GoWork, a co-working space provider, based out of Gurugram, will launch an acceleration cum incubation programme GoConnect. The programme is designed exclusively for startups across several sectors. It will be launched in September, cited ET.
“We want to go deep into the startup ecosystem and build an incubator which can take our vision forward. Eventually we want to float it as a separate holding company,” Sudeep Singh, CEO of GoWork India, said.
Singh further added by saying that the idea is to build a robust community in India which no other country has done so far.
GoWork, a coworking space provider startup, was founded by Nimit Mahajan, Sanjeev Mahajan and Sudeep Singh in 2017. GoWork is among the largest co-working ecosystem in the world that aims to craft a collaborative work space globally to help entrepreneurs, investors, accelerators, among others.
GoWork currently has two working spaces in Gurugram, both in Udyog Vihar Phase 2, with a combined capacity of 12,000 seats spread across 8 lakh square feet. It provides a comprehensive working environment with all the necessary amenities for its customers.
GoConnect will also provide necessary financial aid to startups for its growth path.
Key aspects such as the team behind the startup, the innovative quotient and startups with a sales acceleration focus will be the basic parameters to zero in on the selected startups.
These will also be companies which have passed the first round of funding and have a product fitment which is relevant for India.
Presently 173 startups have applied so far, of which 25 will be shortlisted for the first batch. There will be three such batches with duration of 6-8 weeks each that will be spread out over the course of one year.
The programme, which will see a mix of international and domestic companies, will first connect startups with corporates to sell their solutions and once the startup has scaled to a certain level, GoConnect will make them investment ready and help them network further with VCs to raise funds.
Startups will need to incur a one-time enrollment fee of Rs 50,000 for the programme and the seats occupied by them at GoWork during the programme will be subsidised at Rs 6,000 per seat.
“91% of the Unicorns of India are Singapore-based companies. So basically we, as a startup nation, are contributing to some other country’s GDP. The regulations here need to be more startup friendly so that it can incentivise companies to be listed in India,” Singh added.