Ritesh Malik, founder and CEO of coworking startup Innov8, has been submerged in the entrepreneurial world for a while. Through his experiences, he notes the infrastructure challenges many coworking spaces face in today’s market.
“We spend more than half of our day in offices and most Indian working professionals dreadfully drift from Mondays through Fridays for the sake of weekends. Work isn’t a very positive word in the life of most of us. A big factor behind that is that the office spaces aren’t innovative, welcoming and comfortable,” Malik said. “At Innov8, we thought of changing this! We started with a philosophy of creating the most beautifully designed, primely located, community-oriented and technologically driven shared workspaces for new-age millennials, entrepreneurs and professionals of the country.”
Taking this methodology and over 190 companies, Innov8 has expanded into 13 different campuses over the past two and a half years and aims to open 10 more centers by the end of the financial year.
Malik says the coworking space operator started off as a small group of entrepreneurs in Connaught Place, New Delhi and has blossomed into a community consisting of companies of all sizes including VICE media and Nokia.
At the end of 2015, Innov8 opened its first campus in Delhi and opened a larger space in Chandigarh after reaching full occupancy in a matter of weeks.
Now, Innov8 has plans to grow from 4,000 seats to 10,000 by 2019 thanks to partnerships with companies such as Piramal Realty, Carnoustie Resorts, Walford Group, and more. Malik hopes to grow at an economical pace “ to create return on equity for our investors and stakeholders.”