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Deloitte Tohmatsu Venture Support To Send Expatriate to Bengaluru, India
Helping Japanese corporations partner with start-ups in India and expand into local markets
15 April, 2024
Deloitte Tohmatsu Venture Support Co., Ltd. (“DTVS”), a Deloitte Tohmatsu Group company, announced that starting from April 2024 it sends expatriate to Bengaluru, Karnataka State, in India. Leveraging this new location in India, the firm intends to work closely with local organizations to help Japanese corporations partner with start-ups in India and expand into local markets.
Having overtaken China in 2023, India is now the most populous nation in the world, offering ample growth potential. The preliminary figure for real gross domestic product increased by 7.6%*¹ year-on-year in the second quarter of 2023 (with 2011 as a base year), marking 12 quarters of consecutive growth. As a network of public organizations, research institutions, and venture capitalists has already rapidly built an extensive ecosystem to support start-ups, India now boasts 110 unicorn companies*² with more than one-billion-dollar market cap within 10 years of the business launch. In fact, India is now the third largest country in terms of the number of unicorns, following US and China.
DTVS has been keeping an eye on this dramatically growing market and facilitated business alliances among leading corporations and investors from Japan and start-ups in India, for example, through “Morning Pitch*³” events launched in 2018. These efforts have led the firm to build stronger ties with the local start-up ecosystem. In addition, as part of global collaboration among Deloitte Tohmatsu Group in Japan and Deloitte firms around the world, the global practice of Japanese Services Group*⁴ has long been offering advisory services on tax, regulations, and other areas of business to Japanese multinationals in Bengaluru.
Together with DTVS’s existing expatriates in Silicon Valley, Singapore, and Israel, the newly sent expatriate to Bengaluru, also known as the “Silicon Valley of India,” will add to DTVS’s strengths in accumulating insights and supporting start-ups. Working closely with the Japanese Services Group and Deloitte India, the firm will continue to build on its capabilities, whether it be cross-border alliances among Japanese corporations and start-ups in India, Indian corporations’ expansion in Japan and the rest of Asia, or Japanese corporations entering the Indian market.
Deloitte Tohmatsu Venture Support is committed to serving Japanese corporations as they gain a competitive edge in the international market while playing its part in driving growth of the Japanese market.
About the Office in Bengaluru
Address: Prestige Trade Tower, 19th FL, Muncipal No. 46, Ward No. 77, Palace Road, Sampangiram Nagar, Bengaluru , Karnataka, 560,001, India
Tel: +91(80)-6627-6387
Office inaugurates: on April 15, 2024
Contact: Takahisa Ohira, Managing Director, Global Department
Overview of Deloitte Tohmatsu Venture Support
Name of the Company: Deloitte Tohmatsu Venture Support Co., Ltd.
Established: December 24, 1997
Paid-in Capital: 10 million yen
Representative: Yuma Santo, President
Head Office: Marunouchi Nijubashi Building, 3-2-3 Marunouchi, Chiyoda-ku, Tokyo
URL: https://www2.deloitte.com/jp/en/pages/about-deloitte/articles/dtvs/dtvs.html
*1 Source: Ministry of Statistics & Programme Implementation, announced on November 30, 2023 https://pib.gov.in/PressReleasePage.aspx?PRID=1981170
*2 Source: Invest India https://www.investindia.gov.in/indian-unicorn-landscape
*³Morning Pitch Asia https://asia.morningpitch.com/
*⁴ Japanese Services Group https://www2.deloitte.com/jp/en/pages/global-business-support/articles/about-jsg.html
Press Inquiries
Deloitte Tohmatsu Group Media Relations: Imura and Kikuchi
Tel: 03-6213-3210 Email: press-release@tohmatsu.co.jp
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