With an aim to facilitate trade among small and medium enterprises (SMEs) in India and Europe, the European Business and Technology Centre (EBTC) launched a virtual and physical platform wherein companies can get together to interact and display their technology and products.
Essentially, the European Technology Experience Centre (ETEC), will help European organisations find a partner and investor in India. The centre will also act like a platform for Indian companies to look at adopting the latest European technology without having to visit the country. This will be achieved through virtual collaboration software, making it easier for EBTC and its partners to engage directly with companies and individuals. The focus areas are biotechnology, energy, environment and transport.
“Despite having the best technology in the world, our players in Europe have not been able to establish themselves in a big way here. We understand there is a clear mismatch. The centre is in place to do away with these mismatches,” says Paul V Jensen, director, EBTC.
Of late, Europe has been losing its market share in developing countries like India, China, Thailand, as traditionally, European companies have been poor in adapting and localising their technology and products. Of the 24 million SMEs in Europe, only 10% export outside Europe. Of the 10%, very few focus on exporting to India.
“We want to increase the number of companies having India as the focus. There is no point in companies coming all the way here to display their technology, only to learn there is no demand for it. Now, they can approach us, and we will guide them to Indian companies in the look out for such a technology” says Jensen.
Also, efforts will be made to keep cost of technologies as low as possible.
“We understand that India is a price sensitive market. Hence, we are constantly telling companies in Europe to localise their products in India in order to bring down the cost,” says Leena Pishe Thomas, regional manager, EBTC, Bangalore.