Sarthak Chhabra and Yogesh Arora launched AltF
Coworking, a Gurgaon-based startup that has grown to be worth Rs. 45 crore by
providing reasonably priced coworking spaces. The company has now announced an
innovative initiative called "Year Zero," aimed at supporting young
and new entrepreneurs by offering free office space for a year. The "Year
Zero" campaign aims to assist startups founded by individuals under the
age of 25. The focus is on bootstrapped ventures with promising ideas. This
initiative allows young entrepreneurs to develop their products and businesses
without the financial burden of office space costs.
The application process for the Year Zero campaign
involves multiple stages. Initially, startups must apply by providing their
company details and vision. In the second stage, AltF Coworking reviews each
startup's journey and requests a detailed write-up to better understand their
products and ideas. Based on these criteria, selected startups are granted free
office space for a year. The campaign targets small teams rather than large,
high-staff companies, ensuring it serves those in genuine need. Since its
announcement, the Year Zero campaign has received an overwhelming response,
with over 500 applications in the first round. Each selected startup receives
office space valued at approximately Rs. 4-5 lakhs, funded by a total campaign
budget of Rs. 1 crore. Currently, the campaign is limited to startups
interested in or around Delhi, NCR, but there are plans to expand it to other
Indian cities.
AltF Coworking
Sarthak Chhabra and Yogesh Arora, two college friends,
experimented with a number of business ideas before realizing there was a
lucrative opportunity to offer reasonably priced office space and thus founding
AltF Coworking. Starting with a small basement location with 2-3 desks, AltF
Coworking has grown to 11 coworking spaces across Delhi NCR, offering 10,000
seats. They cater primarily to small businesses, providing workspace ranging
from Rs. 5,000 to Rs. 20,000 per month per seat, depending on the location.
Despite the challenges posed by COVID-19, AltF Coworking has seen substantial
financial growth. The company achieved revenues of Rs. 1 crore in its second
year (2017–18) and reached Rs. 30 crore in FY 2023–24. Due to their emphasis on
customer satisfaction and expansion, AltF Coworking is currently producing an
annual recurring revenue (ARR) of Rs. 45 crore and hopes to soon reach Rs. 80
crore.
AltF Coworking plans to expand to other cities like
Hyderabad and Pune, aiming to increase their seating capacity and continue
supporting small businesses and startups through initiatives like the Year Zero
campaign. The founders' ultimate goal is to make a positive impact on the
entrepreneurial landscape. AltF Coworking's "Year Zero" campaign
represents a significant effort to support young entrepreneurs by providing
free office space, enabling them to focus on innovation and growth. This initiative
showcases the company's commitment to supporting emerging businesses while also
illuminating its overarching vision for the future of entrepreneurship in
India.
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