By Daniel Hunter
As the Prime Minister concluded his second trade mission to India, 16 of the UK’s transformational web-based start-up companies have also just made their mark on India’s thriving technology sector by securing significant partnerships with some of India’s biggest contractors.
Among some of the successful companies include Ambiental Technical Solutions which is negotiating a contract to map the flood risk for the whole of India, Omnisoft Services which has partnered with GA Technologies and zondle, which has started discussions with Pearson Edurite and others.
The 2013 Web Mission to India, which took place earlier this month, saw a cohort of entrepreneurs embark on a week-long trade operation to Bangalore and New Delhi with the aim of opening up their business to the Indian market. Supported by the Technology Strategy Board and UK Trade & Investment (UKTI), and organised by The Long Run Venture and the Co-Sponsorship Agency, the mission established important alliances and consolidated the overall objective of growth and international expansion.
Mission participant Martin Brassell, CEO, Inngot commented: “India is in transition from being the world's outsourcing partner, to a leading global supplier of its own products and services. Soon, it will be differentiating on quality and innovation as well as price. There isn’t yet a depth of specialist expertise in many growth sectors in India, which makes it an exciting market for many emerging UK companies.”
With sectors including software, sustainability, health and education, each of the companies were selected for their potential to offer India’s population transformational products and services, but were in need of making the right connections in a new market.
Having secured a major sales partnership agreement with CMR Design Automation (P) Ltd as a result of the mission, Coveritas CEO Sean Redmond commented: “This mission has been a huge success for us as we were able to meet the right people to help us achieve our overall growth objectives. We are a young three-year old start up and while we have been able to capture the market leaders in the industrial, medical and automotive and electronic systems in the UK, India was a brand new market for us. This Mission was instrumental in providing us with the support we needed to allow us access to the top decision makers.”
Previous missions have played a significant role in helping to secure over £180 million in funding to help some of the UK’s tech start-up success stories and continues to highlight and support the importance of considering international expansion in the early stages of a company.
Sarbjit Bakhshi, Lead Technologist, Technology Strategy Board and one of the Mission leaders commented: “Each of these companies were selected for their growth potential in a new market that is not only fast evolving, but is eager to import business that will contribute towards its own development. This entrepreneur-led trade mission has been an inspiring experience, helping to consolidate UK’s unique relationship with India. As this partnership continues to grow, with several of the companies already planning a return trip to cement the deals, it is essential that we open this opportunity up to not only our market leaders but those companies that have the potential, drive and innovation to achieve success.”
The 2013 Web Mission to India marks the eighth in a series of missions organised by the public, private partnership, designed to help successful early-stage businesses accelerate their growth potential overseas. Following the success of this mission, further partnerships are being explored similar to the Knowledge Transfer Partnership scheme - an initiative that helps businesses improve their competitiveness, productivity and performance by accessing the knowledge, technology and skills that are available through universities, colleges and research organisations. This international version of the programme aims to stimulate innovation through the development of collaborative partnerships, both in the UK and India and will transform the opportunities for the participating organisations.
'Open to Export' http://opentoexport.com/ is a UK Trade & Investment (UKTI) initiative in partnership with hibu plc (formerly Yell Group).
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