Eccosphere
Gautam Duggal, co-founder and CEO of Eccosphere, states how coworking players are bridging a gap in increasingly chaotic urban sectors, where quality office space is either prohibitively expensive or, in some regions, absent
What are the trends in the coworking sector in India?
Estimated demand for 12 million office seats across India is met by coworking spaces. This is a huge number and shows how many young Indian professionals prefer working in coworking spaces. Over the next few years, the demand will grow and much of it will come from SMEs looking for plush offices. Surprisingly, the demand from startups is low today, while enterprises are the largest occupiers of coworking spaces. It’s also important to note that the popularity of coworking spaces is greatest in large Indian metro cities. Meanwhile, in small cities, the need for coworking spaces is nearly absent. However, some fast-growing companies are opening offices in smaller Indian towns to cut costs. Delving into specifics, Delhi NCR and Mumbai have the largest number of coworking seats in India, followed by Bengaluru, Kolkata, Hyderabad, Pune and Chennai. This year, our industry will add at least a million more coworking seats in the country.
Tell us about the new technologies integrated by Eccosphere…
We use the Cisco Meraki enterprise network, which is the most advanced in the world. Also, we’re the only coworking space in Delhi NCR that allows users to download speeds of 1 gbps; no other coworking space even comes close. We’ve also used technology and aesthetics to create a calm and serene ambience.
What are the shifting trends in occupants?
Startups aren’t using coworking spaces as much as earlier. The main reason quite simply is because fewer startups are coming into being. Plus, startups usually have a high employee churn rate, which creates uncertainty when renting a coworking space. Larger companies, of course, see many benefits in renting coworking spaces, including lower costs and proximity to clients. Many traditional companies also know that coworking spaces abound with energy and want younger team members to work in such an environment. Another reason large companies choose to put teams in a coworking space is they want the collaborative culture found in coworking spaces to be imbibed by employees.
What challenges does the sector currently face?
While the sector is poised for further growth, some challenges faced by those who manage coworking spaces include selecting the right tenants to lease out the spaces. Being able to judge people correctly before inviting them to use coworking spaces can be a challenge.
