Awards like TECH Rocketships strengthen India-UK relationship, startups play a big role
, ET Online|
Updated: Oct 24, 2017, 12.55 PM IST
TECH Rocketships awards look to connect India's fast-rising tech stars with the UK's world-leading growth ecosystem of VC's, advisors, customers and support networks. In its fourth edition, Amo Kalar, UK Deputy Trade and Investment Commissioner to India, talks about why TECH Rocketships is bigger and better this year and what it means for Indian startups and India-UK relationship.
Economic Times (ET): In its fourth year, what does Tech Rocketship Awards aim to achieve this year?
Amo Kalar (AK): TECH Rocketships requires no real introduction; it has been running for four years now, and last year- with a Royal launch and PM closing it - we took it to another level. So the stakes are even higher this year. But, the fourth edition, which will launch on October 27 in New Delhi, will be better than ever.
Like previous years our judges will be the very best of India's entrepreneurs and thought-leaders in the space; so think Kiran Muzumdar Shaw, Arvind Gupta, Mohandas Pai and Saurabh Srivastava amongst many others, including the British High Commissioner Sir Dominic Asquith
They are all endorsing TECH Rocketship because they see its potential and brand value as a competition which has gradually established itself as a happy hunting ground for the best and brightest Indian entrepreneurs. And following some strong support from the Department for International Trade (DIT) in the UK and many other partners, we will be opening the awards up to high-growth tech companies in sectors where the UK has natural strengths, but crucially those with real potential to land and run successful businesses globally, especially in the UK.
We all know it is the world's best place to establish and grow a technology business. So whilst we will continue to support last year's stars like Project Mudra - amazingly founded by engineering students in their university lab and now funded by Anand Mahindra and others thanks to TECH Rocketship - this year we are looking for Indian scale-ups to become much more involved in the awards..
ET: What are the sectors in focus this year and has this changed since starting the award?
AK: The UK's technology sector is larger than the rest of Europe combined and it has been one of the fastest growing sectors in the UK over the last decade. Technology plays a vital enabling role across a range of sectors where the UK has strengths: automotive/electric vehicles, Fintech, life sciences, clinical trials, agritech and logistics to name a (very) few.
This year we have matched Rocketship's focus categories to match HMG/ DIT's technology investment priorities. It's brilliant that these match those where India has both technology demands and inward investment potential. So think fintech, medtech, ioT, cloud computing & data analytics, cyber security and artificial intelligence and you are in the right place. These are the UK's fastest growing sectors, and the prizes for winning have evolved to include partnerships with UK companies in these sectors.
The UK offers an outstanding environment for global tech companies with a strong startup culture bolstered by tech clusters all over the UK. In areas like Cyber - the UK is investing £14.5 billion in its cyber security defences, which will make the UK the best place to start and grow a digital business and the safest place to be online.
ET: How will the winners for 2017 be determined and what's in it for the winners?
AK: The awards have always seen the best of entrants from across India. Last year over 1000 startups applied to be one of the ten winners. This year again we have the support from the Indian Angel Network - the leading tech start-up support organisation globally. We are very excited to have such a highly regarded panel supporting us to select the best this year.
After the launch in Delhi, which will see a live pitching session with the judges, followed by another in Bengaluru (Kiran Mazumdar Shaw as a panellist) and ending with the grand finale in Mumbai in February. Again there I can promise some star-due for our winners!
This year the stakes for us are much higher, scale-ups are busy growing their companies and accessing new opportunities. So we have had to work even harder to grab their attention and get the UK message across. This is why the prize has also developed - winners will get the chance to pitch to UK VCs during the world-renowned London Tech Week when they visit the UK, get into partnerships with established UK leaders and immerse themselves in the R&D. They would also get a chance to spend some quality time with companies across UK in similar sectors where various synergies from tech to skill exchange will be possible.
For more details please check: https://www.events.trade.gov.uk/tech-rocketship-awards-2017-18-
ET: How have previous year's winners benefited from the award?
