Category — Market Entry

McLaren Partners with India’s Wipro

Surrey, U.K.-based McLaren Technology Group signed a multi-year contract with IT major  Bangalore-based Wipro Limited to help drive digitization across its businesses. Wipro will assist the sports car maker with achieving its recently defined IT strategy, focusing on providing next-generation differentiated IT services to its business divisions with an emphasis on agility and improved reliability.

McLaren Technology Group Logo

Craig Charlton, CIO, McLaren Technology Group said, “We are passionate about delivering high performance digital solutions underpinned by robust SLAs across McLaren. Wipro, with its deep domain expertise and vast application services portfolio, will help us achieve excellence as well as drive innovation in artificial intelligence.”

The Financial Express reports that N. S. Bala, president (Manufacturing & Technology), Wipro, added, “Digitization is a great opportunity for renowned brands like McLaren to re-imagine and redesign their products and services from their customer’s perspective. We are delighted to partner with McLaren Technology Group to bring this strategic initiative to life, enabling organization-wide disruptive innovation.”

September 17, 2017   No Comments

Worldwide Entrepreneur Network Techstars Enters India

Boulder, Colorado-based Techstars raised startup funding and helps launch businesses through its startup accelerator and development program entered into a joint venture with India’s Bangalore-headquartered ANSR which offers startups-focused infrastructure.

Techstars India Logo

The Economic Times reports that Techstars, which holds a majority share in the joint venture, aims to open centers across multiple locations in India in a few years. The first center will be launched in Bangalore next year. “The launch of Techstars India will provide an impetus to the rapidly growing startup ecosystem and the emergence of India as a dominant entrepreneurial network,” said Lalit Ahuja, CEO, ANSR.

Techstars operates four divisions: a startup program, an accelerator, corporate innovation partnerships, and a venture capital fund. Typically, startups selected to Techstars’ three-month accelerator program are offered $20,000 in exchange for 6% common stock, and a $100,000 convertible note upon acceptance.

 

September 15, 2017   No Comments

WeddingWire Starts Operations in India

WeddingWire Inc., the Chevy Chase, Maryland-based online marketplace for the wedding industry opened its headquarters in a leased space in Gurgaon, approximately 20 miles southwest of Delhi.

Proximity to Delhi played a role in WeddingWire’s decision to base its headquarters in Gurgaon, reports Bizjournals. “Delhi is the biggest market in India,” said Anoop Kumar, who heads strategy and corporate development at the company. Gurgaon is also a technology hub which hosts Indian operations for companies such as Google, Accenture, and Uber. As a result, there is “a lot of talent there. India represents a large wedding market that is significantly different from the other 14 countries in which WeddingWire operates,”  Kumar added.

WeddingWire Planner

August 10, 2017   No Comments

New Jersey based ATCS Sets Up Innovation Lab in India

New Jersey-based IT solutions company Advanced Technology Consulting Service (ATCS) expanded its operations in India by recruiting new staff and setting up its first Innovation Lab (I-Lab) in Jaipur, in the western state of Rajasthan. The company also opened a new office in Bangalore.

“The I-Lab not only serves as a functional space for approaching ideas and concepts in an alternative setting but also embeds a spirit in our team that ATCS is expected to think differently, creating solutions beyond one’s peripheral views,” said Jason Castellani, partner at ATCS.

The company provides strategic guidance to and implements software solutions for several Fortune 500 companies, and has offices in China, Germany and Canada, reports NDTV Profit.

Manish Krishnan, Global CEO, ATCS, said, “For our customers, innovation is a big drive. Having such a lab in our India office helps us in delivering more inventive ideas to our clients.”

ATCS Press Conference in Jaipur

ATCS Press Conference in Jaipur

July 13, 2017   No Comments

Tesla Seeks Import Duty Waiver Till it Can Make in India

Founder and CEO Elon Musk tweeted that Tesla is pushing for import tax waivers to launch its vehicle in India.

Musk  has shown support for India’s plans to have only electric cars on its roads by 2030. According to BusinessLine, India’s government is willing to talk to Tesla while also clarifying that the local sourcing norms don’t apply to cars.

Import duty of cars in India is as high as 125%. Completely-built electric cars priced less than $40,000 attract 60 percent customs duty. However, if assembled in India, the duty on a completely knocked down unit is 10 percent.

Tesla Cars

June 19, 2017   No Comments