As it hosts the likes of Alibaba and Digital Ocean in India, CoWrks itself is set to travel to Europe and Southeast Asia to soak in the thriving entrepreneurial spirit in these markets.
While CoWrks is increasing the seating capacity at its centre at RMZ Infinity in Bengaluru, its centres in Chennai, Gurugram and Mumbai are due for launch by August, and plans for Hyderabad and Pune are underway.
CoWrks CEO Sidharth Menda said, “Our target right now is to have CoWrks coworking spaces in 150 locations by 2020. Apart from a pan-India expansion, we are looking at entering some entrepreneurial hubs in Europe and Southeast-Asia, and we have already started work on that. We are looking to launch one by mid-next year.”
Menda said, “The culture of social networking has permeated into the physical world of business. The cubicle culture has phased out to make way for an environment of collaboration. We are already witnessing a good 40-50% of CoWrks’ members doing business with each other.”
The company is looking to achieve a run rate of Rs 220 crore by December 2017, by when it is confident of having 10,000 members on board in India. The company believes in finding the right fit, when it comes to its members as well as its partners and associates.
“When working in a coworking space, it’s imperative that members are in an environment that gets their creative juices flowing, and find co-workers, who further boost a sense of innovation and initiative,” he said, adding, “With startups and digital agenda taking centre stage, we are all a part of a larger movement beacuse of which it becomes important to nurture a sense of collective action and creativity.”
Across its centres, CoWrks hosts a good mix of large enterprises (40%), and small enterprises, startups and freelancers (60%).