91springboard opens 3rd facility in Hyderabad.

91springboard, a co-working space provider, opened its third hub in Hyderabad. The 1,000-seater facility is the largest hub in the city.

After establishing its first dedicated co-working space in Delhi in 2012, the company has grown to over 21 hubs spread across premier cities.

Varun Chawla, Co-founder, in a statement said, “This is the largest hub in Hyderabad. Our focus is now on Tier 1 cities considering the affordability factor of our memberships and the business presence of start-ups, SMEs and other enterprises.”

91springboard is looking at three big options in South for the next five years with expansion plans in Bengaluru, Hyderabad and Chennai.

He said: “When start-ups start outside a co-working space, it ideally takes 23 months to grow, when in a co-working space it takes 11 months.”

The company plans to focus on investment in creating communities with an expected outlay of $50-60 million over the next five years.

HBL