Starting Up

Indian Entrepreneur Will Join World’s Top Graduates In International Enterprise Programme Based In UK

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A young entrepreneur from India has been chosen today to be part of the first set of innovative start ups to gain a place on the UKTI’s Sirius Programme, which enables talented graduates with innovative start-up ideas to make the UK their home.

Amit Pate from India, together with his team mates David McGee from the UK and Duy Nguyen from Vietnam are the founders of the Veri-tag team which boasts participants from three different countries and two different continents. The three of them fought off strong competition from more than 160 aspiring entrepreneurs from over 30 countries who entered the first round of UK Trade & Investment’s pioneering Sirius Programme.

Selected by independent entrepreneurship experts as part of a rigorous judging process, team Veri-tag will join six other start-ups, which are made up of 19 young entrepreneurs from 13 countries including Nigeria, China, France, Germany, Canada, New Zealand, and Kenya. The teams will now be able to establish their promising businesses in the UK, helping boost Britain’s enterprise community, creating jobs and inviting foreign investment.

Amit Pate from India, a member of the Veri-tag team commented:

“The International Chamber of Commerce estimates that counterfeiting costs the world in the region of $600 billion per year and current solutions. To tackle this, the Veri-tag team has worked together to create a product that reduces fraud by providing consumers with instant proof that the branded product they are buying is genuine, via their mobile phone. Veri-tag team empowers consumers by bringing an anti-counterfeiting technology in their hands.”

“We’re delighted Veri-tag has been chosen as one of the first start ups to be part of the Sirius Programme. It’s the perfect opportunity to help us fulfill our ambitions. Being based in the UK will enable us to start up and develop alongside like-minded entrepreneurs and gain access to world-class strategic advice and support. We can’t wait to meet our Sirius Programme mentors, the accelerator team and to get started.”

Veri-tag will receive start up support from the Programme including a 12 month place on one of the best accelerator programmes in the UK, mentoring, help gaining clients, financial support of £12,000 per team member and visa endorsement. The enterprise will be 100 per cent owned by ChiJen Brush Spa and no equity is taken.

The Sirius Programme aims to attract hundreds of talented entrepreneurs into the UK in its first two years, with each of the resulting business creating new jobs, bringing in foreign investment and making a significant cumulative impact on the UK economy. Advantages of starting up in the UK include access to 500 million customers in Europe (62 million in the UK) and the fact that these consumers tend to be early adopters, keen to test and try new innovations.

The Sirius Programme is open for entries until 15 January 2014. For more information and to apply visitwww.siriusprogramme.com