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Innovspace showed the movie “The Walk” on their TGIF movie time on 1st September. Not to mention it is a true story of Philippe Petit, the French high wire artist, it is a shadow story of any entrepreneur who sets out to achieve his dream.

A street performer could be the lowest forms of fame, income or respect in a fast-moving society. Don’t we know a bunch of corporate employees who are cribbing and whining about their lack of respect or income? Philippe is a testimony to how our outlook on life depends on one’s respect for self and for his dream. Our self respect depends on how live from within and not from without.

In real life Philippe took 6 years to perform this “artistic crime of the century” which he calls “le coup”. The dream started when the Twin towers were announced to be built and he accomplished it when it was getting completed.

With one leg on the tower and one on the wire, he is yet to shift his weight on the wire to start his dream walk. He tells himself, ‘once both my feet are on the wire, my life changes forever. It will never be the same again”. A start up can relate to this ‘one foot on the wire’ moment. How he or she contemplates and juggles between his decision. And at one gutful moment, they shift their weight, and then life is never the same again. Only a start up or an entrepreneur can understand that, it is actually an elevating experience to go financially broken, go miles and miles to get that first customer, to listen a thousand Nos, to be ridiculed by their own family as they compare their son to well settled self-cursing neighbour, and what more, their struggle to find that equally crazy life partner who might understand their craziness and be up for those daily thrills and adventures.

The Walk teaches a lot more than just bravery, dedication, perseverance and hard work. Sometimes, to a start up, it might take the 10th time of watching this movie to get another new lesson!

The post The Walk – a movie appeared first on Innovspace - Business Accelerator | Coworking Space.

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Just as the concept of Start-up is trending, Coworking space is also becoming increasingly common in India. While you are contemplating various things about starting up, we have tried to make it easier for you to decide on your office space. After all, that’s where you will be operating from. Here are 12 Reasons why should consider operating from a coworking space rather than a traditional office.

1. Minimal CAPEX

Before we talk about any other blah blah reasons, let’s look at the single most risky part of starting up. Capital Expenses! The moment we think of opening a venture, the first question that pops up is, how much do I need to open an office. Should I ‘spend’ on an office set up when there are much more meaningful ‘investments’ to make?

2. Reduced OPEX

Unlike CAPEX, Operational Expenses are inescapable. It pinches on your revenue month on a month. Your efforts to cut on the OPEX somehow sneaks in, to affect your work culture, ambience, performance and in the end your productivity. Frugality is the key for today’s start-ups. But does everyone have the mindset or patience to strategize on frugality?
Take a look at the comparison table we prepared with adequate research and enquiry, and decide for yourself on how efficiently frugality works for you

3. Controlled Operational Distractions

Considering your CAPEX & OPEX are the coworking space manager’s responsibility, you save yourself from small and silly distractions. Starting from “is there a shut down in our area” or “did I lock the main door before leaving” to “I need to pay those EB and phone bills before its disconnected”, in a coworking space, you don’t hear yourself saying any of these. Your focus is precious and it’s better respected in a coworking space

4. Collaborative Atmosphere

In a Traditional office, you see people of the same company continuously adding to too much familiarity or office politics, boredom or negativity. There is always a self-centred behavioral pattern among employees in a closed environment. But in a coworking space, by default people work with a giving and sharing attitude. The Synergy that can happen due to such collaborative atmosphere keeps the employees motivated.

5. Peer Group Motivation

More than the employees, the Founders need motivation and encouragement. Founders get to meet or witness peers operating next door, facing challenges, growth or sometimes slip falls. Each founder is heroic in their own way. One need not always give a speech to motivate others or see a standing ovation to get motivated. Mere observing works wonders

6. Minimum Administrative Hassle

If there’s any service that a start-up could utilize instead of directly involving in its hassles, then they should definitely consider it. Because the point is not whether you are capable of solving complicated situations! Point is, whether you can put your time wisely into what you should be doing, vis-a-vis what can be conveniently outsourced. Some coworking offices have tie ups with audit and legal consultants who are not just specialists in start up operations, but also facilitate such services on discounted rate.

7. Community Events & Get Togethers

Usually, Coworking offices provide space for start-up related events and it makes more sense too. Investors, VCs or other entrepreneurs might prefer holding their events in a coworking space to avoid lavish expenses. Community get-togethers are a great way to feel alive and happening!

