Demand for flexible and collaborative spaces has surged paving the path for coworking startup Innov8 to plan an ambitious expansion plan. It aims to double its centers across India by 2025 and it is a strategic move that highlights commitment to meeting needs of modern professionals seeking a desk as well as dynamic environment.
Innov8 currently operates in more than 45 centers equipped with a capacity of about 17,000 seats across major cities like Delhi, Mumbai and Bengaluru. It is setting sights on bigger and more capable spaces. Founder Ritesh Malik said that the decision to expand is supported by a notable increase in inquiries and higher occupancy rates. The expansion will witness total seating capacity to more than 50,000 and this is a threefold increase in its operational capacity.
A report by private equity firm Avendus reveals the workspace market in India is projected to rise to 126 million square feet by 2028. It is a significant leap from 61 million square feet recorded in 2023. The growth indicates the trend of solopreneurs and even large enterprises are increasingly recognizing the benefits of coworking spaces to enhance collaboration, improve employee morale and flexibility to scale operations.
This is an era of work-life balance and employee well-being is increasingly prioritized. The initiative of Innov8 is about scaling up and also about redefining the productivity enhancement and community strengthening. Innov8 stands ready to play a pivotal role in shaping the future of work in India as India moves into an era of hybrid and flexible work arrangements.
