: With an aim to expand its existing footprint internationally, Fifth Generation Technologies India (P) Ltd, an Indian based software product company that specializes in developing business intelligence platforms, analytic applications and performance management products and also known by its brand name 5G, has announced the launch of its operations in the North East England to take advantage of the software expertise and the high end research capabilities offered by the region. The company has recently set up its office in Sunderland Software City through itâ€˜s 100% owned subsidiary UK company 5G Technologies Europe Limited - and will export the new products they develop in the North East into potential markets across the continent as the business grows.
Ã¢â‚¬Å“We are extremely excited about our investment in the North eastÃ¢â‚¬, said Dr. Ananth Seshan, Chairman and Managing Director of 5G. Ã¢â‚¬Å“When One North East, the regional development agency for North East England contacted us it was quite timely in that we were looking at various options to start our operations in the UK to expand our European footprint. Being an Intellectual Property focussed organisation, we were attracted to the native talent pool that was available in the North East from 5 top class engineering schools, a world-class infrastructure that was second to none, and the overall lower cost of operations in comparison to the other places we had short-listed. We were pleasantly surprised by the speed at which we were able to set up our operations, which would not have been possible without the tremendous support of One North EastÃ¢â‚¬.
Emma Burnip, Inward Investment advisor at One NorthEast said: Ã¢â‚¬Å“We are delighted that 5G has decided to make North East England its European base. The inward investment team at One North East, Sunderland City Council and Sunderland Software City have worked closely with 5G to help bring the company to North East EnglandÃ¢â‚¬.
Ã¢â‚¬Å“There is growing interest from India in the commercial opportunities provided by Sunderland Software City and North East England. The entry by 5G will hopefully act as a catalyst for further Indian software firms to establish their business in the regionÃ¢â‚¬.
North East England is increasingly proving to be a preferred gateway for Indian companies who wish to expand and leverage the opportunities in the European markets. Over 500 leading multi-nationals are based in the region which has an international reputation as a centre for innovation, science and design and a history of supporting international companies in their growth and development. Also the close proximity to global economic hub London and proposed business friendly approach adds further impetus to attract inward investments in the region.
One of the key initiatives devised by One North East and Sunderland Software City is the Soft Landing Programme specifically created to meet the requirements of international software companies exploring a UK presence. The programme is a set of tailored services built with a strong focus in supporting organisational activities which include right from short listing of office space as per the investorâ€˜s requirement to enabling their Marketing, Business development and sales activities. The programme highlights for the investors include an end-to-end support services such as allocation of the office space at a subsidised rent in Sunderland Software City with access to world class facilities and connectivity.
In addition, the programme also offers a range of professional services such as Subsidiary or Branch office registration, Tax and Accounting procedure advice, HR, legal and Accountancy to expedite the operational processes. An investor can also choose to be a member of any regional or national network group for business contacts at a subsidised subscription fee.
David Dunn, chief operating officer at Sunderland Software City said, Ã¢â‚¬Å“Itâ€˜s fantastic that the region is being recognised as an ideal place for software companies to locate, whether the companies are from overseas locating their European bases here or they are UK companies setting up or expanding here.Ã¢â‚¬
Councillor Paul Watson, Leader at Sunderland City Council said Ã¢â‚¬Å“The fact that a successful IT company from India has chosen Sunderland to locate its new operation in the UK, again demonstrates that Sunderland is a prime location for successful businesses of all sectors. We wish 5G every success in the city and they can be assured of the continued support of the City Council and its Sunderland Software City partners.Ã¢â‚¬
Despite the recession, the worldwide appetite for Business Intelligence platforms, analytic applications and performance management software in 2008 increased 21.7% on the previous year, from $7.2 billion to $8.8 billion.
5Gâ€˜s products in the areas of business performance management and analytics target specifically the following domains: Manufacturing, Energy Utilities, Retail and Sports. The company, who have been recently included in the Emerge 50 list of Nasscom- an apex body for the IT/ITES companies in India, has underlined Sunderland as their European base for its vibrant business supporting model, world class infrastructure, and a large pool of technical talent all available at relatively low cost figures. The company will employ around 25 people within a two year time frame and shall further strengthen its base as it grows.
Over half the Indian companies that have invested in North East England have expanded in the last six years. Research shows 55% of Indian investments in the region since 2003 have gone on to complete expansion projects after basing their operations here. There are 15 Indian companies in North East England currently including businesses such as Shasun, Motherson Sumi Systems Limited., Nicholas Piramal and Tech Mahindra, and employ over 1500 people in the region.
The region is already home to leading digital firms including Sage, Leighton Group, Euthechnyx and Mere Mortals.