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| Two Indian companies compete for top spot in Wales' Techium Challenge |
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Two Indian technology companies, Lifecare Innovations and Oriental Aquamarine Biotech, are among the five companies selected to travel to Wales as part of a Learning Journey for the final round of Technium Challenge International, an annual business planning competition hosted in Wales. They have been joined by Talent on Campus, a third Indian company taking part in the Learning Journey. Technium Challenge International is organised by the Welsh Assembly Government's International Business Wales (IBW) team in selected countries overseas. The annual international business planning competition provides unrivalled opportunities for companies looking to establish a foothold within the Europe and UK marketplace. It is particularly suited to those companies that require a high level of support to realize their international expansion plans. The company selected as the overall winner will receive an attractive prize package plus a fast-track route into one of the eleven Technium business innovation centres in Wales. Participants will benefit from support in developing their international business plans from Technium. During their visit to Wales, the companies have the opportunity to meet other business representatives in their sectors, review specialist research and development expertise within Welsh universities, and attend one-on-one guidance clinics from a range of specialist advisors. The winner of Technium Challenge International will be announced at an awards dinner in the Marriott Hotel in Swansea, Wales. The seven businesses that made it to the final round have already undergone a competitive selection process and represent Australia, Canada, India, New Zealand, South Africa and the USA. Lifecare Innovations, one of the two companies from India that are competing for the top prize this week, is a medical biotechnology company based in Gurgaon that specialises in controlled release pharmaceuticals. Oriental Aquamarine Biotech, the second Indian company, is based in Coimbatore and has patented an Organic Recirculation Prawn Seed Production System. Talent on Campus is experienced in developing portals with two service lines for university and college students. Talent on Campus is not a finalist but is looking to independently explore options for setting up facilities in Wales. Ieuan Wyn Jones, Welsh Minister for the Economy and Transport, said the competition was designed to attract dynamic technology and science companies with high growth potential to Wales. "The majority of these companies are looking to expand into new markets, and this competition provides them with the opportunity to use Wales as a springboard to target the UK and European markets, while developing their products and carrying out research and development in Wales." "The promotion of the competition in so many countries has also helped raise the profile of Wales, enabled IBW to establish business networks in these countries, and open up new opportunities through these alliances with business and academic organizations," he added. - Agencies Related Articles:
Last update: 27-06-2009 18:26
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