26 Mar 2019, 14:05 — 6 min read
Enterprise: BRIC: Blue Rose Incubation & Co-Working
Founder: Madhusudhan AV
Industry: Business Services & Consultancy
Year it was founded: 2015
Based out of: Bengaluru, India
As an entrepreneur, how do you envision your workspace? The sky is the limit when it comes to creativity. But for many entrepreneurs who have just started out or small businesses on a tight budget, spending on an office that demands high maintenance costs and commitment to office leases might not be a cakewalk. Also, India is undergoing a paradigm shift in its work culture. People are looking to move from traditional offices to more creative and interactive workplaces. Thanks to co-working, a trend that is quickly gaining momentum, freelancers and small business owners can now spend a very little amount in return for a well-equipped and hassle-free workspace. And the best part of co-working is that you get to share your workspace with other startups, freelancers, and organisations, leading to exchange of ideas and thoughts.
Madhusudhan AV, founder of BRIC- Blue Rose Incubation & Co-Working, leveraged this concept and came up with an uber cool co-working and incubation space. The USP? A place that is not only brewing with engaging conversations, business ideas and lattes but also has special incubation services to support and guide startups in order to set up their business and run it successfully. Established in the year 2015, Madhusudhan’s then small office caught the eyes of several entrepreneurs and grew into a dynamic and multifunctional incubation hub for startups in Bengaluru.
In conversation with GlobalLinker (GL), AV Madhusudhan (AVM) shares his business journey.
GL: Tell us about your business and how it came into being.
AVM: It all started with a small office in 2015 in Bengaluru. We had just set up few tables and chairs for co-working on an hourly basis for entrepreneurs and freelancers. Little did we know that our tiny space would attract thousands of startups. Later, we also found out that many startups were finding it extremely difficult to get all the desired services they needed to create great products and services, at one place.
Based on our statistics we saw that typically around 20-25% of a company’s efforts got wasted in trying to build a traditional office space, on admin and overhead related work. We wanted to eliminate that burden and wanted our clients to clearly focus only on what’s most important. We realised it was essential to set up an incubation service particularly for startups to help them not only with co-working but also with other aspects like admin, accounting, finance, legal, web, digital marketing, PR, training, cloud service etc. Our aim was to help them get their work done efficiently by using our plug and play rooms at BRIC Space which are contemporarily designed to motivate employees with a happy work culture.
The whole purpose of starting BRIC Space was to create a startup ecosystem and help India build innovative startups.
GL: What is the USP of your business?
AVM: Our company provides a co-working space with incubation services like mentoring, training programmes, web, legal, compliance, accounting, PR and digital marketing services which helps startups nurture their business and aids in their growth. Our unique idea of sponsor engagement, where we connect a startup to the right sponsor body helps startups with their business funding. We want to inspire millennials through our co-working culture and build a strong startup ecosystem which is sustainable. This I believe is our USP.
GL: What are the challenges you have faced in establishing your business?
AVM: Initially it was tough to create a startup ecosystem depending on varied requirements. Every single company or startup had different needs and it took time to understand their prerequisites. But we eventually overcame the challenges and built a space that people love coming to and which can cater A to Z of their concerns in building a great businesses.
GL: What has been your greatest learning as an entrepreneur?
AVM: You need the right team to build a startup. No matter how good your startup is, but if your team does not have the same vision as you, the road is bound to get tougher ahead.
GL: How do you believe GlobalLinker benefits business owners?
AVM: GlobalLinker is an amazing platform for business networking. It helps enterprises connect with the right kind of people and provides so much scope and learning to expand their business.
GL: What is your big business dream?
AVM: The future belongs to millennials. In the next decade millions of people will migrate to metros and majority will be youths who inspire the next generation. The motive of BRIC Space is to inspire millennials to take up startups and build successful companies through a great startup ecosystem. We want to help as many startups as possible in India and the world through our incubation services and make India numero uno in innovation.
GL: What is your message to aspiring entrepreneurs?
AVM: Focus on just one thing at a time and don’t get distracted or tempted by diversions. When you set out on a path create a startup which will impact the lives of so many people, it takes ample time and energy to fulfill one single mission to make it successful. Rather than being an average Joe at five things, master one thing and be incredible at it.
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Posted byGlobalLinker Staff
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