Several international startups from Singapore and Canada have expressed interest in expanding into India, citing its massive market potential, rapid economic growth and supportive startup ecosystem.
The startups expressed their intent to explore the Indian market on the sidelines of EPIC 2025, a global pitch competition organised by the Hong Kong Science and Technology Parks Corporation (HKSTP), which concluded on Friday evening.
Out of 1,200 applications from more than 70 economies, 100 startups, including two from India, were shortlisted into three categories: Digital Health Tech, FinTech and GreenTech. The annual event provides a platform to founders to connect with global investors, corporate partners and emerging markets.
In a statement to the media, Sunny Chai, Chairman, HKSTP, said, "We are turning Hong Kong's connectivity into momentum, helping ideas move and scale across borders. EPIC 2025 is a testament to this, where entrepreneurs connect with emerging markets, enthusiastic investors, and world-class innovation ecosystems."
Bryan Oh, Founder & CEO of Singapore-based NEU Battery Materials, said, "Our priority is to grow our business beyond Singapore, because battery recycling is not just a problem for Singapore or Hong Kong, it is a global problem. We want to solve it using our process and technology."
When asked about plans for India, he said India is a big market with an ecosystem for startups, and a couple of startups involved in battery recycling are doing well there. "It has a huge amount of two-wheelers and three-wheelers... It's definitely a market we are looking at to recycle batteries. I would love to know more about government initiatives and policies in India," said the EPIC 2025 winner, who participated in the GreenTech category.
Jayden Lu, Product Engineer at Belli, said India is a fast-growing economy and it will be great to be a part of this journey. He said India stands as a great opportunity for investors to build their customer base, given its high population. “The country has a big startup foundation. I see a great future for startups in India,” said Lu. Singapore-based Belli, which develops air cargo software for airlines, participated in the FinTech category in EPIC 2025.
Amol S Karnick, President and CEO of Canada-based KA imaging, said, "We are exploring the possibilities of entering India, we need to find the right partners and investors to expand our operations there."
Sharing his views on Indian government policies for startups, he said, "Recently, we have seen the Indian government putting funding into science and medical technology. That's an interesting opportunity for us. The fund is the most important. I need to explore more how Indian policies can support us."
KA Imaging, which has developed colour X-ray technology for real-time images of human organs for early detection of cardiac and lung-related diseases, participated in the HealthTech category.
Also read: India to have startups in every district by 2025: DPIIT
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