IAN is Asia’s largest angel network of over 250 investors, including successful entrepreneurs and CEOs spread across ten countries.
The network is set to invest in London-based company SwiftShift, a startup that has invented a software solution which allows businesses to fill short notice shifts using their own staff through mobile technology, SMS and email.
Oliver Letwin, minister for government policy said:”The UK consistently ranks in the top three places for global investors due, in part, to the dynamism and innovation of our start-up companies.
“There is a wealth of British talent and potential that needs the right investment and bringing the Indian Angel Network to this country forms part of our efforts to ease access to finance for start ups and attract foreign capital.”
Indian firms are now the fifth largest investors in the UK with more than half of Indian investment into Europe going to Britain.
Saurabh Srivastava, co-founder of IAN, said: “The UK is home to some of the best innovation and R&D in the world. IAN, is a rare and possibly the only angel group in the world that has global membership and invests globally, with nimble yet robust, standardised, transparent processes that operate across geographies.
“We are thankful to the UK government for their support and are excited about supporting innovative UK startups, going global, fostering UK India collaboration in the early stage arena and driving economic growth in the region.