Enterprise Hub Network - Case History
Thames Valley Enterprise Hub
Susan Elliott
Rishtec Ltd
Company Background
Rishtec designs and tests hardware, software and networking systems for the automotive industry, including the communications network that controls and integrates entertainment/infotainment systems within vehicles
MD Hari Parmar and his colleagues had been formally working for a company delivering entertainment and information networking technology to the automotive sector.
A change of business focus in his employer’s organisation together with a desire to concentrate on his core interests led Hari to establish Rishtec, which is based in The Reading Enterprise Centre, University of Reading, London Road Campus, London Road, Reading, in 2007.
Rishtec has a projected turnover in the first two year of business of between £200,000 to £300, 000 and it has already landed a contract with Jaguar Landrover.
Work with Enterprise Hub
Tracey Sanderson, Thames Valley Enterprise Hub Manager, said: “Hari is a very creative person who is receptive to new opportunities and open to ideas and advice as to how best maximise the potential that these opportunities provide for his business.
“Rishtec is unique in this sector in being independent and not tied to any particular vehicle or systems manufacturer but has considerable experience across a range of brands. This is attractive to many vehicle manufacturers. The company is experiencing higher than forecasted growth which, while bringing some operational issues, highlights the potential demand for, and long-term prospects of, this business.”
She said the Enterprise Hub had helped Hari with:
- Strategic and commercial planning to manage above forecasted company growth
- An Enterprise Hub Mentor (2007)
- Peer Group mentoring
- Provision of networking events
- Specialist tax advice via a Tax Clinic
Hari said: “The Enterprise Hub has been tremendous. I come from a technical background and the Hub has helped me to focus on my business goals, costing, managing the business and being strategic. We have had a lot of moral support from the Hub also which has given us the confidence to forge ahead.”
What’s next
Rishtec has recently secured a contract with Jaguar Land Rover which is likely to be extended over the next 18 months and is building on that success by networking and extending his contacts within the automotive industry.
First, Hari is establishing a firm and solid customer base in the UK. Then, with assistance from UK Trade and Investment - which helps UK businesses succeed in international markets - Rishtec is exploring opportunities in the Far East where, with their technology and expertise, they can take advantage of this emerging market.
