Periodic Reporting for period 2 - EU-India InnoCenter (EU-India Innovation Center)
Reporting period: 2022-07-01 to 2023-12-31
As one of the fastest-growing economies in the world and the 3rd largest startup ecosystem, India provides a pool of promising collaboration opportunities for the European innovation ecosystem. The EU-India Innovation Center aimed to facilitate the entry of European innovators, startups, and SMEs into the Indian market. Its objective was to establish a sustainable presence for the EU as an innovation frontrunner and foster cross-continental interactions between technology and innovation entities. The project provided tailored and personalised assistance at every stage of their journey to India – from discovering business opportunities to creating a solid expansion plan and finding local customers and partners.
The EU-India Innocenter followed a 4-phase approach based on the companies’ readiness level:
DISCOVER THE MARKET. Intro session to Indian market expansion for European companies.
PREPARE TO EXPAND. A training of 2 sessions to learn what constitutes a market opportunity and what to consider when building an international expansion strategy.
EXPLORE & VALIDATE. A 12-week programme aimed at exploring the Indian market to validate the product with customers and partners and localise the offering to meet local needs.
ENTER & SCALE. A 3-month programme that takes a tailored one-on-one approach to help startups enter and localise their businesses in India, with personalised and continuous support.
To ensure the continuity of the EU-India Innocenter efforts in bolstering cooperation between local technology and innovation structures in India and Europe, a selection of viable service offerings and self-sustainable business models were fine-tuned. A promising sales pipeline for 2024 has been built up, while ongoing dissemination of market knowledge and the Innocenter's offering further support the program's visibility and commercialisation.
The EU-India Innocenter followed a 4-phase approach based on the companies’ readiness level:
DISCOVER THE MARKET. Intro session to Indian market expansion for European companies.
PREPARE TO EXPAND. A training of 2 sessions to learn what constitutes a market opportunity and what to consider when building an international expansion strategy.
EXPLORE & VALIDATE. A 12-week programme aimed at exploring the Indian market to validate the product with customers and partners and localise the offering to meet local needs.
ENTER & SCALE. A 3-month programme that takes a tailored one-on-one approach to help startups enter and localise their businesses in India, with personalised and continuous support.
To ensure the continuity of the EU-India Innocenter efforts in bolstering cooperation between local technology and innovation structures in India and Europe, a selection of viable service offerings and self-sustainable business models were fine-tuned. A promising sales pipeline for 2024 has been built up, while ongoing dissemination of market knowledge and the Innocenter's offering further support the program's visibility and commercialisation.
The main achievements of the EU-India Innocenter:
- The project reached over 1.5 million people in Europe and a potential audience of 450 million people in India, actively contributing to positioning the EU as an innovation and technology leader in India.
- To assist startups in grasping the opportunities within the Indian market, training sessions were conducted for 112 European startups. Participants reported an 85% increase in their understanding of the Indian market.
- 63 companies were provided guided market validation services to verify product potential in the Indian market and localise product offerings. Through 320+ matches with Indian stakeholders, companies established valuable business connections, launched pilot projects, formed partnerships, and recruited local representatives, strengthening European presence in India's innovation landscape.
- Moreover, 22 leaders in the European innovation ecosystem delved into the Indian innovation landscape, forging strategic partnerships through 1360 connections between European entities and Indian stakeholders.
- The visibility and prestige of European innovation in India were amplified through three "Blue Carpet Night" events in Bangalore and Hyderabad, attracting 300+ participants and substantial media coverage, influencing the broader societal perception of European innovation in India.
- 26 startups were provided guided market access services to identify the first local customers and partners in the Indian market. 100 connections with Indian stakeholders were established, alongside 200 hours for tailored mentorship and support, helping startups localise their business models.
- 13 companies successfully entered the Indian market by acquiring their first clients and/or distribution partners, conducting pilots, and establishing a local presence.
The EU-India Innocenter has built up several exploitable assets that are being used to disseminate and commercialise the Center’s experience among a wide-spread network of stakeholders and startups:
Starter Pack | An on-demand tool, consisting of 3 steps: the recorded session “Internationalisation Crash Course”, the Internationalisation Readiness Questionnaire, and an invitation for a Free Session with an Internationalisation expert;
“Introduction to the Indian Market" | 12 videos featuring Indian market introduction themes: Value propositions, Size and growth, Sales, Product localisation, Pricing, Culture.
India Market Entry Guidebook | Condensed India Market Experience was collected in the project, covering market observations, startup readiness assessment, success cases, challenges, and opportunities.
Blogposts | 16 articles with an overview of the main aspects of India's economic landscape
Policy Recommendations | A guide for policymakers to enhance EU-India economic collaboration, focusing on aiding European startups in navigating the challenges and thriving in the Indian market.
- The project reached over 1.5 million people in Europe and a potential audience of 450 million people in India, actively contributing to positioning the EU as an innovation and technology leader in India.
- To assist startups in grasping the opportunities within the Indian market, training sessions were conducted for 112 European startups. Participants reported an 85% increase in their understanding of the Indian market.
