How Coworking Spaces Lead to More Innovation for Tech Startups?

How coworking office helps you to establish your business in a new city

Startups are born every other day. Given India’s understanding of technology, it’s safe to assume that a majority of startups are focused on the tech space. Statistically speaking, 7.1% of all startups around the world are in the Fintech industry followed by Life sciences (6.8%).

Source: First Site Guide

As with every startup, tech founders are gravitating towards coworking spaces for their teams. It’s not just the budget-friendly nature of coworking spaces for tech startups that make them an attractive working preposition. 

Since coworking spaces are shared by professionals from various fields, it encourages idea sharing and knowledge spillovers. It’s just what’s needed to push innovation for tech startups. Here are some of the ways coworking spaces lead to more innovation for tech start-ups.

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6 Ways coworking spaces lead to more innovation for tech start-ups

Exposure To More Ideas

When it comes to tech startups, every step of product creation is a challenge. You need to constantly address problems and find ways to solve them. Some you may be able to solve on your own but there may be others that stump you. Remote workers can’t really expect consistent spectacular breakthroughs after spending days working on their own. You need to feel like you’re part of something bigger and sometimes get someone else’s point of view on a problem. 

Coworking spaces for tech companies is the perfect solution. You’re surrounded by creative, passionate professionals from different industries and stages of the business, who you can talk to, exchange ideas with and learn from. 

Unplanned Interactions

One of the biggest coworking space benefits for startups is that it breaks down walls between companies. Everyone works on the same floor. Thus, it becomes easier to interact with others. Rather than have to wait for scheduled meetings, you can walk across to someone in the common spaces and strike up a conversation. 

When you’re facing an issue that you know someone else has the answer to, you can go across and ask him directly without wasting time. This saves considerable time for tech startups. 

Unplanned Interactions

Source: Science Direct

A survey found that a majority of professionals in coworking spaces saw these unplanned interactions and networking opportunities as the main reason for joining the space. 

Collaboration Opportunities

The benefits of coworking space for tech startups are not limited to exchanging ideas. It becomes much easier to find collaborators. A survey found that 39.01% of professionals working remotely found collaboration and communication to be their biggest challenges. It’s also one of the biggest hurdles to innovation. 

What are your biggest challenges when working remotely?

Source: Coworking Insights 

A coworking space helps with both communication and collaboration. Within the technology space, you may realize in the course of a conversation that the person sitting beside you has developed a piece of code or tool that can be integrated with your product to improve functionality. You may even meet collaborators who can introduce you to new clients. 

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Immediate Feedback

There are many steps between product ideation and launch. At every stage, you need to test the product and gather feedback to find ways to improve it. Testing the product on friends and family may not always give you the response you need since they may not understand the nuances of technology. 

They may also be biased in your favor. You need a wider, more neutral testing audience – the freelancers and other remote workers in your coworking space may be ideal. You can ask them to test the product and get instant feedback. If you’re lucky, you may even find a mentor who can accelerate product development. 

Fewer Distractions

A survey of remote workers found that 12% listed distractions at home as their biggest struggle. The more distractions you face, the slower your rate of innovation.

State of Remote Report 2022

Source: Plutio

One of the main advantages of working in a shared office space rather than your neighborhood café is that the space is used only by other working professionals. There is a much lower risk of having someone disturb you and no one will ask you to move to make place for someone else. 

Similarly, while you may be tempted to watch a television series in the middle of the day or take a nap at home, there are no such distractions in a coworking space. 

Like you, everyone else in a coworking space has a professional goal to meet. Hence, you can stay focused on your task for the day and innovate at a faster pace. 

Inspiration From Everyone Around

Lastly, a coworking space provides the ideal environment for innovation. Each day, you get to choose whether you want to work on your own at a corner desk or a community table. In either case, you’re surrounded by like-minded professionals. 

There’s no dearth of motivation. One look around at everyone else working diligently on their tasks will inspire you to get moving too and not give in to daydreaming. 

💡 Are you looking for Coworking space in Gurgaon, Noida or Delhi?. We are just a call away.
Call now: 08999 828282

Finding The Right Coworking Space For Tech Startups

To experience the full range of benefits offered by coworking spaces, you need to make sure you choose the right one for your team. 

As a tech startup, along with looking at the basics such as location, ergonomic furnishing, and safety, you also need to look into internet bandwidth, the availability of printers, power backup, meeting rooms with audio-visual conferencing equipment, etc. 

If you are in Delhi, Noida or Gurgaon, check out The Office Pass (TOP), the largest Coworking and Managed Office operator in Delhi NCR that has shared office spaces that meet all your requirements. These spaces are popular with many tech startups and apart from giving you space to work undisturbed; it also offers opportunities to expand your network. To learn more, reach out to us at 08999 828282.


Follow Sandeep Sharma:

Sandeep Sharma is a seasoned entrepreneur and thought leader in the coworking industry. With over a decade of experience, he has played a pivotal role in shaping the evolution of collaborative workspaces globally.