The Space aims to provide infrastructure for 3-6 person startup teams who will be selected by investors from the Mumbai startup ecosystem.
Matrix Partners India and K Raheja Corp have announced the launch of a new co-working space in Powai, The Space. This initiative is in response to the growing startup activity in Mumbai, and the comparatively higher costs of starting up in Mumbai than other cities.
The Space aims to provide infrastructure for 3-6 person startup teams who will be selected by a panel of investors from the Mumbai startup ecosystem. Startups at the pre-product or product development stages will be given priority rather than more mature startups.
The Space can accommodate 8 startup teams per cycle. Each cycle will run for 3 months, after which new teams are eligible to apply and existing teams can re-apply. During the 3 month cycle, there will also be periodic interactions with functional experts from the industry and ecosystem partners, organized by the Matrix team.
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