Co-Working is a myth just like Gravity

Divya Sitlani
Divya Sitlani is the Client Relationship Manager at The Address. If you ever happen to visit The Address' Ahmedabad offices, do not miss to stop by and say Hi to her.

From the first ‘hackerspace’ or C-Base found in Berlin, to the ‘42 West 24’ that sprung up in New York City; from the first official co working space, ’9 to 5 group’ by Brad Neuberg to the first Hub that started at London’s Angel Station from which came over 40 co-working spaces, the idea and motion of co working is gaining popularity faster than one can even imagine.

Co- working is definitely not a new term. The first books which praised the power of co-working were published in as early as 1628. Yet they only admired the co-working power of God and its representatives. Who can say, maybe the idea of the concept emerged from it and changed over time into what it is today: a representation of working independently, but together. After all, most coworkers do work as their own God!

The Co-working industry is still in its nascent stage in the country, with several spaces emerging in the market. This can be easily seen in the fact that over 90% of India’s 300 shared workplace operators have started their first co-working space in the last 12 months! With 3–4 startups emerging every day over the past few quarters, India has become the third largest startup hub in the world, with a total employee base of over a million. In addition, India has a huge freelancer workforce (second in the world), and it is undoubtedly growing at a fast pace. Together these two factors present a potential demand for more than 3.5–4 million seats.

This may also be the reason why The Address is selling out its cabins and free desks like hot cakes on a winter morning, with more than 70% of the co working spaces being already occupied.

It also doesn’t come as a surprise that the co-working segment in India is expected to receive $400 million in investments by 2018, according to a recent study by JLL.

It’s a common ideology that when we break walls, we create breakthroughs in our business and that is proving to be accurate as more and more millennials are shifting to high-tech, easily manageable, hassle free co-working spaces, where they not only interact with their teams, but also get numerous opportunities to learn, discover and increase productivity.

Today, more and more entrepreneurs, freelancers, start-ups, artists, small businesses and large corporations are diving into the unprecedented world of co-working.

Very soon, co-working wouldn’t be just a word; it would be the way we work and the way of the world!

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