Paving the way among top 36 : The Tech-Rocketship Awards 20162 min readReading Time: 2 minutes
The India UK TECH Summit 2016, India’s largest knowledge and technology conference and exhibition, was held in New Delhi from 7 to 9 November 2016. This event is supported by the Government of India and the Confederation of Indian Industry (CII), which provides a platform for promoting technology-intensive trade and investments between the two countries.
The Hon. Prime Minister of India, Narendra Modi and the British Prime Minister Theresa May, inaugurated the summit. She said, “As Prime Minister Modi pursues his ambition for Smart Cities, Digital India and Make in India, in Britain we are focused on economic reform, social reform and building a country that works for everyone.”
Get My Parking was felicitated among the exceptional 36 startups from over 600 across India. GMP also outshined among the top 10 winners which were awarded with an all expenses paid business development trip to the UK. This will see British and Indian entrepreneurs, experts and leaders in various fields related to technology converge and drive the future for both the countries.
Rising as India’s Domestic Market Leaders, this international limelight would mark a giant leap for Get My Parking. Going international, our digital parking solutions would not only suffice the parking chaos suffered overseas, but also bring out changes at a global platform in terms of reducing pollution, improved utilization of human workforce, cutting down the time lapsed during space searches to mention a few. The three key benefits that could result from implementing smart parking in UK are quantified as approximately £166 million in increased parking revenue, £259 million in annual economic benefit from parking time savings alone, and 112,000 tones per year CO2 emission reduction. Further, a financial analysis on investing in smart parking found a 24% internal rate of return (IRR) over ten years and a timeline of only four years to break even on costs.
As Get My Parking gains its foot in India and now moves towards the international market, the global mindset towards parking is likely to go “digital”and help define digitization in various domains likewise serving direct and indirect job creation, additional time savings to commuters, increased capacity to the transport network, and improved public safety from less distracted driving.
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