A senior official from the office of the Deputy Mayor of London for Business said that many technology companies from Gurugram are keen to establish themselves in London. On the sidelines of the B20 summit, Hemin Bharucha, Country Director (India) and member of the senior leadership team, London & Partners, said that ranging from the availability of venture capital funding to global demand, etc. are the main reasons to be attracted to London. London & Partners is the UK capital’s business and business development agency, which operates under the auspices of the Mayor of London. Bharucha acknowledged that funding for startups is no longer as easily available as in the past. However, he added that his company works with MSMEs (Micro, Small and Medium Enterprises) as large companies either already have a presence in London, or can afford a large consultancy firm.
more intense scrutiny by investors
Hemin Bharucha said, we see that Gurugram is really moving forward in the field of electric vehicles (EV), sustainability and technology. These are huge areas… We’re also seeing some creative companies in AR and VR. He said that scrutiny by investors has become more thorough, which is much needed as a lot of investors have lost their money. Bharucha said, we do not ask every company to come to London because if they are not ready, they will go there and fail. It is a problem for them as well as for us. Talking about the impact of the economic slowdown across the world, Bharucha said that being a global city, London cannot remain untouched by global shocks. London & Partners is partly funded by the Greater London Authority (GLA) and other commercial enterprises.