Jul 05, 2021 | AS Team
European-Indian community of ecosystem builders help nine select startups to create a strategic network in the Indian market while strengthening EU India Trade relations and spurring innovation-
Following its successful launch on 18 February 2021, the EU-India InnoCenter programme, an initiative supported by the European Union’s research and innovation framework programme Horizon 2020, is starting its first ‘Explore & Validate Programme’.
The EU, one of India's largest trading partners and foreign investors, aims to bring startups from Europe and India together through this initiative. This project will help spur collaboration and innovation and has the potential to channelize more European investments into India in the long run.
Over the lifetime of 3 years of the InnoCenter, 8 such ‘Explore & Validate Programmes’ will be held, allowing 64+ European startups to successfully introduce their innovative technologies in the Indian market. Over 100 European startups across sectors such as sustainability, health, and life sciences, amongst others, have already enrolled with the InnoCenter since its inception, which is an overwhelming interest from the European innovation community. As part of the programme, nine startups have been shortlisted based on stage of development, motivation and capacity to enter the Indian market and compatibility with InnoCenter’s areas of focus.
The programme is focused on enabling European startups to explore the Indian market, validate their offering, learn about sector-specific opportunities, regulations and best practices, and collaborate with key Indian stakeholders. While the startups have geared up through a series of courses, workshops and mentor guidance programmes on the know-hows of the Indian market, the InnoCenter is hosting a flagship event called Blue Carpet Night - Showcasing European Innovation - to converge select Indian industry and ecosystem players with the European startups, providing them a strategic networking platform to showcase their products, technologies and business ideas.
The consortium is formed by 6 complementary companies with extensive experience and high credibility in programme development in Europe and abroad. The Indian representatives are Mantra Launchspace and 91springboard and the European partners are Civitta, German Entrepreneurship GmbH, DutchBasecamp and uGlobally. The project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 1010004815.