Why Coworking spaces best suited for the Tech Industry?

Coworking is no longer a trend; it is a way of working – we know that already!

Over the past couple of years, several leading companies in the fields of technology and telecommunications have moved their offices to specially created coworking spaces to gain access to innovators, human capital, networking, etc. with reduced rental costs and property management.

Some of the world’s largest companies are settled in coworking spaces in search of new ideas, talented people, objects of acquisition, as well as flexible conditions for renting and managing office space.

Why do tech companies opt for a coworking space?

To improve the exchange of ideas and support innovation, giants like IBM, Verizon, Microsoft are testing work in coworking space with a large number of resident-innovative start-ups. If you have a small high-tech company and you need to be noticed, you can’t think of a better place for networking than a coworking space

The desire of growing technology corporations to develop new formats for the placement of employees is also associated with the need to be closer to key partners, as well as the desire to develop new markets.

Entering an unfamiliar market, even for a large company, begins with the formation of a small team. As a rule, it is difficult to predict in advance the rate of growth in the new market, so it is much more profitable to place employees in co-working than to bind yourself with 5-10 year rental obligations. In case of success and expansion of the team, coworking space in Mumbai will provide additional seats, but if the project is waiting for failure, it is easy to leave co-working.

Best of both worlds

A co-working space miraculously combines some of the comforts of home with all the practicality of a work environment. In doing so, it is free of the distractions and clamor of home and office, as well as the browbeating glare of higher-ups, but not without the professional and solitary workspace you so crave for creative and strategic thinking and planning.

Co-working was initially adopted by freelancers and small teams (not bigger than 2-5 members). The trends are changing, coworking space is the future, and big teams in big businesses want a piece of it due to the following major advantages

• Ease of infrastructure set up and day-to-day operations
• Work can start from day 1
• Economies of Scale
• Flexibility and scalability
• Networking and Chance to meet investors
• Easy to attract talent are among a few

Why are the big tech companies jumping onto the bandwagon?

The appeal for tech companies and their employees is clear: the vibe is cool, working alongside energetic startups and techies.

The biggest advantage comes with the fact that you are able to build relationships with startups. Startups always look up to the big names for advice (if free, even better!) and By working cheek by jowl with startups, large businesses hope to be better equipped to spot emerging trends and identify future business opportunities they can cash upon.

Clearly a win-win for all involved!