An overview of the India coworking market’s drivers in 2016

In 2016, this 91springboard presentation examined the conditions shaping coworking in India and described the operator’s early experience of building and scaling spaces there. It characterised India as a large, young and lower-income market in which coworking depended mainly on local members rather than transient users or tourists. The slides linked low labour costs to larger teams, cited rapid population and economic growth, and presented the expansion of India’s technology startup ecosystem as a source of workspace demand. They also discussed operational constraints, including difficulty finding capable information technology, audiovisual and ecommerce logistics vendors, alongside concerns about punctuality, service agreements and professional standards. Lower operating costs were presented as a countervailing advantage. The deck then outlined how 91springboard had developed its model through trial and error by testing services, infrastructure and pricing, documenting processes, using technology and learning to recruit while preserving its culture. It also stressed the importance of a durable economic model and early financial backing. At the time of the presentation, 91springboard reported nine locations across seven named Indian cities, serving more than 600 companies and 1,600 coworkers and hosting over 40 events per month.

Key findings

• The deck described India as a market of 1.25 billion people, about 70% larger than Europe, with GDP per capita of roughly $1,800 and annual growth above 6%.
• A cited comparison placed India third with 4,200–4,400 technology-driven product startups, behind the United States and United Kingdom.
• 91springboard reported 9 locations, more than 600 companies, over 1,600 coworkers and more than 40 events per month.

Presented at Coworking Europe 2016