By Bernie Cahiles-Magkilat
KMC MAG Solutions, Inc., the country’s largest provider of flexible working spaces, said it will increase by 50 percent its workspaces next year from the current 50,000 square meter space by expanding existing sites and new locations in new cities.
KMC Vice-President Riccardo Corsini said in an interview at the first ever KMC Startup Summit that the company has organized, they have currently 18 facilities located in various parts in the country on strong demand for flexible workspaces.
KMC is looking at opening a new site in Clark next year and soon in Alabang and Iloilo due to demand in these booming cities. It is looking at expanding its footprint in Cebu, Davao and Manila with the largest concentration in Bonifacio Global City. It is also present in Ortigas, Mandaluyong, and Quezon City.
KMC has been a strong supporter of tech start-ups and their facilities are built to suit the needs of start-ups to support the ecosystem. Their sites have common facilities such as yoga, wellness center, photo studio, workshops, and audio recording room for ‘youtubers’.
According to Corsini, their clients are a good mix of local and international as KMC is building a community of networkers with its facility become a stop shop center for start-ups. At first, they get mostly from the outsourcing and BPO clients who are able to reduce their risk in real estate investments. Clients normally book a minimum of three months lease at the KMC facilities.
With its flexible working space growing to 75,000 square meters by next year, he said they expect doubling of revenues by next year although the company has been posting higher revenues in the past 8 years of their operation in the country.
At the summit, KMC Chairman and Co-Founder Gregory Kittelson said the summit brings together the best and brightest minds in the start-up ecosystem.
“Throughout the summit, there will be many opportunities for developing relationships with key players who share common vision of growth and economic sustainability,” said Kittelson.
In partnership with Impact Hub Manila, KMC undertook a program entitled “Space for Ingenious Program” which helps bring an idea from conception to reality through mentorship from industry experts, spaces conducive to productivity and idea incubation, and access to vast network of connections and potential investors.
At the KMC facilities, start-ups and entrepreneurs are provided a space to establish relationships, develop connections, and engage in programs that will help grow and sustain their endeavors. He said there are 6 startups spread around the locations of KMC that endeavored together with their partner, Impact Hub Manila.
According to the 2017 Philippine Startup Survey, there are now more than 300 startups in the country, most of which being founded between 2012 and 2017.