91springboard Business Hub Private Limited
| Private | |
| ISIN | 🆔 |
| Founded 📆 | 2012 |
| Founders 👔 | Varun Chawla, Anand Vemuri, Pranay Gupta, Deepak Sharma, Susan Lim, Anuj Pulstya |
| Headquarters 🏙️ | , , India |
Areas served 🗺️ | Delhi, Goa, Gurgaon, Mumbai, Navi Mumbai, Noida, Pune, Bengaluru, and Hyderabad. |
| Services | Co-Working Spaces[1] |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
91springboard is an Indian company that offers shared offices to individuals and organisations on a membership basis. Founded in 2012 in Delhi[2], it is one of the earliest co-working spaces originating from India[3][4][5]. In 2017, 91springboard shifted its headquarters to Panaji in Goa.[6]
In the shared/leased office sector of commercial real estate, 91springboard competes with organisations such as WeWork India, GoWork, Innov8, Bhive, Cowrks, Awfis, Smartworks, etc.[7][8]
History[edit]
91springboard originally planned to launch as a business incubator or a startup studio but due to funding challenges[9], they opened their first facility as a co-working office in January 2013 in Mohan Estate area of New Delhi. 91springboard has been covered in news programs such as NDTV[10], and BBC[11]. It was also covered by Forbes India in 2019[12].
In order to add value to its members and to stand out from other players in the leased office market, 91springboard organises several publicised events, such as comedy nights[13], Hackathons[14], etc. It also partners with other organisations to provide benefits to 91springboard members, termed Boosters[15][16]
In 2016, 91springboard was recognized under Startup India initiative by the Government of India as an incubator with the responsibility to recommend startups for the Startup India initiative[17]. 91springboard co-hosted the Defence India Startup Challenge 2018 for the Ministry of Defence, Government of India[18]. In the same year, HDFC Bank partnered with the United Kingdom’s Department for International Trade (UK DIT) and start-up accelerators 91SpringBoard and IvyCamp to launch an Accelerator Engagement Programme (AEP) in India[19].
In 2018, Google partnered with 91springboard to launch a Google for Entrepreneurs Lounge in 91springboard Jhandewalan location, in Delhi, to support women entrepreneurs in Tier-II cities of India[20][21].
Funding and Notable Investments[edit]
Currently, 91springboard offers its spaces in 9 cities across India through its 27 office spaces.[22] It also had a space operating in Noida Sector 125, which was closed in 2017.[23] Since its incorporation, 91springboard has raised funds from FreakOut Holdings[24], Shinsei Corporate Investment Limited, NeoStencil, and Khattar Holdings, Anthill, 33 Investments, NITI Aayog, Sandway Investment Ltd, Pearl Brook Holdings, AMA Holdings, Silo Holdings, Al Nour etc.[25] It raised ₹450 Million in funding from existing investors in June 2020.[26]
91springboard is also an investor in organisations such as Squad[27], AlmaConnect[28], among others[29].
2020 and beyond[edit]
Due to the emerging COVID-19 situation, startups, including co-working providers were affected and employed several tactics, including unpaid leaves, layoffs, waiver of rent, etc. to remain afloat[30]. With recovering demand for co-working spaces, especially from larger firms, the industry is poised to recover as effects of COVID-19 subside[31].
In July 2020, 91springboard partnered with University of Arizona to offer virtual learning to Indian students and professionals at 91springboard locations[32]. In March 2021, 91springboard partnered with EU-India Innovation Centre to improve collaboration among startups in India and the EU[33].
See also[edit]
References[edit]
- ↑ "The Top 60 Startup Coworking Spaces In India". 12 October 2016. Retrieved 5 October 2018.
- ↑ "The 91springboard Story - 3 Friends, Beer, And A Failed Fund". Inc42 Media. 1 November 2016.
- ↑ "New incubator in town 91SpringBoard to invest in 10-15 startups a year". Techcircle. 19 March 2013.
- ↑ Sushma UN, qz com. "PayPal, a pioneer that introduced digital payments to the world, now wants to ride India's boom". Scroll.in.
- ↑ Goyal, Malini; Layak, Suman. "Coworking: India's trendiest start-ups operate out of cafes rather than conventional workplaces". The Economic Times.
- ↑ Sep 11, Newton Sequeira. "91Springboard to launch co-working hub in Panaji | Goa News - Times of India". The Times of India.
- ↑ Sabharwal, Punita (13 October 2018). "The Future of Work Spaces: A Look At India's Rising Coworking Spaces". Entrepreneur.
- ↑ Dua, Mansi (21 August 2018). "Coworking spaces spawn a new generation of workers and a new style of working". The Indian Express.
- ↑ "The 91springboard Story - 3 Friends, Beer, And A Failed Fund". Inc42 Media. 1 November 2016.
- ↑ "Start-ups: Why India is buzzing".
- ↑ "Why Co-work- BBC Explains".
- ↑ Singh, Rajiv. "91springboard: Work, Play, Spring". Forbes India.
- ↑ Nov 16, Mumbai Mirror / Updated. "Things to do in Mumbai today". Mumbai Mirror.
- ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com.
- ↑ "Co-working spaces to partner with banks to reduce cost per seat". Hindustan Times. 25 October 2016.
- ↑ "Boosters". 91springboard.
- ↑ Staff, TNM (20 June 2017). "Govt's big push to promote startups, launches Startup India Hub". The News Minute.
- ↑ Aug 4, Chethan Kumar / TNN / Updated. "From laser weapons to 4G LAN, Centre throws 11 defence challenges at startups | India News - Times of India". The Times of India.
- ↑ Ghosh, Rashi Aditi. "HDFC Bank introduces Accelerator Engagement Programme".
- ↑ "Google, 91Springboard launch entrepreneurship program for women in tier-II cities". Business Insider.
- ↑ "Google Partners 91springboard To Support Entrepreneurs". TOLOnews.
- ↑ Mathur, Nandita (23 June 2020). "91springboard raises ₹45 crore in fresh funding". Livemint.
- ↑ "Co-working spaces struggle to find the 'perfect business model' - ET RealEstate". ETRealty.com.
- ↑ "Freakout Holdings". Forbes.
- ↑ "91springboard Bags INR 45 Cr From Existing Investors". Inc42 Media. 23 June 2020.
- ↑ "Co-working space provider 91springboard raises fresh funding". VCCircle. 23 June 2020.
- ↑ Sushma UN, qz com. "PayPal, a pioneer that introduced digital payments to the world, now wants to ride India's boom". Scroll.in.
- ↑ Sangwan, Sujata (18 February 2016). "AlmaConnect Raises Pre Series A Funding". iamwire.
- ↑ "91springboard - Investments, Portfolio & Company Exits". Crunchbase.
- ↑ Das, Avik. "Co-working companies offer sops, waive rents to retain clients". The Times of India.
- ↑ Das, Avik / TNN / (Feb 24, 2021). "Co-working spaces see 80% demand recovery - Times of India". The Times of India.
- ↑ Kannan, Keerthana (23 July 2020). "91springboard partners with the University of Arizona to offer virtual learning". The Plunge Daily.
- ↑ Vijayakumar, N. V. (19 February 2021). "EU-India InnoCenter Starts Programme To Bring European Startups To India". The NFA Post.
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