“Taking business trips can become hefty on the startups as they sometimes end up spending money overshooting their budget. To solve this problem for the startups on a tight budget, Construkt Media has come up with a perfect remedy.”

Construkt Media, founded by Shashi Kiran Rao, has instated its Startup Hostel in Bangalore. Startup hostel is the first of its kind initiative, undertaken by Rao with the help of Karan Bahadur, a production co-coordinator at TEDx Bangalore. The project is bootstrapped with the initial investment of Rs 22 lakhs. Startup Hostel, located in luxurious neighborhood of Indira Nagar, can host around 20 people at a time with the charges of Rs 850 per night. It comes with all the necessary facilities like WiFi, self catering kitchen, laundry services, lounge space and much more.

Construkt Media had commissioned a survey to find out the amount of money startups spend on their business expedition. As per the survey of 2000 startups, around 18,000 room nights were required per year across the country for traveling startup entrepreneurs. This figure appalled the founders and thus compelled them to launch this unique project.

Besides providing cheap stopover, this Startup hostel offers a special privilege of networking in the startup community to the entrepreneurs. Hostel’s target customers are outstation entrepreneurs travelling to startup hub city, entrepreneurs visiting accelerator programs in the city, interns coming for entrepreneurship programs and Bangalore based startups who would like to bring down its team to city for a short stay.

Construkt is planning to offer 100-120 beds across cities of Bangalore, Delhi, Goa and Pune by end of this year, as reported by vccircle. The hostel has also planned various events for startups, to bring together a curated like-minded people.

Key Takeaway:

• Construkt Media comes up with first of its kind Startup Hostel based in Bangalore.
• It is a bootstrapped project with initial investment of Rs. 22 lakhs.
• Construkt is planning to offer 100-120 beds across cities of Banglore, Delhi, Goa and Pune by end of this year.