Nasscom has signed a memorandum of understanding (MOU) with MIDAS (Manchester’s Inward Investment Agency) and MAG (Manchester Airports Groups) to promote innovation, investment, and technological exchange between Greater Manchester, in the UK, and India. This MoU will lead to the establishment of the first Nasscom launchpad in the UK.
The arrangement will provide small Indian tech companies, interested in setting up their presence in Greater Manchester, to have access to 180 days rent-free office space within offices based at Manchester Airport. The companies will also be assisted with eco-system connections, introductions across stakeholders and other hand-holding mechanisms to aid in \u201cFaster Go-To-Market\u201d.
\u201cWe 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 ground. The program will help lower initial setting up costs for smaller tech companies and enhance their credibility in the UK market.\u201d said Shivendra Singh, vice president and head, Global Trade Development, Nasscom.
The MoU is an outcome of Nasscom’s visit to the UK in September 2022, supported by the Department of Business and Trade, Govt 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 the first phase of this pilot project.
\u201cIt\u2019s brilliant to welcome Nasscom’s first UK launchpad to Greater Manchester. India\u2019s ambitions for its tech ecosystem perfectly align with Greater Manchester\u2019s long-term International Strategy and this new agreement has the potential to unlock significant opportunities for collaboration across trade and investment,\u201d said Joe Manning, managing director at MIDAS, Greater Manchester\u2019s Inward Investment Agency.
The companies participating in the Nasscom launchpad will be housed within 4M, an office suite at Manchester Airport, where CAVU is also based, along with a number of other businesses.
\u201cWe know that our airports are key enablers of trade, investment, tourism and cultural exchange, through the connectivity they provide. There are already more than 360,000 people a year to travel from our catchment area to India and, as we progress towards re-establishing a direct air route, partnerships like this in key growth sectors will make an important contribution to strengthening our ties with what is a priority market,\u201d said Chris Woodroofe, Manchester Airport Managing Director. <\/div>\n