European tech businesses to access $100B Indian tech industry through new TechHub
TechHub, Europe’s largest tech startup community, headquartered in London, has launched its latest location in Bangalore, India. This first Indian hub will be the eighth global addition to the TechHub network and its first Eastern location. The new venture will serve as a gateway to India’s predicted US$100B technology industry for businesses large and small.
TechHub, founded four years ago by serial entrepreneur, Elizabeth Varley and TechCrunch’s European Editor, Mike Butcher, aims to drive entrepreneurialism throughout the world. TechHub provides not only a physical space for like-minded individuals to collaborate and work, but also a platform for larger enterprises to explore emerging trends. The company estimates there are 4000 technology product startups in Bangalore alone, approximately the same as in London. Through access to those companies via programmes like the ones TechHub runs with existing corporate partners including BT and Barclays, corporates can integrate innovation into their own culture to create a competitive advantage.
The Indian technology product economy currently remains a hugely untapped market, particularly for European companies keen to expand into the region. With the launch of TechHub Bangalore, companies will be able to access the market more effectively, including next year’s predicted 360 million web users, and tapping into local talent, including the 80,000 computer science graduates produced every year in Bangalore alone.
“Part of our mission is to bridge the physical distance between each TechHub and give our members – from the entrepreneur stage through to larger corporations – access to the brightest minds and ideas in the field,” said Elizabeth Varley, co-founder and CEO, TechHub. “If you’re not taking advantage of the Indian market, you’re missing out on one of the largest emerging technology markets in the world and the incredible R&D experience and innovation it affords. Every company should have a position on India.”
Since its launch, TechHub has welcomed 100,000 people through its doors, with over 1,000 members in London alone, providing its members with the tools to transition through each business stage, from funding to purchase. Its members have raised over US$250million in funding over the past 18 months, with a number of successful member sales, most recently Divide which exited to Google for an undisclosed amount.
“Having TechHub in Bangalore would bring greater excitement to a very charged startup ecosystem and create a seamless flow of startups between London and Bangalore. Yeh Dil Mange More (my heart asks for more)” said Mohandas Pai, former CFO of Infosys and the first TechHub Bangalore Member.
TechHub Bangalore will be spearheaded by Stewart Noakes and Manoj Chandrappa alongside TechHub’s international development team James Knight and Andrew Tibbitts. Noakes and Chandrappa have run businesses in the US, UK and India over the past decade and recently sold their UK/India based business to software testing company Qualitest. TechHub Bangalore will officially launch on July 9th 2014, exactly four years after its original launch in London, with other sites in India planned over the next 18 months.
Notes to editors
About TechHub: TechHub was founded in 2010 by Elizabeth Varley and Mike Butcher, and is a growing community of thousands of tech entrepreneurs and a network of spaces for startups. It offers flexible workspace facilities, events, workshops, advice sessions, contacts, PR and press opportunities and an important tech industry network.
TechHub London has two sites in Shoreditch’s ‘Silicon Roundabout’, the latest opened this year by London Mayor Boris Johnson, and another is due to open on the Queen Elizabeth Olympic Park in 2015. TechHub has additional UK sites in Manchester and Swansea, plus Riga in Latvia and Bucharest in Romania.
Further new TechHub cities have been announced in Berlin, Germany and more will be announced this year as part of the company’s global expansion.
TechHub in the UK is partners with Google for Entrepreneurs, BT, Ordnance Survey & Barclays, and in India with the UK India Business Council with further Indian partners to be announced.
$100B Product Economy by Product Think Tank ISpirit – http://www.financialexpress.com/news/india-can-be-100-bn-software-product-industry-by-2025-ispirt/1223186