IndiQube Believes Flexible Workspaces Will Redefine the Future
Indiqube gives you a productivity ready space. The space where you have control through smart cards, Business telephone system EPABX, high-speed internet connectivity, UPS and Power Back-up as well as partnered spaces. In Indiqube you have enough flexibility to use existing space smartly. The locations are on prestigious places and have great connectivity.
IndiQube's journey has been incredible so far, in a span of 28 months, it has built over 12 business communes in different stages of development, more then 80+ companies & over 4000 employees working out of our Offices. BWDisrupt spoke to Meghna Agarwal, Co-founder IndiQube to know more about her venture.
Excerpts from the conversation:
The Idea about the Venture
During our entrepreneurial journey, we realized that finding a good office is a big challenge. Real estate sector is a supply led market and fragmented. The available spaces comes with rigidity / no corporate branding / no corporate ambience with lack of spaces to collaborate and network.
We believe Global workforce/ Millennials will dominate the Asian workforce for next several years and there will be a sea change in how the workspaces will be perceived. Millennial friendly places based on : Collaboration ( Community Events ) / sophisticated interiors / user friendly online platform & Value Added services are the future.
What are the Unique key feature & services offered by Indiqube & how is it different from existing coworking space players in the market?
More than Co-working , we believe Flexible workspaces which includes both Co working and Dedicated office spaces is the future.
IndiQube is in the business of providing Flexible Office spaces ( Co working and Dedicated ) to start ups , freelancers , Entrepreneurs , SMEs, ODCs and emerging companies. It creates a right business environment for companies to thrive. Growth and Flexibility are the pillars of Indiqube which differentiates us from other players in market.
As part of the value proposition, IndiQube designs and delivers co-working / enclosed office spaces, builds and manages common amenities such as cafeteria, gym, reception desk and provides complete office services like maintenance, security, housekeeping, power back-up etc. Our technology driven Ecosystem of growth lets company concentrate on things that matter to their business, by providing well-crafted and professionally managed space infrastructure, Employee Facilities and Partnered spaces.
Our partnership with the start-ups nurtures when they grow. We help them seamlessly transit to their own dedicated office/space which reflects their brand etio’s
We have developed about 500,000 sft of office space across talent hotbeds in Bangalore and have over 80 clients like Bluestone, FreshMenu, LendingKart, Cloudnine, Redseer and Micromax to name a few.
What are the funding status of past & future, monetization model, traction details and future plans as a whole?
The initial capital has been brought in by the promoters only, We are looking to raise funds by end of 2017, The quantum of which is still under evaluation.
The Revenue Model
IndiQube custom designs the space as per customer requirements topped with VAS and growth options stitched together with our Miqube App. The revenue model is combination of “Rentals from the SME” and “Service Revenue on Usage-basis”.
Our expansion is and will be multi-dimensional. Steps been taken to increase our foot prints in Bangalore and other tier I and tier II cities. Also we would be introducing varied products to fit in each and every organization space needs helping them to become leaner and more efficient. We soon plan to enter in Mumbai, Hyderabad, Chennai, Pune and Delhi.
Challenges faced by Indiqube?
a. Non-real estate profile: We were perceived as ‘outsiders’ to this industry. We had huge challenges convincing landlords why they should deal with us. Getting the first developer was a challenge but after that we never looked back.
c. People: Finding the right kind of people who are equally passionate about the vision of Indiqube and believe in future is extremely challenging and fun
What is the current Market size & opportunities for Indiqube/coworking space sector?
We believe Flexible Workspaces (co- working / dedicated ) is the future. Bangalore is a start-up capital of India and we believe that the start-ups will redefine the way our nation grows.
With an estimated 15 million freelancers operating within the country, India is second only to the United States in regards to the amount of active independent workers worldwide, making it the perfect environment for a new Flexible Office spaces industry to blossom.
While Flexible workspaces was initially adopted by freelancers and small teams (not bigger than 2-5 members). The trends are changing, and big teams in big businesses want a piece of it.
Corporate employees are swapping suits for jeans and occupying desks at these flexible spaces. In tandem, co-working chains have emerged, offering slick operations.
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