WeWork, the co-working space company, has introduced WeWork Labs in India, an initiative that, apart from the space and facilities that the company usually provides, will also create an ideation hub for customised programmes to young startups, with the aim of aiding them to collaborate with incubators, accelerators, and bigger enterprises.
Roee Adler, SVP, Global Head of WeWork Labs officially launched the initiative in Bengaluru. The Indian Labs will feature weekly community events, selective discounts on business and lifestyle services, and a global network with chances of obtaining clients and investors.
The initiative also includes an advisory board, comprising industry leaders of the likes of Harsha Kumar, Lightspeed Ventures, Raghunadan G, TaxiForSure.com, Rahul Khanna, Trifecta Capital, Rohit Bhat, Airavat Capital, Sanjay Nath, Blume Ventures, Shailani Prakash 500 Startups, and Shradha Sharma, YourStory, amongst others.
Launched in 2010, WeWork has a strong presence all over the world including countries like the US, Canada, China, Singapore, Israel, Korea, and Brazil. The first Lab to be opened in India was in Gurugram at a price of INR 17,000 per person per month. To avail its facilities, startups can collaborate with a Lab on a for-pay basis, working with them for whatever time they require. The Gurugram Lab is already in collaboration with more than 8 startups.
WeWork is a US-based company that provides shared workspaces for technology startup subculture communities, and services for entrepreneurs, freelancers, startups, small businesses, as well as large enterprises. It was founded in 2010 and is headquartered in New York City. As of July 2017, WeWork counted its valuation at around USD 20 billion and managed 10,000,000 square feet (930,000 m2) of office space.
With more than 5,000 employees in over 280 locations, the company extends across 77 cities in 23 countries, which include Australia, Argentina, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Ireland, India, Israel, Japan, Mexico, Netherlands, Peru, Singapore, South Korea, Spain and the United Kingdom.
WeWork Labs plays the role of a startup incubator within WeWork. It offers an open workspace with the aim of boosting partnerships among members who still have to work out their business ideas. With this launch, WeWork Labs joins the Indian shared space ecosystem, where players like SAP Labs, CoWrks, Awfis, and Innov8 are already competing.