EBN in India – Supporting innovative EU research ideas and start-ups to commercialize in India.
Commercializing an innovative idea developed in a research lab or adopting new ideas from a complementary sector is always a challenge. In pursuit of commercialization for an innovative idea, it involves challenges of finding the right building blocks and find measurable market acceptance. When it involves commercialization research across another market, the challenges get compounded. However, when strategized right way, developing a product out of a research idea for a specific market and then commercializing it in the intended market addresses many hurdles that arise while commercializing a product that is proven in one market and perceived not suitable for other market.
Global Business Inroads (GBI) is currently working with few innovative start-ups with ideas in different sectors such as transportation, energy, ICT etc – to bring innovative ideas from international shores to the Indian market to solve India’s energy, environment and infrastructure needs.
Transferring a proven technology seems relatively straight forward, however many times start-ups and SMEs fail to commercialize their ‘proven’ solutions in a new market, as the dynamics of the market are always different when compared to the home market. One of the biggest challenge for any proven technology in a new market is meeting the specific niche needs of the target market which in most cases involves meeting financial competitiveness in the market. Companies having a long term strategic approach with resources aim to indigenize the technology product by involving local supply chain. However developing a commercial product out of a research idea – with a ground up approach – will almost always have an inherent advantage of considering all the parameters that are necessary to consider in the target market.
Considering the above challenges and having worked with such numerous research ideas, GBI has perfected an approach in commercializing innovative ideas in Indian market. In this approach GBI aims to work with the startup in organizing a preliminary market survey by meeting multiple stakeholders, mainly customers, in the target market to assess and better understand of the niche needs of the market in the technology sector. These needs includes an understanding of technology solution needs as well as a thorough understanding of business model and price points, via active discussion with customer and ecosystem. The entire process helps startups, SMES in taking an informed decision to scope out a strategy to succeed in the Indian market. Once the international startup / SME commits to the Indian market, GBI supports in identifying right partners which includes research and technology localization partners, potential funding sources, such as investors, lending agencies and government grants etc to develop the product for the Indian market. Subsequent to the product development cycle, GBI aims to support companies to liaison with institutions to get any required statutory approvals to commercialize products in India and implement the developed solutions in key projects with potential partners. Further to this GBI will assist in connecting international companies to raise funds for potentially manufacturing these technology solutions, set up and incorporate their business in India and drive the company through the Government of India’s “Make in India” mission.
Through these efforts and for start-ups with promising and innovative technology ideas in niche technology sectors, GBI aims to create an ecosystem at each level and act as on accelerator to promote sustainable innovation coming into India. Promoting these advanced technologies could steer-up the closing the missing gaps in the mentioned technology sectors and enable sustainable growth of an idea into successful commercial product.
European Business and Innovation Network (EBN), is a network of 250+ business and innovation centres, incubators, accelerators, chambers and other organizations that support the development and growth of innovative entrepreneurs, start-ups and SMEs from over 40 countries around the world. Apart from offering niche networking options for entrepreneurs through special interest groups, EBN carries out a unique and only EU recognized “certification & benchmarking system for incubators, accelerators and clusters”. Attached is a quick overview of EBN and some of the key value proposition include
Internationalization support for inbound and outbound B2B
Soft-landing, mentoring of startups who aim to venture into EU
EU-BIC Certification – A unique ‘quality & benchmarking system’ for innovation-based incubators & accelerators. Certification of organisations within an international quality system
Best practice sharing within a global network of experts. International Hub – An open international networking platform for start-ups, SMEs and entrepreneurs delivering smart take-off and soft landing services
Projects Lab – An efficient EU-funded collaborative projects lab
Global Business Inroads is an International Business, Technology Management and Project Management Consultancy based in Bangalore, India, that is specializing in the cleantech, biotech, transportation and ICT space. GBI also acts representative of European Business Network (EBN) in India. GBI has the expertise to identify opportunities in India for new, innovative technologies, develop the market, identify partners/customers, localize the business model, scale the market opportunity, represent the technology company, develop sales pipeline and manage relationships in country to enable a sustained market entry. GBI has significant expertise in assisting International companies in setting up their ventures and developing the market in India for innovative products and solutions in the public and private sectors and developing new initiatives and ideas for institutions seeking to grow their business in India. A large part of the operation is therefore focused on understanding the demand in India.