CHENNAI: With the planned expansion of co-working spaces throughout the city as part of the chief minister’s project, the state government has established a special purpose vehicle (SPV) and a private company led by a CEO to oversee these spaces.
The SPV will operate independently from the government to facilitate the day-to-day management of the co-working facilities. Participants in the meeting—including officials from CMDA, special projects, and the urban development department—indicated that the chief minister aims for all 30 proposed centers to function seamlessly, regardless of changes in government or departmental leadership.
Currently, the only co-working center in Kolathur is managed jointly by CMDA and GCC, a model that may prove unsustainable in the long run due to potential changes in officials, as well as coordination and funding challenges. Consequently, the new SPV will receive direct funding from the government and hold the necessary executive powers to maintain the centers, similar to organizations like CMRL, CUMTA, or Smart City, according to an official.
G Prakash, CMDA member-secretary, announced plans to host recruitment agencies within the co-working spaces, allowing major firms to hire talent either online or on-site. “Agencies will handle profile vetting and interviews while also promoting co-working spaces as a legitimate job placement platform. This initiative will launch in a few months once the SPV is established,” he said, adding that a portal will be created to provide job data and event details.
He noted the growing number of professionals utilizing the co-working spaces, stating that those willing to share their work data voluntarily will benefit from this recruitment system. “On average, around 100 individuals visit the Kolathur center daily, and that number will grow as all 29 centers open. The placement services will be free, as the SPV will simply coordinate with businesses and startups,” Prakash added.
