How Andhra Pradesh can create startup ecosystem?
To build a sustainable startup state, Andhra Pradesh needs to implement specific strategies that attract and retain talent.
- Enable a city-wide atmosphere of collaboration by building co-working spaces where entrepreneurs can network and grow together.
- Incentivize living and working for young people by providing budget rental places, free wifi, and regular cultural events.
- Welcome diversity through city-to-city collaboration, attracting individuals from domains like fintech, SaaS, and fashion technology.
Why co-working spaces?
Young entrepreneurs are on the lookout for spaces to work, live, and play. Coworking spaces fit the requirements of modern startups perfectly, especially in a developing capital like Amaravati where traditional office budgets are nearly impossible to manage.
- Low daily expenses for survival in a growing ecosystem.
- Working space available at a nominal price for long hours.
- Networking opportunities with like-minded people and access to mentors.
- Exposure to professional business and networking events.
- Availability of essentials: secured wifi, unlimited coffee, and 24/7 accessibility.
iSprout and the Future of Work in AP
In a situation where infrastructure is still being built, coworking spaces like iSprout provide not only a startup ecosystem but also help you set up your business quickly by providing legal and financial consultation.
Startups are increasingly opting to move from traditional setups to shared environments. According to a CBRE report, there are already hundreds of shared office operators in India offering coworking and incubator spaces. The diversified culture and exceptional support are why budding entrepreneurs can grow up to 5x faster in these hubs.
Final Thought
This is one of the major reasons for the increase in the number of coworking spaces and incubators in tier-1 and tier-2 cities. With rising real-estate prices, government innovation societies are shifting their interest to invest in shared spaces to quickly attract talent. Coworking space is definitely changing the future of work, and it"s time we adapt to this revolution.
