The Indian Wire » Startups » Startup Incuspaze and SIDBI to set up co-working space in Delhi together

Startup Incuspaze and SIDBI to set up co-working space in Delhi together

Incuspaze, a co-working space startup, based out of Gurugram, is all set to collaborate with Small Industries Development Bank of India (SIDBI). The aim behind this collaboration is to set up a premium co-working space in Connaught Place, New Delhi.

This co-working 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, Incuspaze 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.

“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,” Mohammad Mustafa, chairman and managing director of SIDBI said.

At present, the collaboration project is in its development stage and the company hopes to inaugurate it in the next two months.

Incuspaze was established by Sanjay Chaudhary in 2017. The company is currently present across key Tier I and Tier II cities in India. It aims to develop a network of co-working spaces across 30 Indian and eight international locations by 2022.

While, SIDBI, founded in 1990, has supported domestic industry, small units and medium enterprises through various credit and developmental measures.

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.”

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.

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