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20 innovative Indian companies get London Mayor's award

Press Trust of India  |  London 

Twenty of India's fastest-growing companies were today felicitated with the prestigious Mayor's awards for their innovation and high-growth promise.

The Mayor's Emerging 20 (IE20) business programme covers companies from regions across and represent some of country's stand-out ventures specialising in technology, life sciences and business services. They will now receive help from the Mayor's office in setting up or expanding their business in

"has strong cultural and economic ties with India, and businesses make an important contribution to our city," said London

"Following my visit to last year, I see lots of opportunities to strengthen investment between London and cities," the Pakistan-origin said.

The 20 winners were chosen from over 300 applications from some of India's leading business hubs such as Mumbai, and New

The IE20 programme was launched by the of London's official promotional agency, (L&P), in collaboration with and Lalit Hotels, with the aim to identify some of India's most ambitious companies that are considering international expansion.

The winners are given the chance to benefit from discounted rates on a London office and tailored expert advice on marketing, access to finance and local market analysis.

Rajesh Agrawal, London's Indian-origin Deputy Mayor for Business, said: "London is the best city in the world in which to grow a business, so I am delighted that these exciting companies will now be able to explore opportunities to expand here in the capital.

"It is now 16 years since I moved from India to London. This great city welcomed me with open arms and thanks to its entrepreneurial spirit helped me to launch two successful businesses. It is great that these 20 companies will now be able to experience the same welcoming business environment that I enjoyed."

Entering its third year, the IE20 programme has helped a number of previous winners set up or expand in London.

company, RX Prism, opened a 2 million pound innovation hub in London, while Chennai-based analytics firm and have also expanded their operations in the British capital since their involvement with the IE20 initiative.

"The India Emerging 20 programme has opened doors for our business and helped us with our international expansion plans. Through our involvement in the programme, we have gained valuable insight into the UK market and understood how best we can bring future focused to build the workforces of tomorrow," said Arjun Pratap, and 2017 IE20 winner.

Some of the 2018 winners, unveiled at an event in today, include Hyderabad-based wearable tech firm Hug Innovations, Mumbai's music education firm Furtados School of Music, Bengaluru-based marketing tech firm Ittisa Digital Media Services, and Delhi's premier table reservation platform Dineout.

According to L&P data, London is a leading destination for Indian companies looking to expand globally, with India the third-largest investors into the UK capital, behind the and the US.

Further analysis by the agency notes that 2017 was a record year for foreign direct investment (FDI) from India into London, with Indian tech firms accounting for over half of all businesses investing in the UK capital.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 19:25 IST