UK shifts focus to youth
Two India-based entrepreneurs will each receive £1,500 in funding to support business set up, marketing and recruitment costs.
By Sudeshna Sen, ET Online |
LONDON: The newly created UK India Business Council, which has a mandate from the British government to be the nodal agency to promote trade links between India and UK, is to sponsor two young Indian entrepreneurs who are focusing on socially-responsible enterprises. Two India-based entrepreneurs will each receive £1,500 in funding to support business set up, marketing and recruitment costs. Each entrepreneur will also be assigned a British entrepreneur, who will work with the winners in India.
The UKIBC, which is the transformed version of the erstwhile Indo British Partnership Initiative, has been created with the intention of coordinating and facilitating bilateral trade, business and investment opportunities and act as a nodal agency for a number of trade promotion bodies that function independently.
To address these issues of perception and inform both markets,the UKIBC has created a programme of activities under the brand, Next Generation India. According to Sharon Bamford, chief executive of the UKIBC, the idea is to engage future leaders of trade and business, and sensitise them to market conditions in both countries. Next Generation India will be the Council's flagship programme for now, and the entrepreneur award is part of the platform.
Another activity launched by the UKIBC is to set up a Next Generation Network, consisting of young entrepreneurs of both countries to build their own networks and gain a new insight into the UK and Indian markets. Said Sharon Bamford, "This sponsorship deal will showcase 21 st century entrepreneurship in India.
Entrepreneurship can be used as a power to deliver economic and social benefit to both markets. Young entrepreneurs are tomorrow's business leaders and networks between UK and India must be fostered to ensure bilateral trade between these two countries continues into the future."
There are plans to later draw in the student community in both countries into the network, and create programmes for exchanges and internships among students and young entrepreneurs on an ongoing basis.
The new initiatives of the UKIBC signifies a shift in focus to younger business leaders and small and medium enterprises to promote trade and cross-investment. The UK government restructured its overall trade promotion initiatives with India recently, as it is not too happy with the level of trade growth between the two countries.
The UKIBC, which is the transformed version of the erstwhile Indo British Partnership Initiative, has been created with the intention of coordinating and facilitating bilateral trade, business and investment opportunities and act as a nodal agency for a number of trade promotion bodies that function independently.
To address these issues of perception and inform both markets,the UKIBC has created a programme of activities under the brand, Next Generation India. According to Sharon Bamford, chief executive of the UKIBC, the idea is to engage future leaders of trade and business, and sensitise them to market conditions in both countries. Next Generation India will be the Council's flagship programme for now, and the entrepreneur award is part of the platform.
Another activity launched by the UKIBC is to set up a Next Generation Network, consisting of young entrepreneurs of both countries to build their own networks and gain a new insight into the UK and Indian markets. Said Sharon Bamford, "This sponsorship deal will showcase 21 st century entrepreneurship in India.
Entrepreneurship can be used as a power to deliver economic and social benefit to both markets. Young entrepreneurs are tomorrow's business leaders and networks between UK and India must be fostered to ensure bilateral trade between these two countries continues into the future."
There are plans to later draw in the student community in both countries into the network, and create programmes for exchanges and internships among students and young entrepreneurs on an ongoing basis.
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The new initiatives of the UKIBC signifies a shift in focus to younger business leaders and small and medium enterprises to promote trade and cross-investment. The UK government restructured its overall trade promotion initiatives with India recently, as it is not too happy with the level of trade growth between the two countries.
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