WeWork, a coworking space providing company, has officially launched WeWork Labs in India. The launch was made in Bengaluru by Roee Adler, SVP, Global Head of WeWork Labs.
While the original WeWork only provides spaces and amenities, this separate venture of the firm offers tailored programs to early-stage startups by creating an ideation hub and helping them partner with incubators, accelerators, and large enterprises.
The services in Indian Labs include, weekly community events, selective discounts on business and lifestyle services, a global network with an opportunity to score clients and investors.
The endeavor boasts of an advisory board which includes top industry leaders like Harsha Kumar, Lightspeed Ventures, Raghunadan G, TaxiForSure.com, Rahul Khanna, Trifecta Capital, Rohit Bhat, Airavat Capital, Sanjay Nath, Blume Ventures, Shailani Prakash 500 Startups, and Shradha Sharma, YourStory amongst others.
WeWork Labs was launched in early 2018 and already had a presence in 7 other countries including US, Canada, China, Singapore, Israel, Korea, and Brazil. The first Lab in India was opened in Gurugram three-four months ago at a price of Rs 17,000 per person per month.
The startups can partner with a Lab on a for-pay basis and can work with them for as long as they need.
Globally, WeWork, the parent entity, has a community of over 268,000 members; and WeWork Labs has partnered with over 1,000 startups. The Gurgaon Lab has already partnered with over 8 startups.
WeWork Labs competes with SAP Labs, and the parent entity faces heavy competition from CoWrks, Awfis, Innov8 and others in the Indian ecosystem.