Shared office spaces and incubators have become quite popular lately. With new business ideas and startups growing at a fast pace in cities like Mumbai, people have started availing for comfortable yet economic working spaces where they can let their creative juices flow.
Coming to the concepts of shared office space and incubators, even though many people think that they are both the same but that is not the case.
Shared spaces have garnered quite some demand of late. These are mostly sought after up by start-ups, small business houses and freelancers who want a formal working environment at an economic budget. Such spaces also give them the opportunity to work with others and interact with their ideas.
Incubators, on the other hand, are designed for professionals who aim in building high growth companies.
But that is not all – let us take a deeper look at how shared offices and incubators in Mumbai differ.
What is the difference?
Let us pick the various parameters and understand them.
1. Cost – You would be able to rent coworking office space in an hourly, monthly and yearly basis depending on your requirements. You would get all the facilities like Wi-Fi, cafeteria etc. when you rent coworking space. However, in the case of incubators, you would not have to pay rent but a percentage of your company’s equity.
2. Time – Coworking spaces are ideal for startup office as you as the idea there is to create a healthy working environment where different professionals come together to work. Here you would need to commit only to yourself and your work. Incubators, on the other hand, expect good results from you within a few months due to the funds and efforts that they have invested in them.
3. Financing – You would not get any financing establishing your business in a co-working space. However, incubators do fund startups that are selected for their program.
4. Networking – Coworking offices bring together like-minded professionals who can work in a comfortable environment. Whereas incubators work towards connecting similar start-ups.
5. Professionalism – In shared spaces, you can work together with other professionals creating a healthy work environment. But they might not be able to help you with any queries related to your business. Incubators, on the other hand, have well-trained staff who knows exactly the way start-ups work.
Depending on your requirements, you can choose between co-working spaces and incubators. If you are only looking for office space rental then shared spaces will be perfect, whereas if you need some funding and guidance too, then incubators will be the right pick for you.
At WorkLoft you can get the ideal workspace that meets all your requirements to the T. WorkLoft has the best offices across different locations in Mumbai and ensure that you can work comfortably while all other things and overheads are taken care of by dedicated teams. You can choose from the different renting periods and payment plans of shared office space that you find suitable for your business and also your pocket.