New hub to promote cross-border tech transfer in UK-India startups

Pontaq, a UK registered venture capital fund with a core USP of cross border technology transfer between UK and India, inaugurated on Monday a new UK-India tech hub at the new Royal Albert Dock business district in East London.

The hub is aimed at promoting cross-border technology transfer in early-stage businesses, bilateral investments in the field of financial technology (fintech), artificial intelligence (AI), blockchain, machine learning, emerging technologies and smart cities.

The tech hub was inaugurated by the investment minister Graham Stuart and High Commissioner of India Ruchi Ghanashyam and is being set up as part of a 1.7 billion pounds investment plan and phase-wise development in east London.

Speaking during the inauguration ceremony, Dr Mohan Kaul, chairman of Pontaq, said: "Both India and the UK are among the top five in the world when it comes to tech start-ups and with this new hub, we feel Indian companies can find a lot of traction and space to go global." "Brexit or no Brexit, Indian tech companies will always choose the UK as one of the locations of choice," he added.

Since inception in 2015, the firm has been capitalizing on the massive opportunity of "Innovation Startup Scaleup" through its UK India Innovation Funds (UIIF), whilst creating sustainable economic development through jobs creation in both the economies. The fund invests into both software and hardware-based technology firms across the UK and India in the B2B/ B2B2C space.