Investments by WeWork Labs launched to empower India’s early-stage startups

New Delhi : Leading flexible workspace provider WeWork on Tuesday launched 'investments by WeWork Labs', in line with its aim to be the hub for business creation across India.

The initiative is designed to unlock opportunities for India’s entrepreneurial ecosystem and empower the next generation of founders and early-stage startups. The shortlisted startups will be able to apply for pre-seed/seed capital up to $200,000, invested by WeWork India.

"Investments by WeWork Labs marks a pivotal moment in our commitment to this cause. We are positioning ourselves as the driving force behind the forthcoming wave of innovations that will shape the future of the startup ecosystem," Karan Virwani, CEO, WeWork India, said in a statement.

Investments by WeWork Labs will focus on helping early-stage startups through a blend of pre-seed capital, competitive guidance and comprehensive business support to help them scale, the company said.

To introduce the initiative to the Indian startup landscape, WeWork Labs had launched a 3-city roadshow series as well as other partner events, bringing together like-minded early-stage founders under one roof. These events took place in Bengaluru, Gurugram, and Mumbai, creating a dynamic platform for networking, knowledge sharing, and collaboration, and garnering over 800 applications.

Moreover, the company mentioned that it will host ‘Jumpstart’, a unique value-driven event for founders to showcase the investment portfolio to the world. Scheduled for January 2024, Jumpstart aims to equip founders with everything they need to launch and scale their startup, along with opportunities to secure investment.

Since its inception, over 500 startups have gone through WeWork Labs as part of the incubator and accelerator programme, over the last five years, and currently, over 330 active startup members are being accelerated.