UKIBC and UKIBAN organise plenary session for Indian ventures seeking global footprint

Written by Businesswire India | Mumbai | Updated: Feb 27 2009, 22:33pm hrs
The UK India Business Councils UK India Business Angel Network organised angel investment events in Mumbai last week attended by over 100 individuals comprising angel investors and young entrepreneurs, many of whom were seeking investment to grow their business.

At the event, seven young Indian businesses pitched their business plan to angel investors for investment from the UK. The businesses ranged from IT and clean technologies to publishing. All of the pitches had a UK strategy and were seeking capital to finance their global ambitions. The Angels were impressed and seem keen to take the discussions forward with some of them.

They also discussed the issues and challenges faced by both countries in this area and how best UK angels can support Indian entrepreneurs seeking to globalise their technology and media ventures through the UK.

Sharon Bamford, CEO, UKIBC said, The United Kingdom with an extensive network and expertise in bringing innovation to market is the ideal destination for Indian businesses seeking a footprint globally. The angel community in the UK is working closely with their counterparts in India to ensure a softlanding for high potential Indian ventures.

Alpesh Patel, Director and Deal Maker, UKIBC said, Despite the credit crunch, there is an outstanding array of Indian businesses looking to go global. We are sure that the UKIBC and the Dealmaker program will be able to aid them in their global endeavours.

Keeping in mind the current economic scenario, the panel urged Indian businesses seeking angel funding to asses valuation based on market conditions. They also stressed on the importance of execution in a business plan and the need for good housekeeping and compliances.