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Our Bureau

New Delhi , Dec. 16

VENTURE capitalists from the United Kingdom are in search of exceptional `intellectual property' among Indian entrepreneurs who could benefit from investing in the United Kingdom and partnering with companies there.

The British venture capitalists are interested in desi companies that have the potential to reach a market capitalisation of about $100-200 million in two to three years.

"India's growing economy is throwing up some remarkable entrepreneurial talent. We are looking for talent that the UK can benefit from," the Deputy Director Inward Investment at British High Commission, Mr Mark Dolan, said. The United Kingdom receives about 60 per cent of the Indian investment that goes into Europe, with India scoring as the eighth largest investor.The visiting delegation from the United Kingdom is currently studying proposals it has received from Indian start-ups and plans to take between 5 to 10 entrepreneurs back to UK to help them set up business operations there. "We are looking for talent in every sector; but life sciences, biotechnology and manufacturing definitely have an edge," he said. Among the criteria for the proposal to be selected is that it should have the potential to grow and create more job opportunities in the United Kingdom, the Director Indo-British Partnership Network, Mr Alpesh Patel, who is also dealmaker at Global Entrepreneur, UK Trade and Investment, said.

"The venture capitalists planning to invest in India are looking at start-ups in the technology space, including life sciences. Start-ups with a potential to gain a market capitalisation of $100-200 million would be the most sought-after. We will help them set up business in the United Kingdom as it will not only give them access to the large European market but also to those in other parts of the globe," said Mr Patel.

The venture capitalists are here to participate in the TiEcon 2005 conference, a flagship event of The Indus Entrepreneurs (TiE).

More Stories on : Venture Capital | Entrepreneurship

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