As many as 20 Indian start-ups, covering areas like travel and dairy tech, are participating in the ongoing ‘London Tech Week’ to explore plans of international expansion. The companies cover areas of stem cell technology to science for children, are part of the India Emerging Twenty (IE20) programme launched by London Mayor Sadiq Khan’s business and promotional agency, London & Partners (L&P). The IE20 provides a global platform to the top 20 upcoming global Indian organisations, along with offering them worldwide visibility.
“The IE20 initiative is a wonderful way of highlighting the amazing entrepreneurial talent that exists in India, one of the fastest-growing economies in the world. India’s young and dynamic entrepreneurial growth is the driving force behind India’s growth as a country. IE20 are shining champions of India’s growth story,” said Cobra Beer founder Lord Karan Bilimoria, who welcomed the companies at the House of Lords this week.
The companies have come to the UK to attend the launch of ‘London Tech Week’, meet tech entrepreneurs and business leaders in London, and also take part in a skilling up session with Lord Bilimoria and entrepreneur’s champion Shalini Khemka. “The IE20 is proof that London’s relationship with India continues to grow and it is fantastic to welcome so many of its fastest-growing companies to our great city.
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As someone who arrived from India 15 years ago with just 200 pounds in my pocket, before setting up my own successful companies, I know from first-hand experience that London is the best place in the world to do business,” Shalini Khemka said. “This is an excellent opportunity for the winners, India’s most innovative start-ups, to champion Indian entrepreneurship in the UK,” she said.
According to L&P, since 2005 there has been a 125 per cent increase in Indian companies across all business sectors investing in London, with a 117 per cent increase in tech companies investing in the city, which accounts for 45 per cent of all projects. Major tech investments in London from India in the recent years include software testing service Cigniti Technologies, customer support company Kayako and many others. This year 345 Indian companies entered the IE20 programme, over 100 more than the previous year.
From last year’s cohort, two companies have already set up offices in London – LatentView Analytics and Curadev Pharma, bringing nearly 100 new jobs in the initial three years . “IE20 helped us with recognition and credibility among prospective clients,” Vijay Ganesan, Business Development Manager at LatentView Analytics, said IE20 is an initiative aimed at high growth, knowledge- based companies formed after 2000. The applications are reviewed to create a shortlist of 50 of the most high-performing companies with the ability for global growth.