Mafias of Coworking Part 3 – The Innov8 Coworking Story with Ritesh Malik

Innov8 is not just a workspace but a lifestyle brand for people who think differently.

As you all might know, we are bringing to you the intriguing stories about the of Coworking Spaces that created or changed the landmark of Coworking Industry in India. We have already covered the first two coworking space chains that opened in India – 91Springboard and BHIVE Coworking. This week, we are sharing the journey of Dr. Ritesh Malik, the 26 year old founder of Innov8 Coworking who has also landed his candidature in the highly coveted Y Combinator Startup Accelerator Program. We interviewed Ritesh Malik and here are the excerpts of the Innov8 Coworking Story:

 

Us: Why Did you start a Coworking Space?

Ritesh: Office space is a hassle when it comes to India. People face tedious troubles while managing the rental space, the land lord, the infrastructure etc. We want them to leave this hassle and just focus on their product. Till now coworking spaces were just a rental chair & desk. We are India’s first coworking centre with character, with knowledge dispersion, with massive mentorship and obviously amazing infrastructure & location.
Since 2012, startup culture has been a topic of interest for all the sections of the society. We at Innov8, want to influence the Entrepreneurial ecosystem in the country by providing a platform for ideating, motivating & collaborating startups pan India. To build the most amazing mutually dependant community in India.
We’re a working space for disruptors, people who’re there to challenge the status quo. We create a strong knit ecosystem which acts as a self-help group and a productive environment to help you achieve more through collaboration & idea pollination.
We want to make India a product nation and the only way to do that is to produce innovative platform from the national soil.

Us: How was the journey of creating a central ecosystem of startups at your Coworking space?

Ritesh: It has been a journey with vision and execution. It’s a mission very close to our heart. We believe we can significantly impact work communities all over India.
We do not end only on startups. We help any individual lead an entrepreneur’s life irrespective whether he’s an entrepreneur or not. Innov8 is not just a workspace but a lifestyle brand for people who think different.
When it comes to startups, we welcome any & everyone to be a part of this mission. This helps us create an intra-campus network pool of skills, ideas & productive environments.

 

Us: What are the biggest struggles that you faced while creating this space and community?

Ritesh: We don’t want to term it as struggles; only problems to be solve through collaborative efforts, design and technology.
Apart from creating platforms from the most suitable locations, we are striving to make work more productive and happier. We are aiming to create more and more values to our ecosystem.

Us: What was the first reaction of people outside of India when you shared your coworking space experience with them? Did they appreciate it?

Ritesh: Coworking and collaboration (sharing economy) is the need of the hour worldwide. The concept is not new globally and the world wants to know how we are catering to the Indian market and ecosystem.
Indian market is a different ball game all together. You have to understand culture, psych of your customers and the real estate market. Our understanding and knowledge of Indian business and startups ecosystem is what interests them the most.
The world wants to know how we are integrating local insights in every centre and products that we offer.

 

Us: How are things changing in the coworking industry and what do you foresee for the next 5 years?

Ritesh: Same as any growing and maturing market, coworking Industry will gain momentum and the market will accept coworking as the first choice went it comes to offices and workspace. There will be many coworking spaces for different sizes and price points catering to various segments of office needs.
Coworking is the new sub sector of the real estate market and direct threat to any traditional office sector. Coworking spaces has the potential to disrupt the traditional real estate market.
More than ever, workforce/ office goers will embrace global and collaborative mind-set to work and approach problems.

Coworking spaces have the potential to disrupt the traditional real estate market.

As you could understand from the Innov8 Coworking story, it has always been all about the vision and execution according to Ritesh Malik. It also reflects that the Coworking industry leaders are very positive about the future of coworking in India. What do you all think?

 

 

 

Rutavi Bhatia

Author at Coworking India Magazine. I love writing about entrepreneurship, innovation and technology.

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