According to Rodrigo Olmedo, CEO of uGlobally and project partner: “The first phase of the project aims to establish partnerships with the main innovation actors in Europe and India to identify and develop the startups with the greatest potential for the Indian market.
Having names like Aalto Startup Center on board strengthens our strategy and ensures the programme progress and success. It is very satisfying to gather the most recognized names in the innovation market, with the support of the European Union. The talent and qualities of Aalto Startup Center add a lot of value to us. I am very happy to have them as one of our Ambassadors and very optimistic about the results of this partnership.”
Marika Paakkala from Aalto Startup Center said: “Finland’s entrepreneurs have a lot to offer and also benefit from the programme. We are very pleased with the opportunity to offer these possibilities to our ecosystem and I believe that the exchange of knowledge and experience is valuable for everyone involved. We are proud to put Finland on this road, that brings us closer to one of the most promising countries in the world.
India is the third-largest startup ecosystem in the world and hosts more than 35 unicorns. The country offers exclusive advantages and opportunities in areas such as HealthTech, Cleantech, Mobility and renewable energies, among other verticals with urgent needs and ready to benefit from European startups solutions.
The International Monetary Fund (IMF) projects an impressive 11.5% growth rate for the Indian economy in 2021. This is a confirmation of expectations that the country will become one of the three largest economic powers in the world in a few years. Our goal now is to create awareness and interest among Finland’s startups about the great business opportunities that India has to offer. They will receive internationalisation training and the opportunity to dive deeply into the Indian market with expert support at all stages of their journey – from discovering business opportunities to creating a solid expansion plan.”
Aalto Startup Center:
Aalto Startup Center is a hybrid business accelerator for start-up companies that are less than three years old, with a particular focus on the technological field. The accelerator utilises the interdisciplinary competence offered by Aalto University in design, business and technology as well as the expertise and networks of the university. The participants include companies both from within Aalto and outside of it, and the accelerator also creates business activities from research-based projects. Currently, there are about 40 companies at Aalto Startup Center, 10 of which operate under Esa Bic Finland, which focuses on space technology and is a member of Aalto Startup Center.
About the EU – India Innocenter: The consortium is formed by six complementary organizations with extensive experience and high credibility in programme development in Europe and abroad. The EU India Innocenter provides tailored and personalized assistance and a wide network of contacts, offering business coaching and scaling support for European startups entering the Indian market.
The European partners are Civitta, German Entrepreneurship GmbH, DutchBasecamp and uGlobally and the Indian representatives are the Mantra Foundation, and 91springboard.
The project has received funding from the European Union’s Horizon 2020 coordination and support action programme under grant agreement No. 101004815.