Daijiworld Media Network – Bangalore (NR)

Bangalore, Jun 25: A chain of plug-n-play business centre is soon going to mushroom all over the South, under the brand name Evoma Business Incubation Facilities. With the burgeoning demand for ‘readymade offices’, Bangalore-based Target Associates is all set to invest more than $30 million in this type of business centre, in the next three years. Target currently operates the Evoma Business Incubation Facility at Whitefield in Bangalore. 

Initially Target will launch a self sufficient 1, 33,000 sq ft area plug-and-play business centre on Old Madras Road (OMR). This facility will be complete with a 66-room business hotel. Evoma’s basic goal is to provide MNCs the right kind of atmosphere to launch their businesses in the country. This new facility on OMR will provide all the vital services and infrastructure necessary to sustain and grow one’s business. More than 40 firms have been incubated since Target launched their pilot facility in Bangalore in 2004. Buoyed by this success, Target decided to take brand Evoma beyond Bangalore, according to the director of Target Associates, Ashok Vohra.

Mangalore and Mysore will most probably play host to the launch of plug-and-play facilities by Target, in the first phase of its expansion. The company is also planning to set up similar facilities in Chennai and Coimbatore. Their basic aim is to be a major presence in 3 metros spread over a period of 3 years, before spreading their concept on a pan-India basis according to Vohra. The Company has also got plans to set up a corporate retreat at Sakleshpur. 

Moreover according to Vohra, while at present they are looking to consolidate their presence in the South only, later on plans are afoot to launch Evoma in Western and Northern India too. And for this, they planned to spend close to Rs 100 crore in the second phase of expansion.