The past decade has been an era of the ‘gig economy’ – a term characterising an industry that’s brimming with freelancers, contractors, start-ups, part-timers, etc. With the resurgence of this sect, many are now witnessing the spurt of a new breed of workplace commonly known as co-working spaces. As explained in an article in The Atlantic’s story titled “As Coworking Spaces Scale, Can They Keep Their Communal Vibe?”, these communal workspaces began to come up in major US cities in the mid-2000s as higher percentage of the working class became self-employed due to the economic crises. The industry has only grown ever since.
Origins & collaborations
Pioneering this concept is New York-based WeWork, which rents office and desk spaces to teams and individuals. In a matter of just seven years, it has skyrocketed to the leading position in its industry with 170+ offices in 56 cities worldwide, and the company is unstoppable.
With India ranked as the third largest hub for start-ups in the world, there was a gapping need for organised infrastructure to aid its start-up growth. This led WeWork to launch its Indian arm in association with Bengaluru-based Embassy Group, with Karan Virwani at the helm.
Shedding light on the core idea behind venture, Virwani, the company’s director for Indian operations, says, “WeWork is on a mission to help create a world where people make a life, not just a living. The collaborative, inspiring and like-minded community attracts small companies striving to grow and large enterprises looking to innovate. The model is a solution that bends and flexes to accommodate company’s needs, regardless of size or infrastructure. If you come with a mind-set that is open to social engagement and the prospect of being part of a developing community – something bigger than any one individual – then you will significantly benefit from WeWork and our community.”
In a matter of just seven years, WeWork – ranked amongst the five most-valuable start-ups in the world – has skyrocketed to the leading position in its industry with 170+ offices in 56 cities worldwide.”
India is the fastest growing economy in the world with the youngest demographic, and given this, Virwani adds, “The sharing economy trend is gaining traction as more consumers, particularly urban millennials, are finding it convenient and cost-effective. WeWork’s aim is to support upcoming businesses, help foster innovation, provide space and services, and build a community that the new generation requires.”
Virwani points out that freelancers and start-ups deal with several issues while setting up offices in India. “In a traditional office space, business owners need to deal with landlords, contractors, brokers, security deposit, lock in period, etc, which is extremely time consuming and this process alone can take about six to eight months. SMEs are spending more time trying to figure the right environment or support in terms of logistics, infrastructure and technology, rather than focusing on their core business.” And this is exactly where WeWork has been able to cut its niche – by streamlining and simplifying this otherwise exhausting process.
WeWork launched its first co-working space in India in Bengaluru last year before opening its Mumbai operations. Next up is Delhi. In order to scale up, the company is constantly engaged in understanding the changing work culture and the direction of India’s start-up ecosystem.
The company’s partnership with the Embassy Group helped them bring in the best of two worlds. While, WeWork provided the brand, design, digital tools, member network and employee training, Embassy Group worked towards procuring real estate, local operational expertise and capital.
The design parameters
Being a young millennial company, experimentation runs in its veins. No two offices spaces of WeWork look alike, and each is engineered to cater to the local community and foster comfort and productivity as per their needs and functions.
“The workspaces are designed such that glass walls offer privacy and transparency at the same time and allow natural light to stream in. Common spaces have a distinct aesthetic and vibe, which inspires not just the team but also visitors. What sets us apart are the additional services that we provide beyond the physical state-of-art infrastructure. These include access to healthcare, payment processing, IT support, payroll and legal,” explains Virwani.
A rarity in the building and design industry, WeWork has a global interdisciplinary team of 400+ specialists that works cross functionally to take workplace and living design to a new level. At the same time, they are advancing, innovating and improving the execution of the design and building process. This enables the team to deliver faster and more efficiently than its contemporaries.
“We look at a building and space from the inside out — and focus on how we can design to foster community and collaboration. All the designers at a specific cluster of WeWork work towards a singular mission.
Each cluster has a well-defined mission that’s connected to a high-level business goal or customer problem. The team analyses them and then brings in the complete design element that’s aligned to the cluster community. Keeping the global aesthetics in mind, we work with various local artists to give an authentic, cultural look and feel blended with a local touch to our facilities,” elaborates Virwani.
Harnessing the reign of technology
Every facet of WeWork’s operations can be enhanced by smart technology. ‘Powered by We’ and the ‘WeOS’ are platforms that help optimise space usage and empower members to manage
WeWORK BKC, Mumbai
Its advantageous location offers members proximity to leading local and international companies across sectors as well as access to cafes, restaurants and bars. The membership includes amenities such as, Wi-Fi, pantries, community bars, phone booths, conference rooms, wellness rooms, open-air terraces, pet-friendly spaces, parking, and – exclusive to WeWork BKC – mini golf and an outdoor theatre.