Inaugural edition of the India-UK FutureTech Festival set to explore how both can address global challenges and discover opportunities together
India and UK share a number of political, cultural, and economical similarities and differences. The relationship between the two countries has evolved over the course of history, with continued collaboration between people, ideas and institutions continuing till the present day. This cultural camaraderie has been further strengthened through sustained and committed bi-lateral economic ties between the two. Take these instances:
- UK companies create one out of every 20 jobs in the organised sector in India, employing nearly 800,000 people
- UK has invested $21 billion in India in the last 10 years, making it the largest G20 investor in the country
- Bilateral trade between UK and India is strong and ever-growing. In 2017-18, K exports to India grew by 32 percent totalling £7.6bn.
- India has the fourth largest number of investment projects in the UK
- 800 Indian companies employ 110,000 people in the UK
- London is the global home of capital. Over £2 billion (₹1,800 crore) in Masala Bonds have been listed on the London Stock Exchange by Indian companies.
- There are over 400 UK-owned companies active in India. Turning over £80bn, making £10bn profit – and retaining most of that in India
These statistics are just a small indicator of the strong collaborative relationship that the two countries share and showcase the continued efforts to expand and strengthen partnerships and exchange in trade, investments and technology. In April 2018, when Prime Minister Narendra Modi met UK Prime Minister Theresa May, they formally launched the India-UK Technology Partnership to further strengthen this commitment and enhance the participation of the two countries in the areas of healthcare, innovation, digitisation, electric mobility, clean energy, and cyber security. Thought-leadership summit FutureTech Festival is among the many initiatives that are part of that partnership.
The UK Government in India in partnership with NITI Aayog and tech innovators, companies and organisations from both UK and India, is hosting the first-ever FutureTech Festival on December 11 and 12 in New Delhi.
The summit will bring together business leaders, policy makers, venture capitalists, scientists and entrepreneurs to explore opportunities for bi-lateral collaboration. It will also provide a platform for different stakeholders to have conversations on how disruptive technology and innovations are creating new opportunities in sustainable energy, cybersecurity, fintech, artificial intelligence, future workplaces, urban landscape, healthcare, agritech, mobility and other areas. The FutureTech Festival is expected to play a key role in increasing collaboration between the two countries through trade, investment, technology and skills transfer, and demonstrate the scale of UK-India tech capital through the launch of a range of joint tech funds.
The event will see participation from more than 100 top UK and Indian tech companies and organisations working across AI/Data, Future Healthcare, Future Mobility, Fintech, Createch and Cyber Security, among others. Top CEOs, CTOs, investors and academics will be present on the occasion. UK companies part of the event are expected to visit Mumbai, Pune and Bangalore to meet, network and pitch for business and investment.
The FutureTech Festival will be launched on December 11, 2018 at the British High Commissioner’s residence in New Delhi. Events on December 12, Day 2 of the festival, will include thought-leadership programmes, meetings and will also feature a high-impact exhibition.
Connect with government agencies, science and research institutions, startups and powerful corporates, understand more about the advantages of technological disruptions and how you can tap trade and investment opportunities in India and the UK. Register for the India-UK FutureTech Festival today.
Key highlights of this two-day event
TECH Rocketship Awards
The TECH Rocketship Awards are a joint initiative from the Department for International Trade and a range of Indian startup partners, and have been endorsed by The Duke and Duchess of Cambridge, British Prime Minister Theresa May and some of biggest names in Indian business ranging from Mohan Pai to Anand Mahindra.
The 2018-19 TECH Rocketship Awards will provide India’s top tech entrepreneurs and scale-up businesses an opportunity to win international business development support in the UK. The award categories this year include fintech, med-tech, Internet of Things, cloud computing and data analytics, cyber security and artificial intelligence. The awards also include an additional spot under the ‘judges’ award for creativity’.
In addition, there’s also the Fintech Rocketship Awards where more than 40 fintech entrepreneurs from the UK and India annually benefit from a mutual exchange of mentorship, tech and investment. As part of this initiative and the FutureTech Festival, a delegation of 19 UK fintech companies will be visiting Bengaluru and New Delhi.
The grand finale of the Tech Rocketship Awards 2018-19 will take place on December 11 alongside the FutureTech festival launch.
A live speed hacking contest for Fintech startups
Day 2 of the FutureTech festival will also include a live speed hacking contest, designed by fintech experts. Teams of developers, designers and innovators from the UK and India’s fintech startup communities will compete in this day-long creative problem-solving event. The winning team will win an opportunity to translate their ideas into practice with the help of leading fintech practitioners in India. Royal Bank of Scotland is a key sponsor of the hackathon. Fintech startups wishing to participate in the live speed hacking contest need to contact Nandini Saxena at [email protected].
Launch of UK-India Fast Track Start-up Fund
The UK Government, through the Department for International Development in India, is committing up to £38 million to the Indian startup ecosystem. The Government of India, through the Department of Industrial Policy and Promotion, will make a matching commitment of £20 million from the Fund of Funds for startups managed by SIDBI. The Fund will be launched by Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP), and Gavin McGillivray, Head of the Department for International Development (DFID), India.
Launch of UK-India Healthcare Artificial Intelligence Catalyst
The UK Department of International Trade and NITI Aayog have come together to launch a £1 million programme, bringing cutting edge AI healthcare technologies from the UK to India. Starting this December, UK’s healthtech companies will be implementing their solutions in district hospitals and Primary Health Centres across some of India’s most challenged districts – helping them improve access to diagnostic tests, overcome workforce shortages, and lower healthcare costs.
An immersive session that will showcase the possibilities of how convergence of new technologies can share the future
Acknowledging that we are in an age where augmented reality (AR), virtual reality (VR) and artificial intelligence (AI) are making their presence felt, the festival is hosting a one-of-its kind session powered by these very technologies. The live event setup will involve the experts, the audience and online participants in a live conversation – delivered by employing Immersive Tech, AI and ML.
Discussions and engaging roundtables by industry thought leaders, industry leaders, government leaders and academicians from the two countries
- What’s the importance of effective IP enforcement to incentivise trade and investment?
- How is UK’s National Health Service embracing the latest in digital systems and AI to deliver improved patient outcomes and personalised medicine and prevention.
- How does the use of science and technology in farming practices help farmers overcome the challenges of changing weather patterns and environmental threats?
- What cutting-edge technologies are driving the development of sustainable and smart infrastructure, and building the next generation cities?
- How can one respond to a cyber-attack as the attack unfolds?
- How can one develop regulatory interventions to aid the growth of the fintech sector?
- What do experts working in transformative technology with and for communities across India have to say about putting people at the heart of technological innovation?
Explore these and other such interesting topics being discussed and debated at the FutureTech Festival.
Leaders from companies such as 3one4 Capital, AcornOakNorth, AGBT, AstraZenica, Aviva, BT, Carbonculture, Chalo, Control Risks, Equiniti, Flipkart, Founders Factory, G4S, Inmarsat, Max Bupa, Mobikwik, OCS, Orbo, People.io, PwC, RELX-Elsevier,Renishaw, Rolls Royce, Standard Life Aberdeen, Tevva Motors, TVS Logistics, Vidrona Ltd, Vodafone, Grant Thornton India, Invest India, and many more at the event.
With over 100 tech companies from both countries showcasing pioneering works, interesting discussions by academicians, policymakers and entrepreneurs, a live fintech hackathon, and the launch of startup funds, the first ever India-UK FutureTech Festival has a lot in store for Indian tech startups. Be a part of this dynamic and interactive event that is designed to help startups and entrepreneurs explore cross-border trade, investment and technology opportunities.