Faridabad Witnessing A New Era of Co-Working With SidSam
On International Women's Day, SMEStreet feels proud to introduce a women entrepreneur from Faridabad who is creating a difference in the co-working space. In a conversation with SMEStreet's, Kunal Dhar, Ms Nivedita, Founder of SidSam Co-Working explained the changing market dynamics of Co-working space.
On International Women’s Day, we must congratulate ourselves for the support that almighty has given to mankind in the form of womanhood. This blessing gets very powerful when it is added in the entrepreneurship domain. So, while celebrating International Women’s Day, we at SMEStreet would like to introduce a women entrepreneur Ms. Nivedita, founder of SidSam Co-Working who is creating her own space by adding great value in the co-working place.
While Delhi NCR has been among top destinations of co-working industry, Faridabad which is known for it’s industrial and business legacy is chasing co-working trend and now, it is giving a tough competition to places like Noida and Gurgaon. Well, the entrepreneurial talent of Faridabad is welcoming new name in co-working segment SidSam Co-Working.
Edited excerpts of the interview:
Kunal: What motivated you to foray into entrepreneurship?
Nivedita: I always wanted to do something but was tied up with family responsibilities, so it was in my mind that I have to do something for myself in life because I am not that kitty party type of person and I realise that Faridabad as a city requires an efficient entrepreneurial ecosystem. I observed that there is a strong need of an entrepreneur-friendly co-working set up and hence the concept of SidSam Co-Working appeared in my mind.
But yes, I have been working with my husband across the years in his packaging business. We have already an established SidSam Group which is into specialised packaging.
Kunal: How do you look at initial level entrepreneurial challenges?
Nivedita: Challenges are challenges, I personally see most of the challenges as an opportunity. You cannot totally differentiate between one challenge and other. They can come in any form, any shape, any size, anytime of the day, so you can’t demarcate between challenges. Challenges are meant to overcome.
In fact, entrepreneurial challenges often give birth to great business ideas. Once we develop a solution around an industry-wide challenge, it can become a great business idea. Initial level entrepreneurial challenges are faced by every entrepreneur, they need to be handled and managed effectively, I am also trying to do the same.
Kunal: These days Coworking spaces have emerged as a big business. What exclusivity you would like to add here through your venture?
Nivedita: Coworking spaces are minting money and there are coworking spaces I know that are going down in the dumps, “WeWork” is a very big example. The only thing that I am working on is giving a pocket-friendly module because people who are doing startups don’t have a big budget. They want a positive environment to sit and work on their creativity. For me, it is providing them with such kind of a place at a price which does not pinch their pocket and so that they can invest in the business. Pocket-friendly and affordable is the main motive
Is this your self-funded initiative or you have investors supporting this venture?
It is 100% self-funded, the parent company “SidSam” is already an established business group the name “SidSam” comes from the name of my children. “Sid” means Siddhant and “Sam” means Samridhi, so that’s why I am carrying forward this name in my coworking space because I will get the benefit of the already established name, plus there is an emotional attachment also.
Are you planning to explore external institutional funding for your business?
We will think of it, we are open to it. We should have a very flexible approach to life and business. Let’s see what comes in front of us.
Where do you like to see yourself in the next three years?
A very important question. This being the baby, the first venture. In the next three years, I target all major cities, looking forward to around 25,000 seats all over India and then working abroad. 25,000 seats are my target in the next three years in various cities in India. The current property can only accommodate around 800-900 seats. In another 6-8 months, I plan a building over here and get more 700 to 800 seats.
Many of my children’s friends go to WeWork and other coworking spaces. Commuting for more than two and a half hours is a problem. One of my son’s friend is giving Rs. 22,500 per seat to WeWork, the least module that I have come to know is Rs. 13,500, but going to Gurgaon and spending that amount of money is very expensive, but mine is pocket-friendly and in the city. I am targeting all those people who have to go to this traffic and pollution. Let them be comfortable over here. I am expecting a good result over.
As a women entrepreneur yourself, what messages or tips you would like to share with other women entrepreneurship aspirants?
Just one tip, believe in yourself, nobody else is going to do that for you and maybe how small an idea you have, don’t look at anybody, just do it, just implement it, because one fine day it is going to grow, just like we plant a seed and then we get a tree, keep planting something, keep believing in yourself, that’s the best thing that you can give to yourself.
How do you see Faridabad as a booming host for startups?
A very interesting question. Faridabad is taking baby steps towards startups. Faridabad used to be the biggest industrial town of Asia but then because of political pressures, Noida and Gurgaon were given growth and Faridabad was always neglected, but now for the last 2-3 years, I am seeing lots of growth in Faridabad and people are ready to invest in Faridabad. So Faridabad is coming up and it is going to come up in a big way. Faridabad is going to get a boom now. My Coworking is going to help people in Faridabad.