Innov8 pivots to '5 Minutes to Metro' strategy as Mumbai & Bengaluru metro traffic soars
I
nnov8, India's leading co-working startup announced that it is now pivoting to a '5 mins to a metro station' strategy, where it will only open new co-working centers near metro stations and key arterial roads across top business cities pan India. It has witnessed over 90% occupancy, high demand and healthy rentals in its co-working centers across the country which are within five minutes to metro stations. As work from office returns even in startups, which form a significant part of Innov8's customer base, ease of public commute is a major draw. Employees strongly prefer metro proximity and companies choosing their flex-office spaces accordingly.
The recently inaugurated Mumbai metro line passing through the Mumbai's suburbs such as Andheri, Dahisar, Link Road and Western Express highway has started witnessing highest ridership at 170K + commuters on a single day. Reports indicate that this number will cross 200K when monsoons begin. Bengaluru's Whitefield metro, which is the country's first tech corridor to be connected by metro is also seeing an average ridership of 23K daily. Reports indicate that there has been a 10% reduction in traffic congestion since the metro line became operational. With many returning to offices, ridership in Hyderabad metro has gone up to over 4.70 lakh passengers a day, with total passenger trips amounting to over 6.22 lakh a day. Over 6 crore people used the Chennai metro in 2022 and Delhi metro, one of the country's most well-connected metro's ridership touched pre-pandemic levels in 2022.
Metro stations across major cities in India boasts of ample parking space, connectivity to suburban railway and bus service or for last mile connectivity and to encourage commuters to use the metro. Bridges and travelators to important hubs such as commercial spaces, workspaces and apartments nearby will further improve footfall and attract more commuters in the metro stations.
Innov8 provides premium co-working spaces with uninterrupted connectivity, easy access and proximity to key transit hubs such as metro stations, airport, railway station and more and flexible working arrangement, all this at an affordable price. Innov8 currently has seven centres in Delhi-NCR that have great connectivity with the Delhi Metro and Transit Metro, making it seamless for customers to travel across Delhi, Noida, and Gurgaon. All Innov8's centres in Mumbai are in the Andheri East with proximity metro stations making it a preferred destination for startups, well-established corporates and other businesses.
Talking about their renewed approach and expansion, Dr. Ritesh Malik, Founder of Innov8 said "According to a recent survey 64% of working professionals prefer to work close to public transport links. By setting up co-working spaces at transit locations, businesses can access a larger pool of talent, as people who rely on public transit for commuting will have easier access to these locations. Setting up co-working spaces in transit locations also help reduce commute time, improve work-life balance and in turn increase productivity. Co-working spaces at such prime locations are also a sustainable choice and helps not just the individuals but even companies save spends that would otherwise go in providing transport services to officegoers."
Pankhuri Sakhuja, Business Head of Innov8 added, "As a business, we understand the value of location and how it impacts productivity. Being situated near key transit points is crucial for our coworking spaces, as it allows our members to easily access our space, no matter where they're coming from. We believe that by providing a convenient and accessible location, we're not just helping save time and money on commute, but we're also contributing to the overall success and growth of the business."
Founded in 2015 by Dr. Ritesh Malik, Innov8 is currently spread across 9 cities-Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad and Indore, with over 20 centres hosting over 7000+ employees of brands like IndusInd Bank, Jio Saavn , Phone Pe and Mobi Kwik.
Innov8 is a leading provider of premium co-working spaces, offering a vibrant and productive work environment with excellent connectivity, access, and flexibility. Founded in 2015 by Dr. Ritesh Malik, Innov8 has quickly established itself as a leader in the co-working space industry in India, with centres in key business cities across the country.
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✔️ Innov8 pivots to '5 Minutes to Metro' strategy as Mumbai & Bengaluru metro traffic soars
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