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, the UK, and India.
This MoU will lead to the establishment of the first Nasscom launchpad in the UK, following Canada. The arrangement will provide small Indian tech companies, interested in setting up their presence in Greater Manchester, 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.
The companies will also be assisted with eco-system connects, introductions across stakeholders, and other hand-holding mechanisms to aid in “Faster Go-To-Market”. Nasscom will actively promote the proposition among its membership base.
“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 the ground. The programme will help lower initial setting up costs for smaller tech companies and enhance their credibility in the UK market.” said Shivendra Singh, Vice President & 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.
“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