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Gurgaon Startup Is Offering FREE Office Space To Young Entrepreneurs

Two young entrepreneurs made their Gurgaon-based coworking space startup AltF Coworking a Rs. 45 crore enterprise, now providing free office space to young and new entrepreneurs with promising businesses.

By Bilal Khan
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Sarthak Chhabra and Yogesh Arora - Founders At AltF Co-Working

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The "Year Zero" initiative by AltF Coworking aims to support startups founded by individuals under 25 years old, focusing on bootstrapped ventures with promising ideas. This campaign offers free office spaces for a year to newly established companies led by young CEOs, allowing them to concentrate on developing their products and businesses without the financial burden of office space costs.

"The Year Zero campaign is our way of giving back and supporting the upcoming generation of entrepreneurs," said Sarthak Chhabra, co-founder of the co-working space startup during the exclusive conversation with Startup Pedia.  

The application process for the Year Zero campaign involves multiple stages. In the first stage, startups apply by providing their company details and vision. In the second stage, the co-working space startup reviews each startup's journey and asks for a 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.

Clarifying the point about why they are providing free office spaces to only new startups and founders below 25 years old, Sarthak told Startup Pedia, "We would love to help entrepreneurs older than 25 years old in the future, but with limited budget, we want to help those who have just graduated or as young as 25 years old and are eager to launch something impactful."

So far, the Gurgaon-based co-working space startup has received an amazing 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.

"The goal of the Year Zero campaign is to provide significant support to young entrepreneurs. Even if just one startup from the campaign becomes successful, it would be a major achievement for our company," said the co-founder during the conversation with Startup Pedia.

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Detailed Overview of AltF Coworking:

AltF Coworking was founded by two college friends Sarthak Chhabra and Yogesh Arora, who experimented with multiple business ideas before identifying a profitable opportunity in providing affordable office space.

Starting with a small basement location with 2-3 desks, AltF Coworking space startup has grown to 11 coworking spaces across Delhi NCR, offering 10,000 seats. They cater primarily to small businesses, providing workspace from Rs. 5,000 to Rs. 20,000 per month per seat, depending on the location.

"Although our charges vary by area, our commitment to service remains consistent. At all our coworking spaces, we offer amenities such as internet, coffee, and housekeeping within our clients' monthly budgets," explains the co-founder.

Gurgaon's AltF Co-Working Space Startup

Revenue Journey of AltF Coworking:

Despite challenges posed by COVID-19, AltF Coworking has seen substantial financial growth, achieving revenues of Rs. 1 crore in its second year (2017-18) and reaching Rs. 30 crore in FY 2023-24.

The Gurgaon-based co-working startup is currently generating Annual Recurring Revenue (ARR) of Rs. 45 crores and aims to reach Rs. 80 crores soon, driven by their focus on client satisfaction and growth.

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Vision and Future Plans of AltF Coworking:

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.

"If supporting just one startup through our Year Zero campaign leads to significant success, it will have a profound impact on our initiative," Sarthak concludes. The founders' ultimate goal is to make a positive impact on the entrepreneurship landscape.

FAQ

What is the "Year Zero" campaign by AltF Coworking?
The "Year Zero" campaign is an initiative launched by AltF Coworking to provide free office space for a year to startups led by founders under 25 years old. It aims to support young entrepreneurs who have promising business ideas but may lack resources like funding and office space
Who can apply for the Year Zero campaign?
Startups founded by individuals under 25 years old are eligible to apply. The campaign targets bootstrapped ventures with innovative ideas and growth potential.
Who are the founders of AltF Coworking space?
The founders of AltF Coworking are Sarthak Chhabra and Yogesh Arora.
What has been the revenue of AltF Coworking space?
AltF Coworking has seen significant revenue growth since its inception. As of the latest information available: In its second year (2017-18), AltF Coworking achieved revenues of Rs. 1 crore. By FY 2023-24, the revenue had grown substantially to Rs. 30 crore. Currently, AltF Coworking is generating Annual Recurring Revenue (ARR) of Rs. 45 crores. The company continues to aim for further growth, with plans to reach Rs. 80 crores soon.