Britain an incubator for Indian start-up success

When Mukund Mudras ditched his well-paying day job to set up Heckyl Technologies, a real time data analytics company, in 2011, he never dreamed the company would become one of the hottest players in the world of FinTech so quickly.

“If you had told me back in 2011 that within four years we would be playing and competing against the big boys, I don’t think I would have believed you,” says Mudras.

Yet, now the poster child for successful start-ups and one of the most distruptive analytics companies around, the Indian-based company founded by Mudras and his three co-founders - Abhijit Vedak, Som Sagar, Jaison Mathews -  is leaping ahead having expanded into Britain and now bedding down plans to launch into another global financial hub, New York.

But it was Heckyl’s launch into the UK that really propelled the company into the fast track of global growth. Capturing the attention of world class investors at the UK Trade and Investment sponsored contest UKTI Calling India’s Most Innovative Companies, Heckyl was awarded the Most Innovative Company of 2013.

The prestigious award provided them with the assistance and roadmap to break into Britain, and the company hasn’t looked back, says Mudras.

“Launching into the UK market provided the catalyst to take our company from a relatively unknown startup to a globally respected and sought after analytics leader.”

“Britain has been a phenomenal launch pad for Heckyl - we have managed to get a lot of global exposure along with attracting customers like Euronext, Sungard and others. As a country it has all the elements to nurture big and small companies alike and stimulate genuine growth. For us, it was a real turning point in our company’s journey,” he said.

Just recently, the United Kingdom was recognised as the leading FinTech centre in the world, according to an independed reported published by Ernst & Young (EY). The UK bumped out seven of the world’s leading FinTech hubs to take the prodigious honour. EY attributed The UK’s No 1 ranking to a deep talent pool, the strong availability of capital for investment in Fintech Start-ups, the most supportive government policy towards Fintech, and high levels of demand from clients in London’s world-leading financial services sector.

“Bringing our business to Britain was the best thing we could have done. The team has grown from 10 to 50 people and we continue to build the team week on week. With the knowledge and experience we gathered in the UK, we have now opened our first office in the US and have a team in place.”

“We are determined to really disrupt the financial industry. This ambition will only be successful in a market that is willing to recognise and support businesses with game-changing ideas, which is why we have found our home in Britain,” Mudras said.

“My advice to anyone considering a move to the UK is ‘just do it’. And when you do, get ready to move very fast – success can come very swiftly. Particularly if you leverage the opportunities and networks that organisations like UKTI can provide.”