Brit entrepreneurs can expect access to India’s $100bn tech industry.
UK entrepreneurs can gain access to the $100bn Indian technology industry after startup co-location firm TechHub opened a new office in Bangalore today.
TechHub hopes its new outpost will provide a route for European companies to expand into the Indian market as well as use its resources.
Chief executive Elizabeth Varley told CBR: "Every European business should have a position on India. The opportunities in an economy in a lot of ways untapped by European businesses are endless.
"In India, the large numbers of engineering graduates (80,000 a year in Bangalore alone), make it much easier than in London to source developers and engineers to grow startup teams quickly."
European entrepreneurs are already taking advantage of the new office, Varley added, with event ticketing platform TIGMUS flying out for the opening.
Varley said she sees cyber security as a growing area in India, as well as Internet of Things-related companies, though says until recent successes like Flipkart, Bangalore’s focus has been on producing B2B startups.
Additionally, she believes the country, now TechHub’s first non-European base, leads innovation in education and healthcare technology.
The Bangalore premises become TechHub’s eighth office, opened today to mark the fourth anniversary of its first London office being opened.
The firm partnered with BT last October to launch Infinity Lab, a programme offering six months’ support, including R&D, engineering and legal expertise, to entrepreneurs whose winning ideas would be promoted alongside BT’s own.