Nasscom announces UK launchpad to help Indian tech SMEs grow

Indian technology industry’s trade body National Association of Software and Services Companies (Nasscom) has entered into a memorandum of understanding (MoU) with MIDAS (Manchester’s Inward Investment Agency) and MAG (Manchester Airports Group). The aim of this collaboration is to allow Indian technology SMEs to foray into the UK market and grow their business.

MAG is the UK’s largest group of airports, operating Manchester, London Stansted and East Midlands Airport. It also has a digital travel services business, called CAVU.

Under the MoU, the first Nasscom ‘launchpad’ (as it is called) in the UK will be established in Greater Manchester similar to its first launchpad programme in Canada set up in March this year to help Indian tech firms expand their businesses and trade in the North American market.

The launchpad will enable SMEs, interested in setting up their presence in the region, to have access to 180 days of rent-free office space within offices based at Manchester Airport where a number of tech-focused companies are already based, said a statement on the MoU, the company said in a statement.

“We are thrilled to expand our launchpad program in the UK. I am confident that this will provide greater momentum to the Indo-UK trade ties. Especially when the two countries are at an advanced stage of FTA negotiations, this is a positive demonstration to facilitate trade ties on the ground,” said Shivendra Singh, vice president and head – global trade development, Nasscom in the statement.

“The program will help lower initial setting up cost for smaller tech companies and enhance their credibility in the UK market,” he said.

SMEs will also be supported with “ecosystem connects, introductions across stakeholders and other hand-holding mechanisms to aid in “faster go-to-market”. Nasscom will actively promote the proposition among its membership base”, it added.

The MoU is an outcome of Nasscom’s visit to UK in September 2022, supported by department of business and trade, Government of UK, when several companies showed interest in setting up their businesses in Manchester. About seven Indian companies will be setting up their operations in 1st phase of this pilot project.

“India’s ambitions for its tech ecosystem perfectly align with Greater Manchester’s long-term international strategy and this new agreement has the potential to unlock significant opportunities for collaboration across trade and investment,” said Joe Manning, Managing Director, MIDAS.

The announcement comes when India Global Forum’s (IGF) fifth annual UK-India Week is being held until June 30 and focuses on improving the two country’s bilateral relationship. On Wednesday, British Prime Minister Rishi Sunak reiterated his commitment to a "truly ambitious" free trade agreement (FTA) with India hosting a special reception to celebrate India Global Forum's UK-India Week 2023 at 10 Downing Street.

The Nasscom delegation currently in the UK comprises 25 Tech SMEs and is scheduled to visit locations such as Manchester, Birmingham and Bristol, other than London, to understand their unique value proposition each location offers.

The bilateral trade relationship between India and Great Britain was reportedly pegged at £34 billion ($42.9 billion) in 2022, up by £10 billion ($12.6 billion) from the previous year.