The search result in Google or a Real Estate portals like magicbricks.com or 99acres.com suggests the availability of many co-working spaces in Bangalore. Almost all provide all the essential facilities and infrastructure needed for a startup at a budget price.
Early stages of any startup are crucial. Freelancers or startup entrepreneurs looking for their office space should never make a mistake of selecting a co-working space only by its low cost.
A right co-working space must be chosen based on the various important factors.
1. Stage of the Business
There are different types of shared office spaces available in Bangalore catering to different segments and needs of the startup. The majority are targeting segments which are really on a tight budget. However, there are some who also charge a premium for providing swanky interiors and expensive infrastructure. If you are a bootstrapped or unfunded startup testing waters, it is not a good idea to spend money on those luxury segment co-working spaces. Nor it is a good choice for funded startup which is still not profitable. Businesses should be wise in their spends.
2. Active Community
According to The Huffington Post statistics, people working in a co-working space are more productive, focused and healthy. They also share more cordial relationship and make more profit. When people work in a community, they share each other’s work. They meet people with diverse skill and culture. They make new friends. Get a chance to know their future co-founder. Never work in a place where culture is not vibrant. Never choose a place where the community is dead. A healthy community promotes and believes in the power of sharing.
3. Frequent Meetups & Events
There are many co-working spaces present in Bangalore, but there are only very few who organise regular meetups and activities. All good co-working space regularly hosts various kinds of events. They connect you with the right audience. Bangalore has the best eco-system for startups. Birds of feather flock together. Therefore, all real co-working spaces attract a good number of investors from meetups and events.
4. Right Guidance & Mentorship
Choose a place where you can get the right guidance and mentorship. Research on the industry experts who often visit there. Talk to the existing or past members. They will give you the exact picture. Remember a good mentorship and right guidance is what you need during your initial journey. Choose a co-working place which has the right connect with industry experts.
5. Locality & Commutation Time
Areas like Jayanagar, HSR Layout, Koromangla and Indiranagar have become a hub for a good number of startups. These areas have become highly crowded with many startups and established brands having their offices. Working in these locations is great from the business point of view. However, also make sure that you don’t choose a place which eats up most of your time in commutation. Must remember that the road traffic in Bangalore is worst in India.
It is always advisable to experience few days in the co-working space before actually committing to monthly or yearly plans. You will rightly judge in this situation whether the culture is right for you and your team or not.
StartupHuts in HSR Layout provides a co-working space with a perfect ecosystem for a startup. It has been founded by a group of IIM & IIT alumni, with the sole mission of “Incubate, Collaborate and Scale”.