AK: TECH Rocketship Awards has been transformational for previous winners. Get My Parking received £0.9 million investment from Indian Angel Network, and are in the process of negotiating a business deal with a major European parking operator. As part of this, the UK will be one of the top countries where they will deploy their technology. Project Mudra, the 2015-16 winners had the opportunity to teach Braille to the Duke and Duchess of Cambridge during the Tech Summit, and they have received angel investment from none other than Anand Mahindra. Being an Indian startup trying to expand to the UK market, TECH Rocketship helped them build new connections in the UK, especially London and Bristol where they are attracting investors and customers.
Another winner Rep UP received funding from IAN and are currently targeting a strong hotel client base in the UK. Rep UP have now invested in the UK, having registered a company and developed a plan to start operations by next year. TECH Rocketship Awards winner Talocity, of video interview fame is in conversation with 12 UK based companies offering them their services, having pitched to Emma Sinclair in her airport cab back from the Tech Summit. They have already developed a back-office team for UK entry, which will begin with a UK marketing office by next financial year.
Please speak to our winners rather than boring old me - they are its biggest fans! Rocketship helped them receive support in terms of mentoring, networking and crucially the access to capital that has made them so successful as UK investors. Remember, Wipro, HCL and Tata had to start somewhere.
ET: Why are such programmes important for India- UK trade/relationship?
AK: India needs a million jobs a month for its skilled, dedicated and brightest-of-the bright graduates. PM Modi, through 'Startup India', sees entrepreneurship as part of the solution, and the UK is right alongside. Through TECH Rocketship, we have enabled India's top young entrepreneurs to raise their profile with UK and Indian investors, incubators and business hubs. As we exit the EU, through competitions such as ours, and the upcoming India-UK Future Tech Month, we will hold our top spot as Europe's number one FDI destination.
Last year India safeguarded more jobs in the UK than even the US. The UK has provided an excellent platform for Indian companies to grow their businesses, with the very highest quality financial and professional services, a world beating technology sector and unrivalled ease of doing business. None of that has changed; Indian investors continue their strong run in the UK as its fourth largest investors, with tech and telecommunications sectors accounting for 31% of Indian investments.
We see the awards strengthening this relationship and also exposing Indian companies to the benefits of globalising via the UK. The future pipeline of success, if we may.
Economic Times (ET): In its fourth year, what does Tech Rocketship Awards aim to achieve this year?
Amo Kalar (AK): TECH Rocketships requires no real introduction; it has been running for four years now, and last year- with a Royal launch and PM closing it - we took it to another level. So the stakes are even higher this year. But, the fourth edition, which will launch on October 27 in New Delhi, will be better than ever.
Like previous years our judges will be the very best of India's entrepreneurs and thought-leaders in the space; so think Kiran Muzumdar Shaw, Arvind Gupta, Mohandas Pai and Saurabh Srivastava amongst many others, including the British High Commissioner Sir Dominic Asquith
They are all endorsing TECH Rocketship because they see its potential and brand value as a competition which has gradually established itself as a happy hunting ground for the best and brightest Indian entrepreneurs. And following some strong support from the Department for International Trade (DIT) in the UK and many other partners, we will be opening the awards up to high-growth tech companies in sectors where the UK has natural strengths, but crucially those with real potential to land and run successful businesses globally, especially in the UK.
We all know it is the world's best place to establish and grow a technology business. So whilst we will continue to support last year's stars like Project Mudra - amazingly founded by engineering students in their university lab and now funded by Anand Mahindra and others thanks to TECH Rocketship - this year we are looking for Indian scale-ups to become much more involved in the awards..
ET: What are the sectors in focus this year and has this changed since starting the award?
AK: The UK's technology sector is larger than the rest of Europe combined and it has been one of the fastest growing sectors in the UK over the last decade. Technology plays a vital enabling role across a range of sectors where the UK has strengths: automotive/electric vehicles, Fintech, life sciences, clinical trials, agritech and logistics to name a (very) few.
