India’s top coworking operators have come together to form an association called the Indian Workspace Association (IWA) to help with financial challenges they are facing due to coronavirus lockdowns.
The coworking industry is facing a liquidity crisis as clients are staying at home and cancelling their leases. The association hopes to represent the interests of the sector, while also defining specific protocols and guidelines for the industry in relation to the coronavirus.
“Like most industries, the coworking industry has also been considerably impacted by the COVID 19 pandemic,” said Pranay Gupta, cofounder of 91Springboard. “Thus, we felt the need to create an association to synergise our efforts to help us present our unified position in front of our partners, industry stakeholders, as well as the government.”
Currently, there are over 40 operators that are a part of the IWA, including WeWork India, Vorqspace, BHIVE and more.