Coverage by YourStory
Gurugram-based coworking space startup Incuspaze recently announced its collaboration with Small Industries Development Bank of India (SIDBI) to set up a premium coworking space in Connaught Place, New Delhi.
This coworking space will support micro and small enterprises (MSEs) and startups with a well-equipped and well-managed space to meet their office requirements and fulfil SIDBI’s vision to support entrepreneurs, the company said.
In a statement, SIDBI said it will also be devising an MSE Accelerator programme to fuel the growth of companies operating from the coworking space. Speaking on the collaboration, Mohammad Mustafa, Chairman and Managing Director of SIDBI said, “In our journey to promote MSEs and startups, we believe this collaboration would mark the next step in strengthening this ecosystem. We strongly believe that through this project, we will be able to make a difference in the growth trajectory of MSE’s and support their vision.”
At present, the collaboration project is in its development stage and the company hopes to inaugurate it in the next two months. Incuspaze’s expert team would develop, maintain, and operate a coworking space and SIDBI will provide the overall support for these startups to grow wherever possible, according to the terms of the co-branding agreement.
Founded in 1990, SIDBI has supported domestic industry, small units and medium enterprises through various credit and developmental measures. Speaking on the company’s partnership with SIDBI, Sanjay Choudhary, Founder and CEO of Incuspaze, said, “The MSME sector makes a substantial contribution to the growth of the country and we believe that through this partnership, we will be able to ease some of the pressure on them by providing them a well-managed space and multifold benefits.” Established in 2017, Incuspaze is currently present across key Tier I and Tier II cities in India. It aims to develop a network of coworking spaces across 30 Indian and eight international locations by 2022.