Today many coworking spaces also act as incubators and accelerators that help guide fledgling startups with mentorship, legal counsel, resources and even seed money or funding opportunities. In such cases the cost of leasing or establishing full-fledged offices for a limited duration incurs a high cost and co-work spaces are more economic options. In India’s largest economic cities like Delhi NCR, Mumbai, Bangalore or Pune, co work spaces can help reduce costs by 20-25%. The facilities that co-working spaces today provide are an added bonus. According to a JLL study, the top 2 drivers of co-work spaces are cost and infrastructure, the third factor is networking. The keyword here being Community Workspaces, most organizations in this sector go beyond providing a space and service, to offer both an online & offline community to interact with and learn from. Add the tag of an incubator or an accelerator to an established co-work space and you now have everything that a start-up or SME needs under one roof to help them grow and flourish. By 2020, about 13.5 million Indians are projected to be working out of co-work spaces, and why not, they’re cost-efficient, well-designed, and conducive to innovation and networking; it’s safe to say, coworking is the office of the future.
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