A new building at Royal Albert Dock (RAD) has been launched at the UK India tech hub.
Its aim is to provide a designated space for firms from India in the UK, and claims to be the first venture capital fund that has partnered with a business district to create a tech hub anywhere the world.
Developer ABP London and investors Pontaq will provide technology firms with work space while Pontaq’s tech fund will be invested in tech start-ups.
Royal Albert Dock claims to be London’s new international business district with a specific focus on tech and has been created for companies from Asia looking to reach new markets and for UK businesses looking to go global through connecting with them.
A programme of innovation-focused tech events is being curated for the new community to develop ideas and connect with industry experts.
Interest from the UK India tech community to locate in the £1.7bn and 4.7m sq ft RAD development is high, with Pontaq taking 200 desks initially and aiming to host 50 companies in the next two years.
India high commissioner, Ruchi Ghanashyam said: “The UK India Tech Hub provides a gateway for cross pollinating technology and innovation in early stage businesses between the two countries.
“This provides a great platform to create globally scalable companies, more jobs and a positive economic impact in this corridor.”
ABP London Chief Operating Officer John Miu added: “India is a powerhouse for tech talents and we are delighted to welcome some of those tech talents Pontaq will be bringing to RAD.
“ABP created RAD as London’s new international business district especially created for companies from Asia looking to reach new markets and for international businesses looking to expand through connecting with them.
“We believe RAD is the perfect launch pad for tech firms with its advantages in location, cost and the business networks we are establishing.”