Startup commune TechHub is opening an office in the Indian city of Bangalore in order to give UK and European startups another market to grow into.
TechHub said it sees the new office as a gateway to India’s riches, with the country’s technology industry estimated to be worth $100bn, and it too is looking to bolster its startup environment.
TechHub chief executive Elizabeth Varley told V3 opening an office in India was a huge step forward for the organisation and would bring numerous benefits.
“There is so much going on in the market in India and with so many people online there is so much opportunity, especially if you’re a mobile-focused company,” she said.
“There is also a really strong history of R&D in India and there are thousands of amazing engineers, so it’s also a great way of finding talent and people with great skills and taking advantage of that.”
TechHub chose Bangalore because it is being pushed by the Indian government as the centre of its startup ecosystem, Varley explained.
“The tech industry is exploding all over India but Bangalore is really at the heart of it, especially regards startups, and so it’s an ideal place to provide a way for startups from the UK and Europe to get into that market.”
The offices in Bangalore will be launched on Wednesday, on the fourth anniversary of the first London office being opened. Since it was founded the organisation has helped small young firms grow: its members Divide, SecondSync and Monoidics were acquired by Google, Twitter and Facebook, respectively.
TechHub also plans to open more offices in India over the next 18 months, Varley added.