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This start-up can open work space across globe

Rashmi Pratap Mumbai | Updated on November 12, 2018 Published on November 12, 2018

 

Imagine walking into any co-working space across the globe and be able to use the plug-and-play services just upon flashing a membership card.

Indian co-working start-up Vorq Space is launching a subscription-based service that will allow entrepreneurs, freelancers, start-ups and digital nomads the use of facilities at any of the 25 member co-working spaces in the US, Europe and South-East Asia.

Called Vorq Visa, the service will be available on app and the website. It will allow a member to subscribe to a plan and send a request to book a partner space on a given date, helping members use facilities across borders with ease.

“With Vorq Visa, we aim to build partner relations with spaces globally, providing a platform for people to use co-working spaces as per convenience. The Android-based application is currently under the development and test phase. We target going live by December-end or early January,” Akshit Mehta, founder, Vorq Space, told BusinessLine. The subscription plans will be tiered and offer free day passes besides other additional services as per the offer chosen. “Each member will get benefits of up to 1.5 times the membership fee, depending on their subscription plan. The revenues would only be generated through the subscription. We will not be charging any commissions,” he added.

According to Emergent Research, the global number of co-working members will grow faster than the number of spaces — from 1.74 million in 2017 to 5.1 million in 2022, an annual growth rate of 24 per cent. The number of global coworking spaces is expected grow from 14,411 in 2017 to over 30,000 in 2022. Mehta said his firm was aiming to create an alliance where members from different cities and franchises could move across borders. “So many co-working spaces operate independently while maintaining collaborative relations. To forge formal relationships with each like-minded space would be impossible, so we designed the Vorq Visa to create a space that’s interested in sharing to opt in,” he added.

Tie-ups

The tie-up will include Indian co-working spaces as well. “We are currently executing MoUs with 25 spaces globally.” Emergent has forecasted that the Asia-Pacific co-working market will continue to grow over the next five years, with India emerging as one of the world’s top five markets by 2022.

“The major segment of our user base will be digital nomads and working travellers, whose foremost requirement is a work environment with high speed internet and a like-minded community of individuals,” he added.

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Published on November 12, 2018
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