From September 7th, 2020 to September 11th, 2020 the Indo-German Chamber of Commerce (AHK India), on behalf of the Federal Ministry for Economic Affairs and Energy (BMWi), is conducting a market exploration tour for German SMEs and startups active in fintech, mobility, logistics and greentech. The trip is conducted in cooperation with the SBS systems for business solutions GmbH and the German Indian Startup Exchange Program (GINSEP).
The Indian government has been working actively to improve the investment climate for foreign companies. The startup sector has been an important pillar of the economy for Prime Minister Modi. In 2016, a US$1.5 billion fund was established by the Indian government for the promotion of startups, which also included special tax benefits for startups. According to a report by Invest India, the transactional value of the Indian fintech sector rose to US$65 billion in 2019. It is expected that this value will further increase to US$140 billion by 2023. One reason for this is the increasing efforts of financial institutions, startups, the government and venture capitalists to create an environment that enables innovation and promotes cooperation. Increasingly attractive framework conditions and the dynamics of the Indian market based on a young population, a growing economy and the ingenuity of entrepreneurs make India an attractive market for German startups.
The aim of the market exploration tour is to support German startups in entering the Indian market and initiate business linkages. Startups will be supported to initiate business talks with potential business partners and visit companies and institutions during the visit. Furthermore, they will be equipped with general and industry- or sector-specific information by German and local experts and multipliers. At the end of the tour, startups will have the chance to present their products and services to companies, representatives of government institutions, investors and associations. In preparation of the tour, participating companies will also receive an industry-specific market analysis as well as additional individual information on competition and important sectors in demand.
The programme is part of the BMWi export initiative ‘Finding new markets’ and is subject to the de minimis rules. Depending on the size of the company, the companies’ own contribution for participation in the tour is between EUR 500 and EUR 1,000 (net). The closing date for registration is Friday, 29 May 2020 and the number of participants is limited to a maximum of 12 companies. The consideration for the initiative is on a ‘first come, first served’ basis.
For further information and to register visit: https://german-tech.org/aktuelle-projekte/geschaeftsanbahnung-indien-2020-start-ups