The Sheffield City Region has revealed the five local businesses that have been accepted onto the second phase of its India Growth Champions Scheme, delivered in association with the UK India Business Council.
The India Growth Champions Scheme provides participants with £5,000 worth of support to help build partnerships and gain experience in working with Indian companies and organisations.
With only five places available on the scheme and a high calibre of entries from small and medium-sized enterprises (SMEs), successful businesses were chosen based on their credentials and ability to showcase their commitment to developing new business opportunities in India.
The five champions are:
- Maher – an engineering and manufacturing business supplying high strength alloys to the oil & gas, aerospace, marine, metals, defence, power generation and other industries.
- King Kraft – a manufacturer of specialist equipment for people with disabilities, including bathing, changing, hoisting, toileting, wet rooms, washing, cushions and supports.
- Magnomatics – A company that designs and provides magnetic gear technology into the aerospace, renewable energy, marine propulsion, industrial motors and rail industries.
- Lomas Engineering – A specialist manufacturer of cutting tools to the aerospace industry and its maintenance sector.
- Zoo Digital – A digital media company that uses cloud technology to securely localise and distribute movies and TV shows. The company works with Hollywood studios, global broadcasters, online retailers and distributors.
Sir Nigel Knowles, International Advisor to the Mayor of the Sheffield City Region, said: “We are excited to welcome these five businesses onto the India Growth Champions scheme. As the most rapidly expanding of all G20 countries, India offers huge potential in the digitisation of advanced manufacturing and shares many industrial synergies with our region.
“We are confident that with the support offered through the Scheme, our team of experts can guide our champions and help them to open up new opportunities in India.”
Over the coming months, the champions will each receive ten days of dedicated support which will include the development of an India business plan, company-specific market research and competitor analysis, workshops and business mentoring.
The scheme will also culminate in a five-day trade mission to India in 2021, during which the champions will attend a minimum of five appointments with potential Indian business partners.
Throughout the India Growth Champions programme, phase two champions will also be joined by Growth Champions recruited earlier in the year. These businesses, which are already working alongside business experts specialising in the India market, include:
- Sheffield based-Robson Handling Technologies, a leader in handling technologies for the aviation industry.
- Rotherham-based Macalloy, a renowned designer and manufacturer of Post Tensioning Bars, Tie Rods and Cable Systems.
- Donasonic, based in Doncaster, which provides cutting edge design, technology, manufacture and installation of a full range of recycling solutions for waste material.
- Vulcan Engineering, based in Sheffield, which is at the forefront of engine building with a specialism in Ford products manufactures and suppliers of world-class Mechanical and Encapsulated Seals.
- Kryptic Media, with business operations based in Sheffield, a specialist in innovative applications for the creative, entertainment and music sector.
The programme will begin with each Growth Champion taking part in an initial business diagnostic interview conducted by the UKIBC. The purpose of these interviews is to understand the needs of each business and develop a bespoke support plan which will be finalised upon further consultation and after a thorough review of the Growth Champions, NPD capabilities, sector experience, expansion plans and knowledge of the business opportunities in India.
The support provided will equip the Growth Champions with insights and expertise that can help them align their capabilities, needs and opportunities and frame an effective India strategy roadmap.
Kevin McCole, managing director of UKIBC, said: “A host of opportunities flow from the great complementarities between the UK and India in advanced manufacturing and technology. The UK – not least the Sheffield City Region – is a world leader in technology, innovation and R&D, all of which can help India to achieve its economic goals tremendously.
“It is therefore exciting to welcome five new companies to the India Growth Champions Scheme, and we very much look forward to supporting them in their Indian endeavours.”
Experts predict that India will be the third largest economy in the world by 2030. In 2015, the Sheffield City Region exported £81m worth of goods to India – making it the region’s 12th largest trading partner. In 2017, the Sheffield City Region introduced the strategy: ‘Make in India, Design and Develop with the Sheffield City Region’. Since then, the relationship between the Sheffield City Region and India has grown and developed and has been able to open up greater trading opportunities.
Trading with countries such as India is expected to help Sheffield City Region businesses to recover from the Coronavirus lockdown, with international trade expected to be a key factor in driving forward future growth and prosperity in the region.
To find out more about how the Sheffield City Region works with India, visit https://scrinvest.com/how-we-help/working-with-india/