This year we have matched Rocketship's focus categories to match HMG/ DIT's technology investment priorities. It's brilliant that these match those where India has both technology demands and inward investment potential. So think fintech, medtech, ioT, cloud computing & data analytics, cyber security and artificial intelligence and you are in the right place. These are the UK's fastest growing sectors, and the prizes for winning have evolved to include partnerships with UK companies in these sectors.
The UK offers an outstanding environment for global tech companies with a strong startup culture bolstered by tech clusters all over the UK. In areas like Cyber - the UK is investing £14.5 billion in its cyber security defences, which will make the UK the best place to start and grow a digital business and the safest place to be online.
ET: How will the winners for 2017 be determined and what's in it for the winners?
AK: The awards have always seen the best of entrants from across India. Last year over 1000 startups applied to be one of the ten winners. This year again we have the support from the Indian Angel Network - the leading tech start-up support organisation globally. We are very excited to have such a highly regarded panel supporting us to select the best this year.
After the launch in Delhi, which will see a live pitching session with the judges, followed by another in Bengaluru (Kiran Mazumdar Shaw as a panellist) and ending with the grand finale in Mumbai in February. Again there I can promise some star-due for our winners!
This year the stakes for us are much higher, scale-ups are busy growing their companies and accessing new opportunities. So we have had to work even harder to grab their attention and get the UK message across. This is why the prize has also developed - winners will get the chance to pitch to UK VCs during the world-renowned London Tech Week when they visit the UK, get into partnerships with established UK leaders and immerse themselves in the R&D. They would also get a chance to spend some quality time with companies across UK in similar sectors where various synergies from tech to skill exchange will be possible.
For more details please check: https://www.events.trade.gov.uk/tech-rocketship-awards-2017-18-
ET: How have previous year's winners benefited from the award?
AK: TECH Rocketship Awards has been transformational for previous winners. Get My Parking received £0.9 million investment from Indian Angel Network, and are in the process of negotiating a business deal with a major European parking operator. As part of this, the UK will be one of the top countries where they will deploy their technology. Project Mudra, the 2015-16 winners had the opportunity to teach Braille to the Duke and Duchess of Cambridge during the Tech Summit, and they have received angel investment from none other than Anand Mahindra. Being an Indian startup trying to expand to the UK market, TECH Rocketship helped them build new connections in the UK, especially London and Bristol where they are attracting investors and customers.
Another winner Rep UP received funding from IAN and are currently targeting a strong hotel client base in the UK. Rep UP have now invested in the UK, having registered a company and developed a plan to start operations by next year. TECH Rocketship Awards winner Talocity, of video interview fame is in conversation with 12 UK based companies offering them their services, having pitched to Emma Sinclair in her airport cab back from the Tech Summit. They have already developed a back-office team for UK entry, which will begin with a UK marketing office by next financial year.
Please speak to our winners rather than boring old me - they are its biggest fans! Rocketship helped them receive support in terms of mentoring, networking and crucially the access to capital that has made them so successful as UK investors. Remember, Wipro, HCL and Tata had to start somewhere.
ET: Why are such programmes important for India- UK trade/relationship?
AK: India needs a million jobs a month for its skilled, dedicated and brightest-of-the bright graduates. PM Modi, through 'Startup India', sees entrepreneurship as part of the solution, and the UK is right alongside. Through TECH Rocketship, we have enabled India's top young entrepreneurs to raise their profile with UK and Indian investors, incubators and business hubs. As we exit the EU, through competitions such as ours, and the upcoming India-UK Future Tech Month, we will hold our top spot as Europe's number one FDI destination.
Last year India safeguarded more jobs in the UK than even the US. The UK has provided an excellent platform for Indian companies to grow their businesses, with the very highest quality financial and professional services, a world beating technology sector and unrivalled ease of doing business. None of that has changed; Indian investors continue their strong run in the UK as its fourth largest investors, with tech and telecommunications sectors accounting for 31% of Indian investments.
We see the awards strengthening this relationship and also exposing Indian companies to the benefits of globalising via the UK. The future pipeline of success, if we may.
