New Delhi, Aug 28 (KNN) Small Industries Development Bank of India (SIDBI) has partnered with Incuspaze Solutions Private Limited (Incuspaze) to open a first-of-its-kind co-working space exclusively designed for Micro, Small and Medium Enterprises (MSMEs) and startups at Connaught Place, New Delhi.

The co-working space, called @Workspaze is located at 1, Tolstoy Marg, New Delhi. This initiative intends to be a market-maker for this segment, said SIDBI.

Equipped with training and conference room, fast-speed internet, reception, refreshment, recreational area, house-keeping facilities etc, this office is only 50 meters away from Barakhamba Metro Station.

On the occasion, IAS, Chairman and Managing Director of SIDBI, Mohammad Mustafa said, “This is yet another initiative of ours to handhold entrepreneurs who are at the initial stage of their entrepreneurship journey. During the first 18 months of entrepreneurship journey, an enterprise may face several challenges. At SIDBI we want to handhold entrepreneurs during this period so that they have a smooth ride in their venture. “

Our aim is to expand co-working initiative in other key cities of the country. We have already started work for a similar arrangement in Mumbai, he added.

Founder and CEO of Incuspaze Solutions Private Limited, Sanjay Choudhary said, “We are delighted to launch the new centre with SIDBI and extremely excited to step into a new avenue. We believe that this partnership will open route of opportunities for new as well as established businesses. We synced our ideologies with SIDBI to facilitate a hassle-free co-working environment for MSMEs and provide resources to build strong connections with other industries to create ideas and develop business. We look forward to a long and fruitful association.”

The idea of co-working space gives MSMEs and startups the benefit of a centrally located business. The MSMEs and startups who shall set up their offices in @Workspaze shall be charged affordable rentals in comparison with similar coworking space in the vicinity, said SIDBI.

Under this arrangement, @Workspaze will provide a premium co-working space with state-of-the-art facilities, it added.

Also, an MSME accelerator program is proposed to be started shortly by SIDBI for the MSMEs and startups who will set up their offices in @Workspaze. The aim of the program would be to contribute to the evolving entrepreneurial India.