A BHive for startups grows bigger in Bangalore

It started out in Koramangala – a hotbed of startup activity in Bangalore. Within a year, it opened up co-working spaces in three other locations. So far, as many as 90 startups have made the BHive buzz.

Today BHive announced funding from angel investors to grow and support a fast-expanding ecosystem. Co-founder of TaxiForSure Raghunandan G, co-founder of Venturesity Rajesh Rai, managing director of Hive Technologies Arihant Patni, director of the UK India Business Council Arun Narayan, and others are among the investors. The amount of investment was not disclosed.

Shesh Paplikar, CEO and founder of BHive, explains that maintaining an office, housekeeping, bill payments, and the like are distractions at early stages of a startup. That’s where a plug-and-play workspace like BHive plays a vital role.

More than a physical space

Roadrunnr, for example, started out from a six-seater cabin inside BHive Koramangala, and today it is one of the leading logistics startups in India. “BHive helped us focus and accelerate in our early stage by providing us with the right scaffolds. We enjoyed our time at BHive and moved out as we grew very large,” says Arpit Dave, co-founder of Roadrunnr.

TaxiForSure, in contrast, had to spend a lot of energy in setting up office at the very outset. “TaxiForSure outgrew its office space in no time. The growing needs of the company took its employees to four different offices in the same year. Many efforts that could have been invested on work were channeled into becoming a fully functional office space,” says Raghunandan G, who is one of the investors in BHive.

Early stage startups also gain from the collaboration and mentorship available in a vibrant co-working space, which arranges talks and workshops by mentors. “Entrepreneurs need all the help they can get to achieve their vision. Physical work space is one thing, but having support from a community of mentors and other entrepreneurs in the same space is a big asset,” says Arihant Patni.

“Being a small team, we derive energy from the larger community around us. Working alongside a hundred odd people in such a workspace fills us with a feeling of expanse, which in turn keeps us motivated. On a busy day, a good conversation with a fellow member works as a stress buster,” says Vardhan Koshal of Udacity, which recently launched its Nanodegree program, a new online education model, in India.

Ravindra M.K., co-founder of BHive, says the aim is to be both inspiring and encouraging to nurture talented startups. Apart from regular events like panel discussions, there are also informal events to trigger interaction within the community. This helps young entrepreneurs, especially techies, develop the multi-dimensional skills required to be successful in business.