8. In touch with the Ecosystem

Space Management companies usually take special efforts to keep the ecosystem connected by announcing all nearby events or sessions to its members. Moreover, the coworking company’s social media or blogging will always give priority to its members making your locality feel your presence without you making any extra effort. So, you’re not just in touch with the ecosystem but favorably vice-versa too

9. Zero delays in Kick Starting

The time gap between the day you decide to start your venture and the day you actually start can never be less than a week if you are planning a private office. However, if there is a good plug & play coworking space in your locality, then you kick start first and then think what next. It gets that convenient!

10. 24/7/365 Access & Job Control

Traditional Offices are not just under its land owner’s control but also under the building management. Main entry access is denied in many commercial buildings during public holidays and Sundays. Whereas, coworking space companies understand a start up’s seamless working pattern and customer demands. In any case, when you own your venture, who else can have the authority to decide your work hours

11. Free Brand Image

You’ll have to invest heavily in infrastructure if earning brand image by flashing extravagant office premises is relevant to your venture and your target customers. That’s an advantage with a full-fledged coworking space, it comes from VC equipped conference hall to cafeteria, from swanky reception to training rooms. Guess what, you create a corporate image at zero cost

12. Fun & Energy filled Vibes

After everything, what is still missing in a traditional office? Fun, Energy and positive vibes. For the mere fact that the coworking roof shades a community of heroic start-ups operating under one roof, and occasionally, someone outgrows the space to become successful, there is an ever-present positivism. The excitement that builds with participating in in-house events and peer bonding ensures you get your monthly dose of fun and laughs!

The post 12 reasons Why you should choose Coworking Space over Traditional Offices. appeared first on Innovspace - Business Accelerator | Coworking Space.

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For early stage startups, accelerators and incubators offer great ways to grow their businesses. The Accelerators are commonly mistaken with other institutions supporting early-stage startups, such as incubators, angel investors, and early-stage venture capitalists (1). So, who are Incubators then? Incubators “incubate” innovative ideas with the hope of deriving out a business model and the company, eventually. Accelerators are fixed-term, cohort-based, intensive and mentorship-driven, and they climax in a graduation popularly known as “demo day.” None of the other early-stage institutions; incubators, angel investors, or seed-stage venture capitalists — have all these elements. However, Accelerators may share with the above; the goal of cultivating early-stage startups, but they are different, with separate business models and incentive structures.

Startups enter accelerators for a fixed-term, as part of a cohort. As per HBR.org “The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months”. Accelerators focus is on small team, not on only the founder. They consider that single person is insufficient to handle all the work associated with a startup. In an accelerator program, the startups must “graduate” by a given deadline, typically after three months. During this time, they receive intensive exercise supported by mentoring and training, and they are expected to perform rapidly. Virtually, all accelerators end their programs, where the startups present to investors for funding.

With the Accelerators, the primary value to the entrepreneur is achieved from the mentoring, networks, and the recognition of being chosen to be a part of the accelerator. The process that startups go through in the accelerator can be separated into various phases: awareness, application, program, demo day, and post demo day. The business model of Accelerators is based on generating venture style returns, not rent, or fees for services.
Then comes the Pre-Accelerators such as Innovspace, a Business Accelerator in Coimbatore, a hybrid model of accelerator and incubator. The Pre-Accelerators do share the characteristics of both the Incubator and the Accelerator, typical duration of 3 months to 2 years for graduation. The below table compares the four types of institutions. Accelerators do not necessarily need to include a private or coworking space, but many do as we do at Innovspace.

Table Source HBR.org

Irrespective of the institution, some very basic needs for entrepreneurs and their teams were met by the coworking spaces when they first came on the scene. They provided an efficient and cost-saving option for those who could not afford to independently lease or purchase office space under typically long term contracts. These hive-like spaces were often bare bones and humble, but they did the job. They helped startups move out of garages and basements into real office spaces.

Like Innovspace, accelerators with coworking spaces provide professional corporate setup as compared to the bare bone hive-like spaces for their accelerated teams and other individual startups or freelancers with all the facilities and community benefits of the entrepreneurial ecosystem. For startups these things are very exciting.

At Innovspace, memberships can range from a small office space, either for individual or a team to virtual offices. The point of coworking spaces is to offer something more. These spaces ideally, are designed to foster communities. When done well, they are places that people want to work at, because of the amenities provided that are supportive and create a vibrant and social space. This means that as startups grow, their chosen coworking spaces can grow with them.