- 63 companies were provided guided market validation services to verify product potential in the Indian market and localise product offerings. Through 320+ matches with Indian stakeholders, companies established valuable business connections, launched pilot projects, formed partnerships, and recruited local representatives, strengthening European presence in India's innovation landscape.
- Moreover, 22 leaders in the European innovation ecosystem delved into the Indian innovation landscape, forging strategic partnerships through 1360 connections between European entities and Indian stakeholders.
- The visibility and prestige of European innovation in India were amplified through three "Blue Carpet Night" events in Bangalore and Hyderabad, attracting 300+ participants and substantial media coverage, influencing the broader societal perception of European innovation in India.
- 26 startups were provided guided market access services to identify the first local customers and partners in the Indian market. 100 connections with Indian stakeholders were established, alongside 200 hours for tailored mentorship and support, helping startups localise their business models.
- 13 companies successfully entered the Indian market by acquiring their first clients and/or distribution partners, conducting pilots, and establishing a local presence.
The EU-India Innocenter has built up several exploitable assets that are being used to disseminate and commercialise the Center’s experience among a wide-spread network of stakeholders and startups:
Starter Pack | An on-demand tool, consisting of 3 steps: the recorded session “Internationalisation Crash Course”, the Internationalisation Readiness Questionnaire, and an invitation for a Free Session with an Internationalisation expert;
“Introduction to the Indian Market" | 12 videos featuring Indian market introduction themes: Value propositions, Size and growth, Sales, Product localisation, Pricing, Culture.
India Market Entry Guidebook | Condensed India Market Experience was collected in the project, covering market observations, startup readiness assessment, success cases, challenges, and opportunities.
Blogposts | 16 articles with an overview of the main aspects of India's economic landscape
Policy Recommendations | A guide for policymakers to enhance EU-India economic collaboration, focusing on aiding European startups in navigating the challenges and thriving in the Indian market.
The EU-India Innocenter has strengthened collaboration between European innovators and Indian stakeholders, fostering a network across two continents and facilitating market access for European innovators in India and vice-versus. The project's progress beyond the state-of-art and socio-economic impact can be summarised as follows:
Awareness raising: The project reached over 1.5 million people in Europe while promoting Indian market opportunities. Among participants joining the introductory phases of the project, market knowledge about the Indian market increased by 85%
Connecting ecosystems: The project facilitated connections between European and Indian innovation ecosystems through 1,360 connections established by 22 European representatives in the Ecosystem Builders immersion tour and 320+ direct matches between programme startups and Indian stakeholders. These connections and matches included industry experts, government officials, potential customers, and other startups, laying the groundwork for long-term partnerships, knowledge exchange and technology transfer.
Establishing the EU as an innovation leader: The project reached a potential audience of 450 million people in India, presenting European innovations. The visibility and prestige of European innovation in India were amplified through three "Blue Carpet Night" events in India, attracting 300+ participants and substantial media coverage, influencing the broader societal perception of European innovation in India.
Facilitating market entry: 150+ startups have participated in the project, grasping the opportunities within the Indian market, validating their business models and forming business connections. 13 startups have successfully entered the Indian market, by acquiring their first clients, conducting pilots, and establishing a local presence. The success cases pave the way for future job growth, particularly in India, as startups grow and expand. 73% of participants claimed an overall positive impact on their company, due to transferable activities, such as internationalisation strategy, value proposition tailoring, mentorship, sales process development, etc.
Technology transfer: The project prioritises European innovators offering high-impact soil health, sustainability, mobility, and tech solutions for long-term collaboration with India.
Sustainability: Establishing self-sustaining models and a promising sales pipeline ensures the program's longevity beyond the project's lifespan.
Awareness raising: The project reached over 1.5 million people in Europe while promoting Indian market opportunities. Among participants joining the introductory phases of the project, market knowledge about the Indian market increased by 85%
Connecting ecosystems: The project facilitated connections between European and Indian innovation ecosystems through 1,360 connections established by 22 European representatives in the Ecosystem Builders immersion tour and 320+ direct matches between programme startups and Indian stakeholders. These connections and matches included industry experts, government officials, potential customers, and other startups, laying the groundwork for long-term partnerships, knowledge exchange and technology transfer.
Establishing the EU as an innovation leader: The project reached a potential audience of 450 million people in India, presenting European innovations. The visibility and prestige of European innovation in India were amplified through three "Blue Carpet Night" events in India, attracting 300+ participants and substantial media coverage, influencing the broader societal perception of European innovation in India.
Facilitating market entry: 150+ startups have participated in the project, grasping the opportunities within the Indian market, validating their business models and forming business connections. 13 startups have successfully entered the Indian market, by acquiring their first clients, conducting pilots, and establishing a local presence. The success cases pave the way for future job growth, particularly in India, as startups grow and expand. 73% of participants claimed an overall positive impact on their company, due to transferable activities, such as internationalisation strategy, value proposition tailoring, mentorship, sales process development, etc.
Technology transfer: The project prioritises European innovators offering high-impact soil health, sustainability, mobility, and tech solutions for long-term collaboration with India.
Sustainability: Establishing self-sustaining models and a promising sales pipeline ensures the program's longevity beyond the project's lifespan.