UK India Business Council (UKIBC), the lead organisation supporting the promotion of bilateral trade
UK & India Business Angels Network set to fly
The event follows Prime Minister Gordon Brown’s announcement in January 2008 of the launch of UKIBC’s UK India Business Angel Network, in partnership with the UK Trade and Investment (UKTI) Global Entrepreneurship Programme.
Highlighting the issues surrounding cross border investment and the challenge faced by Indian companies in setting up in the UK, the workshop brought together the Indian Angel Network and the British Business Angels Association in order to share best practice and to prepare companies for due diligence, thus facilitating a better understanding of entrepreneurs and investors.
The workshop, held at the Taj Palace Hotel in New Delhi featured speakers such as Dragon’s Den panellist Peter Jones; Oliver Woolley, Director of the British Business Angels Association and a Partner at Envestors LLP; Alpesh Patel, UKTI - Global Entrepreneur Programme Dealmaker and Sharon Bamford, Chief Executive of UKIBC. The Indian panellists comprised leading Angel investors including Saurabh Srivastava, Dan Sandhu, Rohit Chand and successful entrepreneurs like Sanjiv Bikhchandani of naukri.com and Ashok Trivedi of Igate. The entrepreneurial companies that have received early stage funding showcased their experiences, including student-led Red Button Design who have designed and commercialised a portable water treatment unit that will be of great benefit in developing countries.
The UK India Business Angel Network is a key project of UKIBC’s Next Generation India programme. Next Generation India seeks to position a 21st Century India and educate the UK market on opportunities emerging from talent, trends and technology in India.
Lord Karan Bilimoria, Chairman of UKIBC said:
“I always say that the best thing about these delegations is they achieve real, tangible results. With this workshop and the UK India Business Angel Network we have seen two perfect examples of what we can achieve together. I started Cobra Beer back in 1989, brewing in Bangalore and exporting to the UK, and I remember so well the challenges that I faced as the owner of a small business working between Indian and Britain. The UK offers so many opportunities for Indian businesses, from finding Angel investment to listing on the London Stock Exchange. I am confident that the UK India Business Angel Network will help the next generation of Indian businesses to thrive, and will help us to continue to break down barriers to cross-border investment.”
Sharon Bamford, CEO of UKIBC said:
“Understanding the process of how investment decisions are made is a key factor in the success of start-ups. It is not through a lack of enterprise, but basic understanding on how investment works that can inhibit emerging companies from reaching their full potential. There simply is not enough information and expertise being shared. This workshop marks the start of a new chapter in information sharing which will benefit the business communities in both countries enormously.”
Oliver Woolley, British Business Angels Association and Envestors said:
“We are delighted to be supporting UKIBC to increase awareness of investment opportunities in India. There are UK investors who will be very interested to find out more about early-stage companies in India looking to setup and grow in the UK. The UKIBC will play an invaluable part in facilitating the process, by providing signposting and information to help companies become 'investment ready'”.
Alpesh Patel, UKTI Global Entrepreneur Prorgramme Dealmaker said:
“This event after creating the UK India Business Angel Network with UKIBC and UKTI Global Entrepreneur Programme has meant we can at last have UK and Indian Angel investors joining forces with high growth young Indian companies looking to establish in the UK with their entrepreneurs and intellectual property. As UKIBC Board Member and UKTI Dealmaker responsible for India this has been one of our great achievements focussed on tangible results. I am seeking high growth IP rich companies establishing global HQ in the UK!”
Saurabh Srivastava, Indian Angel Network said:
“Indian Angel Network has a global outlook and believes that global partnerships encourage world class innovation and emergence of global companies. We are delighted to embrace the first ever partnership of this kind with the British Business Angel Association and salute the foresight of UKIBC in facilitating this.”
If you have any further questions about the programme, or would like to discuss applications for funding, please email Jacob.coates@ukibc.com