By choosing such community conscious coworking spaces, startups avail themselves of the benefits of Professional brand identity, great office infrastructure, amazing locations, growth potential, and the opportunity to network with other like-minded entrepreneurs. These cost-effective options will only continue to become more popular in the future.

To summarise, accelerators can have a significant positive effect on the performance of the startups they work with, compared with other comparative early-stage startups. By and large, accelerators are a positive addition to startup ecosystems across the country and the world. It’s a man-made perfect storm of mentorship, access to technology, office space and an innovative community, packed into a short time frame. Essentially, the function of an accelerator is to turn the art of starting a company into a program that can be repeated, frothing out valuable companies as if on an assembly line.

The post Incubators vs. Accelerators Vs Pre-Accelerators – A Comparative Review appeared first on Innovspace - Business Accelerator | Coworking Space.

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WHAT?

An individual or a business owns more than 9.99% equity of foreign company is termed to be Foreign Direct Investment.

WHEN?

A government establishes open economy for FDI to increase GDP welcoming foreign or global investors which maximises their ROI

WHY?

Increase total production capacity circumventing trade barriers shifing from domestic export to respective national sales

HOW?

Greenfield by setting up an enterprise in a foreign land or through brownfield by performing cross border mergers and acquisitions

BENEFITS THROUGH TAX INCENTIVES

Tax Incentives as deductions, exemptions, credits for individual investors and as tax exclusions, corporate income tax credit, property tax abatement, sales tax exemption, payroll tax refund for investing businesses

EASE OF SALES

Elimination of export to the host country and increase in the product or service usage by the host country citizens and promotional brand awareness among the local workforce, increases sales of investing business

HIGHER RETURN ON INVESTMENT

Lower manufacturing and production costs and availability of best labor force results in great profit for the investor and for the investing business

OPTIMUM BUSINESS PRODUCTIVITY

Presence of skilled workforce and resource availability in the target country increases production rate as well as quality of the product or service without any international constraints to run a sustainable business

REDUCTION IN COST DISPARITY

Production cost lessens and so the selling price is reduced accordingly, which enables the regional customers to buy ofen since the cost effectiveness and quality are higher than the local manufacturer

The post Amplify Revenue: Drive Income from FDI appeared first on Innovspace - Business Accelerator | Coworking Space.

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Innovspace showed the movie “The Walk” on their TGIF movie time on 1st September. Not to mention it is a true story of Philippe Petit, the French high wire artist, it is a shadow story of any entrepreneur who sets out to achieve his dream.

A street performer could be the lowest forms of fame, income or respect in a fast-moving society. Don’t we know a bunch of corporate employees who are cribbing and whining about their lack of respect or income? Philippe is a testimony to how our outlook on life depends on one’s respect for self and for his dream. Our self respect depends on how live from within and not from without.

In real life Philippe took 6 years to perform this “artistic crime of the century” which he calls “le coup”. The dream started when the Twin towers were announced to be built and he accomplished it when it was getting completed.

With one leg on the tower and one on the wire, he is yet to shift his weight on the wire to start his dream walk. He tells himself, ‘once both my feet are on the wire, my life changes forever. It will never be the same again”. A start up can relate to this ‘one foot on the wire’ moment. How he or she contemplates and juggles between his decision. And at one gutful moment, they shift their weight, and then life is never the same again. Only a start up or an entrepreneur can understand that, it is actually an elevating experience to go financially broken, go miles and miles to get that first customer, to listen a thousand Nos, to be ridiculed by their own family as they compare their son to well settled self-cursing neighbour, and what more, their struggle to find that equally crazy life partner who might understand their craziness and be up for those daily thrills and adventures.

The Walk teaches a lot more than just bravery, dedication, perseverance and hard work. Sometimes, to a start up, it might take the 10th time of watching this movie to get another new lesson!

The post The Walk – a movie appeared first on Innovspace - Business Accelerator | Coworking Space.

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Just as the concept of Start-up is trending, Coworking space is also becoming increasingly common in India. While you are contemplating various things about starting up, we have tried to make it easier for you to decide on your office space. After all, that’s where you will be operating from. Here are 12 Reasons why should consider operating from a coworking space rather than a traditional office.

1. Minimal CAPEX

Before we talk about any other blah blah reasons, let’s look at the single most risky part of starting up. Capital Expenses! The moment we think of opening a venture, the first question that pops up is, how much do I need to open an office. Should I ‘spend’ on an office set up when there are much more meaningful ‘investments’ to make?

