I recently came across an interesting angel-backed company, Woodstock Ambience, which has launched a residential hostel in Bangalore to provide accommodation specifically to bachelors who work at BPO/IT Services companies.
The Woodstock web site explains how such an special accommodation benefits both employers and employees.
*The fleet management system also not coping well with scale and changing customer demands. Wide dispersal of employees over the entire city and outskirts adds to turn around times for fleet managers
* Equal opportunity employer – inability to attract more women from outside work city
*Diffident to increase exposure to liability by taking on employee housing but not left with many options
* Inability to attract OoT’s (Out of Towners) due to lack of proper accommodation availability
* Inability to find accommodation solutions for employees who are primarily short to medium stay (6 to 18 months)
* Need accommodation that is furnished and managed
* Quality of life issues outside of work premises
Woodstock's investors include M.J. Aravind, one of the co-founders of Daksh (a pioneering BPO acquired by IBM in 2004) who is now a VC with Artiman Ventures. Amit Shah of Artiman Ventures has also invested in the company.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.