Delhi has a large talent pool of entrepreneurs. But eventually this talent moves to other Indian cities like Bengaluru and Mumbai or worse, abroad to pursue their passion to startup. Along with that, sky-high office rental spaces in the national capital region are further deterring those wishing to startup their own project.
This issue aching the city’s youthpreneurs, freelancers and small business owners, was also felt by Dr. Ritesh Malik, creator of Y-Combinator backed Innov8 – a swanky and upbeat coworking space in the heart of the capital city – Delhi.
In simple words, what Innov8 does is that they take well located commercial spaces and convert them to beautiful workplaces and sublease them to other entrepreneurs. Located in Connaught Place, the world’s 7th most expensive office space in the whole world – Innov8 brings a useful solution to entrepreneurs who are serious about their work. Innov8 provides an opportunity for members of the space to work together and encourages collaborative projects between different companies working under their roof.
Ritesh is no newbie when it comes to conceptualizing things. He is a serial entrepreneur having started Woodapple Hospitality, ThinkPot and AdStuck as well as been an avid investor in a wide variety of companies like Mashinga, Fin Robotics & Exploride. He has also sold his most popular app, Alive to Times of India in 2013 and worked closely in building the popular Teach for India Program. He realized early that innovative work campuses help foster innovative work development. This is why he built Innov8 in such a unique way where visions of hopeful entrepreneurs often develop into a reality.
His idea has been such a success that Innov8 CP is full of occupants and has a waitlist going into the hundreds. Having had a continuous demand for more space, the coworking space is 4 floors big, which includes a terrace perfect for having open-air meetings or enjoying a cup of chai while talking business. Each floor is designed in its own unique way – thus ensuring there is something that everyone likes.
There’s a workspace available for all sorts of budgets available with individual options ranging from INR 8,500 and going up to INR 14,000 with most facilities in the space open to all. If a group of people are looking to work together, then team options are also available which go up to INR 40,000 – which also comes with their own private meeting place so that entrepreneurs can work undisturbed from any other source. The beautiful microcosm of a meeting room with access to everyone on the floor will make even the most non – creative person in the office start to have a constant flow of ideas.
The reason why Innov8 is growing as a brand is because it takes away from business owners the hassle of renting, creating and maintaining a business location. All of that is taken care of by Ritesh’s team, therefore causing large savings to the entrepreneurs as well as increasing scope of creating vital networking relationships with those sharing the workspace.
The doctor turned entrepreneur isn’t working alone in this project, though. His partners in the project, Shailesh Gupta, an IIT-KGP graduate and a silicon valley investor and Sumit Ranka, founder of ThinkPot also have big plans for the brand with plans of opening a Mumbai space by September 2016 having opened a Chandigarh space a few weeks ago. Having created a complete revamping of the coworking industry and the founders already committing US $1 Million for four future projects – Innov8 has dreams as big as the entrepreneurs working in it.
[This article is part of series where we will be covering various startup coworking spaces across the country. If you’d like us to feature your space, drop an email at firstname.lastname@example.org]