SIDBI joins hand with Incuspaze to push co-working chain in India

Coverage by Zee Business

n a bid to support entrepreneurship by providing Micro and Small Enterprises (MSEs) and startups a well-equipped and well-managed space to meet their office requirements, Small Industries Development Bank of India (SIDBI) announced its collaboration with Incuspaze — a chain of premium co-working spaces. Their first project is based in Connaught Place, New Delhi. The terms of the co-branding agreement would involve Incuspaze’s expert team to develop, maintain and operate a co-working space that would offer subsidized office space to MSE’s and SIDBI would provide the overall support for these start-ups to grow wherever possible.

Commenting on the collaboration Mohammad Mustafa, Chairman and Managing Director SIDBI said, “In our journey to promote MSE’s and startups, we believe this collaboration would mark the next step in elevating and strengthening this ecosystem. Incuspaze has been receiving a good response in the country because of the quality of services and amenities that it offers to its members and thus we decided to work with them. We strongly believe that through this project we would collectively be able to make a difference in the growth trajectory of MSE’s and support their vision.”

Commenting on the development Sanjay Choudhary, Founder & CEO of Incuspaze said, “We are extremely excited about this partnership with SIDBI. The MSME sector makes a substantial contribution to the growth of the country and we believe that through this partnership we would be able to ease some of the pressure on them by providing them with a well-managed space and lot of multifold benefits focused towards startups.  Keeping SIDBI’s ethos in mind, our aim is to facilitate a hassle-free Coworking environment for MSE’s where any small or medium business owner will get the opportunity to have their space to work, connect with network resources that would prove to be helpful in growing their business. The project is currently in its development stage and we are looking at inaugurating it in the next two month.”

This vibrant co-working space residing in the heart of Delhi would offer all the service partners, assistance from SIDBI for awareness about its initiative that would help start-ups gain multifold benefits like video conferencing facility to its MSE and start-up members. SIDBI would also be devising a suitable MSE Accelerator program which will fuel the growth of companies operating from this co-working space.

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