Scanning Pens announces 5-year investment plan into Indian subsidiary
Having set up their Indian office earlier this year in the prestigious Nariman Point area of Mumbai, UK-based Scanning Pens have announced a 5-year investment plan to expand their Indian subsidiary, following support from UKIBC.
With 10 employees currently working in Mumbai, the plan will see Scanning Pens invest £1 million over the next 5 years, hiring another 30 employees.
By starting up a Scanning Pens centre in India, the team plans to raise greater awareness of dyslexia and the benefits of assistive technology to improve literacy of young people and adults in India.
UKIBC would like to sincerely congratulate Scanning Pens on this excellent news.
UKIBC have assisted Scanning Pens throughout their Indian investment pathway, with help in the initial scoping phase through to setting up their Indian presence.
In 2017, as part of the Global Reach programme, run by Business West and funded by European Regional Development Fund and Department for International Trade, Scanning Pens came on board as one of several South West companies to explore India market.
Before Scanning Pens established their Indian office, UKIBC carried out a market feasibility study to enable them to better understand the Indian market and the potential for their product. This involved learning about the demands and intricacies of the Indian market, as well as where an Indian subsidiary might be best located, considering the discrepancies between Indian states in laws, regulations, education standards, and structures.
Subsequently, in March 2018, we organised a series of meetings with NGOs, Government & private organisations and distributors catering to the varying needs of children with dyslexia across Mumbai and Delhi, thus enabling Scanning Pens to benefit from our excellent Indian network.
Scanning Pens later elected Mumbai as their Indian base, and with the help of UKIBC were able to set up their office earlier this year.
Now, owed to the success of their products and services, Scanning Pens has been able to expand their Indian operation. For this, UKIBC extend our warmest wishes and will continue to work with Scanning Pens where support is required to continue their successful operations in India.