A growing number of coworking spaces in Tier-II cities have boosted the startup ecosystem in India as they have proven to be a perfect solution for small business owners.
Before a decade ago, coworking spaces were virtually non-existent. The idea of a shared open space being occupied by professionals was a concept that was foreign to many. With the ecosystem evolving, along with the needs of people, today, coworking spaces are becoming essential for emerging entrepreneurs and startups. While metropolitan cities are witnessing exponential growth in coworking real estate, the Tier-II and III cities are embarking on this journey too. The availability of talent, local investor confidence and infrastructure support have in turn supported emerging entrepreneurs and startup communities, mushrooming in these cities. Coworking companies are set to boom in Tier-II sectors, with cities like Ahmedabad, Indore, Jaipur, Pune already gaining popularity. This has also created a platform for remote employment and collaborative working culture in Tier-II and III cities.
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According to a report by NASSCOM, India’s startup ecosystem has the potential to create up to 12.5 lakh direct jobs by 2025, from 3.9-4.3 lakh direct jobs in 2019. India’s talent base is increasing beyond large cities as fresh graduates are choosing to stay back in non-metros. Relocation of talent to metro cities in search of opportunities and career growth has been a trend of the past decade. Today the growing coworking culture and startup community has slowed down the process of talent drain to metros and has created a smart talent pool in smaller cities.
Source: Financial Express
