India start ups wooed to London
IndiaGB news , Jun 05, 2017
20 Indian tech start-ups have been named as the winners of the India Emerging 20 (IE20) programme.
The initiative was introduced by the Mayor of London Sadiq Khan’s business and promotional agency, London & Partners and is also supported by British bank Santander U.K., accounting firm BDO and immigration specialist Newland Chase. It is on a mission to uncover some of India’s most promising companies looking to expand on the international stage.
“I want to see more businesses from India setting up offices in London and using the city as the platform to compete in the global market,” said Shalini Khemka, founder of entrepreneur networking group E2Exchange and business advisory board member to the Mayor of London.
The 20 selected companies have been invited to London to help facilitate international partnerships, alliances and business opportunities. They will also receive insights into how to take advantage of London’s position as a global centre of trade.
Pratik Dattani UK director of the Federation of Indian Chambers of Commerce and Industry (FICCI), told IndiaGBnews: “The contribution of Indian businesses to the London economy has continued to go up over the last few years, across a range of sectors. IoT, AI, and innovation are areas where there are increasing opportunities between India and London.”
Among the startups is Transcell which is aiming to become a leading enterprise for the discovery and development of targeted anti-cancer treatments. Its objective is to improve survival rates, neurological ailments and autoimmune disorders.
Another company to be selected is Stellapps Technologies which uses the Internet of Things, data analytics and cloud computing to improve milk production, animal insurance and farmer payments. The company acquires the data via sensors that are embedded in milking systems and wearable technologies for animals.
David Slater, director of international trade and investment at London & Partners said that India is one of the highest sources of foreign direct investment to London. “But we think we can go further to strengthen London’s connections with India and Indian businesses, not only in established sectors but in growing sectors, such as tech,” said Mr.Slater, in a statement.