2. Reduced OPEX

Unlike CAPEX, Operational Expenses are inescapable. It pinches on your revenue month on a month. Your efforts to cut on the OPEX somehow sneaks in, to affect your work culture, ambience, performance and in the end your productivity. Frugality is the key for today’s start-ups. But does everyone have the mindset or patience to strategize on frugality?
Take a look at the comparison table we prepared with adequate research and enquiry, and decide for yourself on how efficiently frugality works for you

3. Controlled Operational Distractions

Considering your CAPEX & OPEX are the coworking space manager’s responsibility, you save yourself from small and silly distractions. Starting from “is there a shut down in our area” or “did I lock the main door before leaving” to “I need to pay those EB and phone bills before its disconnected”, in a coworking space, you don’t hear yourself saying any of these. Your focus is precious and it’s better respected in a coworking space

4. Collaborative Atmosphere

In a Traditional office, you see people of the same company continuously adding to too much familiarity or office politics, boredom or negativity. There is always a self-centred behavioral pattern among employees in a closed environment. But in a coworking space, by default people work with a giving and sharing attitude. The Synergy that can happen due to such collaborative atmosphere keeps the employees motivated.

5. Peer Group Motivation

More than the employees, the Founders need motivation and encouragement. Founders get to meet or witness peers operating next door, facing challenges, growth or sometimes slip falls. Each founder is heroic in their own way. One need not always give a speech to motivate others or see a standing ovation to get motivated. Mere observing works wonders

6. Minimum Administrative Hassle

If there’s any service that a start-up could utilize instead of directly involving in its hassles, then they should definitely consider it. Because the point is not whether you are capable of solving complicated situations! Point is, whether you can put your time wisely into what you should be doing, vis-a-vis what can be conveniently outsourced. Some coworking offices have tie ups with audit and legal consultants who are not just specialists in start up operations, but also facilitate such services on discounted rate.

7. Community Events & Get Togethers

Usually, Coworking offices provide space for start-up related events and it makes more sense too. Investors, VCs or other entrepreneurs might prefer holding their events in a coworking space to avoid lavish expenses. Community get-togethers are a great way to feel alive and happening!

8. In touch with the Ecosystem

Space Management companies usually take special efforts to keep the ecosystem connected by announcing all nearby events or sessions to its members. Moreover, the coworking company’s social media or blogging will always give priority to its members making your locality feel your presence without you making any extra effort. So, you’re not just in touch with the ecosystem but favorably vice-versa too

9. Zero delays in Kick Starting

The time gap between the day you decide to start your venture and the day you actually start can never be less than a week if you are planning a private office. However, if there is a good plug & play coworking space in your locality, then you kick start first and then think what next. It gets that convenient!

10. 24/7/365 Access & Job Control

Traditional Offices are not just under its land owner’s control but also under the building management. Main entry access is denied in many commercial buildings during public holidays and Sundays. Whereas, coworking space companies understand a start up’s seamless working pattern and customer demands. In any case, when you own your venture, who else can have the authority to decide your work hours

11. Free Brand Image

You’ll have to invest heavily in infrastructure if earning brand image by flashing extravagant office premises is relevant to your venture and your target customers. That’s an advantage with a full-fledged coworking space, it comes from VC equipped conference hall to cafeteria, from swanky reception to training rooms. Guess what, you create a corporate image at zero cost

12. Fun & Energy filled Vibes

After everything, what is still missing in a traditional office? Fun, Energy and positive vibes. For the mere fact that the coworking roof shades a community of heroic start-ups operating under one roof, and occasionally, someone outgrows the space to become successful, there is an ever-present positivism. The excitement that builds with participating in in-house events and peer bonding ensures you get your monthly dose of fun and laughs!

The post 12 reasons Why you should choose Coworking Space over Traditional Offices. appeared first on Innovspace - Business Accelerator | Coworking Space.

Read Full Article
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For early stage startups, accelerators and incubators offer great ways to grow their businesses. The Accelerators are commonly mistaken with other institutions supporting early-stage startups, such as incubators, angel investors, and early-stage venture capitalists (1). So, who are Incubators then? Incubators “incubate” innovative ideas with the hope of deriving out a business model and the company, eventually. Accelerators are fixed-term, cohort-based, intensive and mentorship-driven, and they climax in a graduation popularly known as “demo day.” None of the other early-stage institutions; incubators, angel investors, or seed-stage venture capitalists — have all these elements. However, Accelerators may share with the above; the goal of cultivating early-stage startups, but they are different, with separate business models and incentive structures.

