EXCLUSIVE: Garage Society to target both startups, MNCs in India, provide youngsters opportunity to build businesses

Constant growth and stability of the Indian economy have pushed hundreds of youngsters to turn entrepreneurs and set up a business. Ample support and favourable policies of the government are making India a new hub of next-gen startups. This is the reason why co-working space providers are now shifting towards the Indian market. Among them, is the Hong Kong based co-working space operator - Garage Society which recently opened its first co-working facility in Gurugram, Delhi NCR. Elaine Tsung, Founder, and CEO, Garage Society believes that Garage Society is lucky to have opted for India and aims to target everyone from new startups to large MNCs.

"We are lucky that we opted India for expansion, everyone knows how big the Indian market is. India is not only a highly potential nation, but it is also a young country with good people. The new policies and the supportive government have made things easier for foreign businesses. We are really excited to work here and will target right from startups to giant MNCs out there," She said in an exclusive conversation with Zee Business Online. 

Founded by Elaine Tsung in 2014, Garage Society offers flexible workspace solutions and business support to the new generation workforce across Asia, including events, hiring, internships, and investment opportunities. With an international footprint in Hong Kong, Thailand, Cambodia and Philippines, the company has now started its operations in India.

Founder and Ceo, Elaine Tsung and Country Head, India, Prashant Garg- (LinkedIn)

The space is located in Cyber City, the heart of Gurugram. It is spread over 19,000 sq. ft. with a seating capacity of nearly 300 people. The hub has been crafted to foster modern corporates, startups, and freelancers. Garage Society provides a complete structure for co-working businesses, offering administrative assistance, concierge, recruitment support, community building activities, exclusive events & workshops, etc. in order to ensure that all business needs are fulfilled. 

Tsung said that co-working spaces not only help in job generation but also provides a space for youngsters to build their own business. 

"Co-working can be highly impactful in creating jobs as in the past 10-20 years, we have seen a tremendous technological advancement. A shift towards IT and tech-based businesses has given immense opportunities for youngsters to get settled. The younger generation is more tech-savvy and intellectually rich to run these companies and co-working will help them achieve it. Not only jobs but co-working culture also provides youngsters an opportunity and space to build their own businesses," he said.

One of the co-working office spaces at Garage Society, Gurugram:

But, this doesn't mean that conventional offices will shut down. 

Prashant Garg, Country Manager, India, Garage Society told Zee Business Online, "Conventional offices have their own pros and cons, even though co-working culture will post growth in future, traditional offices will going to stay. Office spaces will always have a major pie in the commercial real estate sector."  

View of a common corridor at the office:

Co-working industry is likely to have 13.5 million users by 2020, about half of which will be coming from enterprises that are expected to acquire 10.3 million seats, said a research report by realty advisory company JLL. Moreover, over 1.5 million users are likely to come from freelance and SME community even as startups may seek up to 1 lakh seats by the year 2020. 

Also, demand for around 8.5 million seats is expected to come from tier-2 and 3 cities.