Six NSW technology companies have been chosen for a 12-month incubator program to grow export business in the Indian market under an initiative by the NSW government and innovation consultancy Fusion Labs.
Minister for trade and industry Niall Blair said the Fusion Labs Access India Program is part of a two-year $1.58 million NSW commitment to boost the state’s start-up, technology and advanced manufacturing sectors by helping companies engage with India.
“The six companies chosen for this exciting program are VAPAR, Genepath, Neuromersiv, JAR Aerospace, Tyroola and SwitchDin spanning industries including water security, medtech and aviation to renewable energy and consumer services.
“It’s great to have these companies on board for what will be an amazing journey to build them into India export champions,” he said.
“India is one of the world’s fastest growing tech markets and we will build opportunities for businesses while growing skills, jobs and our economies,” said Blair.
Fusion Labs CEO Matt Adendorff said there was strong potential for NSW tech companies to provide products and services to India in a range of areas.
“We will closely support these companies to understand the Indian market, make business connections, test their products and attract customers,” said Adendorff.
“Over the next 12 months they will get free mentoring in NSW and India, space at Fishburners incubator in Sydney, business and product advice, and opportunities to explore and build commercial market opportunities in the fast growing Indian market.
“The program includes around-the-clock access to a business mentor, four trips to India, business meetings, legal and tax workshops, networking events, and cultural awareness building activities,” said Adendorff.
Amanda Siqueira, co-founder of startup company VAPAR which provides technology to help utilities maintain stormwater and sewerage infrastructure, said the scale of issues in cities like Mumbai and Delhi is on a different scale to here so it will be a huge opportunity and a big learning curve.