speaks of Innov8’s incredible growth story and success journey taken with its clients. Clip App, a local language video sharing platform that recently got listed in Forbes 30 Under 30, was one of the first customers in Bengaluru. They started their journey with 3 hot desking at Koramangala campus in April 2017. It raised $6 million in its series-A funding led by venture capital firm Matrix Partners. The Bengaluru-based company’s existing investors include smartphone maker Xiaomi’s venture arm Shunwei Capital.
And, success stories likes these happen because Innov8 doesn’t just believe in selling space but also providing an inclusive approach to its clients.
In its bid to add value to its occupants, Innov8 collaborates with angel networks, accelerators, incubators, educational institutes to set up office hours, mentorship sessions, fireside chats and open Q&A sessions with industry pioneers.
The brand’s belief system is to be more than just an office space and provide companies the community, mentorship and access to networks and ecosystem.
“We provide support packages as part of the membership such as community interactions with all the Innov8 members, tech, legal, accounting, marketing tools in free or discounted formats so that Innov8 becomes a one stop solutions and support system for all the startups and business needs”, Shailesh Gupta, Co-Founder and CEO, Innov8, shared.
While the location – Cyber Hub – works wonders for the brand in terms of accessibility and visibility. There wasn’t an altercation on that front. “We never go anywhere, but the heart of the city. We are into real estate business in our core. Prime locations help us get the best companies, mentors and develop into the most vibrant community”, said Gupta.
Speaking on its competition, another global name like WeWork Co-Working in the vicinity, Malik said that Innov8’s local roots give an edge over the biggies. “We are the first Homegrown brand in the coworking and managed office space industry fighting a guerrilla warfare with heavily-funded global company like Wework.”
However, being a local brand isn’t a cakewalk in India.
“In a hyper-competitive like India, a local brand is often limited by low influx of capital and high-burn rate which often leads to logistical problems down the line. Also, with India being an extremely cost sensitive market, local brands also suffer from stiff local & global competition”, Malik added.
The Indian market research has pegged co-working as the fastest growing segment in real estate industry at 21% CAGR. There are around 70 lakhs white collar workers working in Grade A and Grade B buildings in top 10 cities in India. Innov8 is tapping into this vast market and requirement for workspaces.
“Even 1% penetration is big enough to make an impact in the way people think about offices and workstyle”, informed Malik.
This is Innov8’s 7th center in Gurgaon, having 500 seats. Currently, Innov8 has 3000 strong community from different companies, startups and individuals from business sectors and industry. It further aims to expand and the next 5 centres will be in Mumbai (Vikhroli, Kurla and MIDC) and Gurgaon (Infinity Tower and Sohna Road)
No matter what the materialistic achievements may be, there’s always a special moment when everything seems worth it and Ritesh finds that often in his parents’ eyes.
“I hail from a middle-class family, today we have 12 Innov8 campuses in the most prime areas of the country, from Connaught Place, to Koramangala to Cyber Hub, whenever I take my parents to these places they love them & having 2.5 lakh sq feet asset under management, in just 24 months amazes them. That’s the best feeling when your parents feel proud of you.”
What do you think?