Startups enter accelerators for a fixed-term, as part of a cohort. As per HBR.org “The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months”. Accelerators focus is on small team, not on only the founder. They consider that single person is insufficient to handle all the work associated with a startup. In an accelerator program, the startups must “graduate” by a given deadline, typically after three months. During this time, they receive intensive exercise supported by mentoring and training, and they are expected to perform rapidly. Virtually, all accelerators end their programs, where the startups present to investors for funding.

With the Accelerators, the primary value to the entrepreneur is achieved from the mentoring, networks, and the recognition of being chosen to be a part of the accelerator. The process that startups go through in the accelerator can be separated into various phases: awareness, application, program, demo day, and post demo day. The business model of Accelerators is based on generating venture style returns, not rent, or fees for services.
Then comes the Pre-Accelerators such as Innovspace, a Business Accelerator in Coimbatore, a hybrid model of accelerator and incubator. The Pre-Accelerators do share the characteristics of both the Incubator and the Accelerator, typical duration of 3 months to 2 years for graduation. The below table compares the four types of institutions. Accelerators do not necessarily need to include a private or coworking space, but many do as we do at Innovspace.

Table Source HBR.org

Irrespective of the institution, some very basic needs for entrepreneurs and their teams were met by the coworking spaces when they first came on the scene. They provided an efficient and cost-saving option for those who could not afford to independently lease or purchase office space under typically long term contracts. These hive-like spaces were often bare bones and humble, but they did the job. They helped startups move out of garages and basements into real office spaces.

Like Innovspace, accelerators with coworking spaces provide professional corporate setup as compared to the bare bone hive-like spaces for their accelerated teams and other individual startups or freelancers with all the facilities and community benefits of the entrepreneurial ecosystem. For startups these things are very exciting.

At Innovspace, memberships can range from a small office space, either for individual or a team to virtual offices. The point of coworking spaces is to offer something more. These spaces ideally, are designed to foster communities. When done well, they are places that people want to work at, because of the amenities provided that are supportive and create a vibrant and social space. This means that as startups grow, their chosen coworking spaces can grow with them.

By choosing such community conscious coworking spaces, startups avail themselves of the benefits of Professional brand identity, great office infrastructure, amazing locations, growth potential, and the opportunity to network with other like-minded entrepreneurs. These cost-effective options will only continue to become more popular in the future.

To summarise, accelerators can have a significant positive effect on the performance of the startups they work with, compared with other comparative early-stage startups. By and large, accelerators are a positive addition to startup ecosystems across the country and the world. It’s a man-made perfect storm of mentorship, access to technology, office space and an innovative community, packed into a short time frame. Essentially, the function of an accelerator is to turn the art of starting a company into a program that can be repeated, frothing out valuable companies as if on an assembly line.

The post Incubators vs. Accelerators Vs Pre-Accelerators – A Comparative Review appeared first on Innovspace - Business Accelerator | Coworking Space.

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WHAT?

An individual or a business owns more than 9.99% equity of foreign company is termed to be Foreign Direct Investment.

WHEN?

A government establishes open economy for FDI to increase GDP welcoming foreign or global investors which maximises their ROI

WHY?

Increase total production capacity circumventing trade barriers shifing from domestic export to respective national sales

HOW?

Greenfield by setting up an enterprise in a foreign land or through brownfield by performing cross border mergers and acquisitions

BENEFITS THROUGH TAX INCENTIVES

Tax Incentives as deductions, exemptions, credits for individual investors and as tax exclusions, corporate income tax credit, property tax abatement, sales tax exemption, payroll tax refund for investing businesses

EASE OF SALES

Elimination of export to the host country and increase in the product or service usage by the host country citizens and promotional brand awareness among the local workforce, increases sales of investing business

HIGHER RETURN ON INVESTMENT

Lower manufacturing and production costs and availability of best labor force results in great profit for the investor and for the investing business

OPTIMUM BUSINESS PRODUCTIVITY

Presence of skilled workforce and resource availability in the target country increases production rate as well as quality of the product or service without any international constraints to run a sustainable business

REDUCTION IN COST DISPARITY

Production cost lessens and so the selling price is reduced accordingly, which enables the regional customers to buy ofen since the cost effectiveness and quality are higher than the local manufacturer

The post Amplify Revenue: Drive Income from FDI appeared first on Innovspace - Business Accelerator | Coworking Space.

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