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Europe boasts well-developed tech and innovation capabilities, but it has often lacked the ability to transfer solutions to other countries. India, with its rapidly growing economy and diverse market potential, presents an ideal destination for European start-ups looking to expand.
Yet India is not on the radar of many European companies, due to perceived barriers such as regulatory variations, a lack of familiarity with the market, and perceived cultural differences. The EU-India InnoCenter was established to provide tailored support and guidance for small and medium-sized European businesses navigating the complexities of the Indian market, helping to leverage the potential benefits.
Jurga Mečinskienė, project coordinator and associate partner at Civitta, explains: “EU-India InnoCenter tapped into one of the fastest-growing markets in the world, while introducing tech that could contribute to India’s development. The project was crucial in raising awareness of the Indian market.”
A two-way street
The project created a dynamic business hub where European start-ups in science, technology and innovation could connect with the Indian market. Backed by a consortium of expert organisations – four from Europe and two from India – it offered business consulting and investment advice, as well as knowledge exchange and partnership building.
The project approached each new enterprise in four different ways to equip them with effective tools and knowledge to successfully launch and scale up their operations in India. These included: market discovery, expansion planning, product validation, and market entry strategies.
Another key component of EU-India InnoCenter’s success was its focus on developing collaboration between European and Indian stakeholders as a two-way street. According to Mečinskienė, one of the most crucial aspects of the project was the exploration and validation phase, where companies had their first hands-on encounter with India, gaining on-the-ground experience.
“This allowed us to better identify the challenges and opportunities companies would face in the Indian market, while providing significant value through preparation and connections to facilitate business,” she adds.
The project supported advancements in key areas, such as healthcare, energy transition, logistics and sustainability. One notable example is Foliomax from Slovenia, a natural plant fertiliser. As India grapples with rising demand for high-quality food and ever-increasing population density, the product’s ability to increase crop productivity, reduce resource consumption and improve nutrient density responds to crucial sustainable agricultural needs.
Milestones and achievements
Over 3 years, more than 100 companies benefited from EU-India InnoCenter’s support, with 63 undergoing guided market validation and 13 successfully entering the Indian market and establishing a local presence. These enterprises have acquired their first clients, set up distribution partners and conducted pilot trials.
Another significant outcome was the increased awareness of India as a market for European innovation. By showcasing the potential for collaboration and success, InnoCenter has contributed to a more positive perception of India as a business destination, reaching over 2 million users in Europe and a potential audience of 450 million in India through its communication efforts.
The project has also created a self-sustaining business model that will continue beyond the end of the funding period. This includes Start2 Group, a firm that supports European companies expanding into foreign markets.
“The Center will remain operational and will support start-ups and SMEs based on incoming requests,” says Mečinskienė. “In addition, we are happy to explore any other targeted initiatives together with corporate or government partners for which the experience of the Center could be utilised.”
Long-lasting partnerships
With more than 1 360 connections established between European and Indian entities, EU-India InnoCenter has laid the groundwork for continued collaboration between Europe and India, and provides a successful template for future initiatives. Meanwhile, the project itself will continue to develop technological and cultural relations, bringing mutual gains to both regions.
As the world becomes increasingly interconnected, hubs such as EU-India InnoCenter are essential for driving economic growth, encouraging cultural exchange and addressing global challenges. The project’s most enduring legacy may be the proven model it offers for other countries hoping to replicate its success in creating cross-continental innovation networks.