Twenty of India’s fastest-growing companies have been felicitated with the prestigious London mayor’s awards for their innovation and high-growth promise.
The Mayor’s India Emerging 20 (IE20) business programme covers companies from regions across India and represent some of country’s stand-out ventures specialising in technology, life sciences and business services. They will now receive help from the mayor’s office in setting up or expanding their business in London.
“London has strong cultural and economic ties with India, and Indian businesses make an important contribution to our city,” said London mayor Sadiq Khan.
“Following my visit to India last year, I see lots of opportunities to strengthen investment between London and Indian cities,” the mayor said.
The 20 winners were chosen from over 300 applications from some of India’s leading business hubs such as Mumbai, Bengaluru and New Delhi.
The IE20 programme was launched by the Mayor of London’s official promotional agency, London & Partners (L&P), in collaboration with BDO and Lalit Hotels, with the aim to identify some of India’s most ambitious companies that are considering international expansion.
The winners are given the chance to benefit from discounted rates on a London office and tailored expert advice on marketing, access to finance and local market analysis.
Rajesh Agrawal, London’s deputy mayor for Business, said: “London is the best city in the world in which to grow a business, so I am delighted that these exciting companies will now be able to explore opportunities to expand here in the capital.
“It is now 16 years since I moved from India to London. This great city welcomed me with open arms and thanks to its entrepreneurial spirit helped me to launch two successful businesses. It is great news that these 20 companies will now be able to experience the same welcoming business environment that I enjoyed.”
Entering its third year, the IE20 programme has helped a number of previous winners set up or expand in London.
Indian medical technology company, RX Prism, opened a £2 million innovation hub in London, while Chennai-based analytics firm LatentView and Curadev Pharma have also expanded their operations in the British capital since their involvement with the IE20 initiative.
“The India Emerging 20 programme has opened doors for our business and helped us with our international expansion plans. Through our involvement in the programme, we have gained valuable insight into the UK market and understood how best we can bring future focused talent solutions to build the workforces of tomorrow,” said Arjun Pratap, Founder & CEO EdGE Networks and 2017 IE20 winner.
Some of the 2018 winners, unveiled at an event in Bengaluru, include Hyderabad-based wearable tech firm Hug Innovations, Mumbai’s music education firm Furtados School of Music, Bengaluru-based marketing tech firm Ittisa Digital Media Services, and Delhi’s premier table reservation platform Dineout.
According to L&P data, London is a leading destination for Indian companies looking to expand globally, with India the third-largest investors into the UK capital, behind the China and the US.
Further analysis by the agency notes that 2017 was a record year for foreign direct investment (FDI) from India into London, with Indian tech firms accounting for over half of all businesses investing in the UK capital.