Nasscom Announces First UK Launchpad For Indian Tech SMEs The MoU will lead to the establishment of the first nasscom launchpad in the UK, following its success in Canada
By Teena Jose •
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The apex body, 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, following its success in Canada.
"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 ground. The program will help lower initial setting up costs for smaller tech companies and enhance their credibility in the UK market," said Shivendra Singh, vice-president and head – Global Trade Development, nasscom.
According to an official release, 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
Furthermore, the MoU came after Nasscom visited the UK in September 2022 during which several companies showed interest in setting up their businesses in Manchester while seven Indian companies have already set up their operations in the first phase of this pilot project. Additionally, 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.
"It's brilliant to welcome nasscom's first UK launchpad to Greater Manchester. 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 at MIDAS, Greater Manchester's Inward Investment Agency
