NEW DELHI: In a significant development, Nasscom, the apex body for India's USD245 billion technology industry, has entered into a memorandum of understanding (MOU) with MIDAS (Manchester's Inward Investment Agency) and MAG (Manchester Airports Groups). This collaboration aims to foster innovation, investment, and technological exchange between Greater Manchester in the UK and India. As a result of this partnership's success in Canada, Nasscom will establish the first-ever UK launchpad.
The Vice President and Head of Global Trade Development at Nasscom, Shivendra Singh, expressed excitement about expanding their launchpad program in the UK. Singh believes that this initiative will strengthen the trade ties between India and the UK while providing smaller tech companies with the opportunity to lower their initial setup costs and establish credibility in the UK market.
One of the key benefits for small Indian tech companies is the access to 180 days of rent-free office space at Manchester Airport, which is already home to several tech-focused companies. This arrangement aligns perfectly with India's ambitions for its tech ecosystem and Greater Manchester's long-term International Strategy, fostering collaboration and unlocking significant opportunities for trade and investment.
To facilitate a faster go-to-market experience, the companies involved will receive assistance in terms of ecosystem connections, stakeholder introductions, and other support mechanisms. This partnership holds particular significance as Greater Manchester aims to re-establish a direct air route to India, with over 360,000 people from their catchment area traveling to India each year.
Chris Woodroofe, the Managing Director of Manchester Airport, emphasized the importance of collaborations like this one in key growth sectors, as they contribute to strengthening ties with India—a priority market. The Nasscom delegation, comprising 25 Tech SMEs, is currently in the UK and plans to visit various locations, including Manchester, Birmingham, Bristol, and London, to explore the unique value propositions offered by each location.
This MOU between Nasscom, MIDAS, and MAG represents a significant step towards promoting bilateral cooperation, driving innovation, and fostering growth in the technology sector between Greater Manchester and India.
