The UK government’s Department for International Trade (DIT), India and the British Deputy High Commission, Bengaluru hosted the 2017-18 TECH Rocketship Awards’ live pitching round today. As per the official statement, shortlisted startups will move on to the Grand Finale, which will be held in Mumbai during next month’s India-UK Createch Summit.
Commenting on the development, British Deputy High Commissioner to Bengaluru Dominic McAllister said, “The TECH Rocketship Awards looks to provide India’s top young entrepreneurs with business advice and support to help them go global through the UK. Where better to run this programme than in Bengaluru, India’s start-up capital and one of the world’s most dynamic cities.”
“I am pleased that 15 entrepreneurs are pitching their ideas today. The competition will enable them to raise their profile with UK and Indian investors, and give them the opportunity to meet with UK venture capitalists, mentors, entrepreneurs and incubators, as well as experts from DIT and leading professional services firms, who will guide them on how to establish a firm footing abroad,” he added.
According to the official release, more than 300 applications were received for the fourth edition of TECH Rocketship Awards, which was announced in October 2017. Of these, 15 of the best tech startups across diverse sectors like cybersecurity and artificial intelligence were selected for the live pitching round.
As part of the event today, these companies have been given the chance to pitch their ideas during a high-pressure pitching round, in front of an audience of entrepreneurs, angel investors, venture capitalists, startups, tech visionaries and a judging panel constituted by the likes of Startup Bootcamp’s Alok Vajpeyi, Ravi Tyagi of SIDBI Ventures, Padmaja Ruparel from the Indian Angel Network (IAN), Srinivas Kollipara of T-Hub India, DMI Finance’s Anmol Nayyar, Karan Mohla of IDG Ventures and T. V. Mohandas Pai, the Chairman of Manipal Global Education.
Speaking at the live pitching event today, Amo Kalar, UK Deputy Trade and Investment Commissioner to India stated, “As we exit the EU, the UK will become an even stronger proposition for India’s brightest tech scale-ups and entrepreneurs. London and the wider UK remain the world’s best place to set up a digital business. I can guarantee the winners will be the very best, and look forward to hearing them pitch in both Bengaluru and Mumbai. We know that mentoring matches money in this space, so I am particularly grateful for our judging panel, all experts and winners in the tech ecosystem, for sharing their time and expertise so freely.”
“The 4th Edition of the Awards marks another year of IAN’s association with DIT. This partnership is a collaboration on the startup bridge between India and the UK to help Indian start-ups grow and go global. IAN has been working closely with DIT and had also invested in the ventures of previous winners. I compliment DIT for this initiative, enabling young entrepreneurs from Tech Startups in India to scale and leverage the UK,” added IAN co-founder and Founding Partner of IAN Fund Padmaja Ruparel.
An Overview Of The TECH Rocketship Awards
Organised by the Department for International Trade (DIT), TECH Rocketship is an India-focussed startup campaign that assists promising new startups in scale up their businesses. Its main aim is to foster technology, innovation and collaboration between startups, universities, and industry leaders both in India and the UK.
The awards, which have been running for three years, have seen endorsement from The Duke and Duchess of Cambridge, British Prime Minister Theresa May and some of biggest names in Indian business.
Talking about the importance of TECH Rocketship in boosting the Indian startup ecosystem, Mohandas Pai said recently, “This is a great initiative to connect the innovative startup systems of the UK and India. Indian startups will get an opportunity to work with UK innovators, venture capitalists and industries and seek entry into UK markets. The future lies in creating ‘living innovative bridges’ globally and the UK-India startup systems can be a role model for others – a great example of deepening UK-India relations!”
The six award categories of 2017-18 TECH Rocketship Awards include fintech, medtech, Internet of Things (IoT), cloud computing and data analytics, cybersecurity and artificial intelligence. These domains, according to the organisers, are some of the areas with the greatest potential in terms of opportunity and demand in the UK and India.
What’s In Store For The Winners?
Out of the 15 pitchers of the 4th TECH Rocketship Awards, the top seven startups will be selected to present their business ideas at the first ever India-UK Createch Summit in Mumbai on February 6, 2018. The final pitch at the summit will witness seven finalists competing for the coveted award.
In addition to seven prize packages, the winners of the challenge will win a trip to the UK as well as a chance to pitch in front of potential investors at the London Tech Week. Furthermore, the shortlisted teams will be provided assistance in business development and partnership with established UK companies like Harper Adams University, Sensor City.
The winners will also get exposure to the UK’s thriving tech ecosystem, financial services and R&D opportunities.
The India-UK Createch Summit 2018 will be a one-day conference in Mumbai, bringing together thought-leaders from business and government for a series of panel sessions and workshops. It is designed to celebrate and inspire the convergence of creativity and technology: Createch.
As per the official statement, the summit will be the centrepiece of a series of events promoting trade between the UK and India in January and February 2018, with creativity and technology to the fore. Over 100 British companies from film, music, immersive technology, healthcare, industrial design and sports will visit India in various trade missions to meet leading Indian businesses to discuss opportunities for collaboration and trade between the countries.
A Look At The Past Winners Of TECH Rocketship Awards
As part of the third edition of TECH Rocketship Awards, held between 29 January-3 February 2017, 10 startups won a trip to the UK out of 10,000 companies evaluated in a multi-city tour. From the 600 companies shortlisted in the first phase, 35 emerged successful in the pre-finals.
Among the winners were video-based talent exchange platform Talocity, BendFlex Research and Development Private Limited, Cashkumar (Venture of Etyacol Technologies Pvt Ltd), Get My Parking, Promethean Energy Pvt. Ltd., QuizWorks, RepUp, Greenlit India Opto Electronics Pvt Ltd, Planet Superheroes, and Paratus Knowledge Ventures.
As an extension of this year’s TECH Rocketship Awards, DIT India also announced the launch of ‘Future TECH Month’ in November 2017. The initiative comprised a month-long series of technology-focused business activities in both countries, taking more than 60 Indian companies in 10 sectors on a tour of business hubs in the UK. The objective was to inspire new partnerships, strengthen tech collaboration and secure business.
The 15 shortlisted startups that battled it out in the TECH Rocketship Awards’ live pitching round were selected by the Department for International Trade (DIT), with cooperation from the Indian Angel Network (IAN) and a number of other delivery partners including Startupbootcamp, T-Hub, TiE Delhi and Deloitte, among others.