The National Association of Software and Services Companies (NASSCOM) CoE-IoT announced that it had signed a letter of intent to collaborate with the Taiwan-India Artificial Intelligence Technology Innovation Research Center, Taiwan’s largest university and startup incubator, which is part of the National Chung Cheng University.
Following the epidemic, the demand for technology-based components and semiconductors in the high-tech and automotive industries has skyrocketed. Global supply chain disruptions and uncertainty are adding to the sector’s overall problems.
The collaboration between NASSCOM CoE IoT and Taiwan-India Artificial Intelligence Technology Innovation Research Center, aimed at incubation assistance, mentorship, and market access, would assist Indian tech companies in sourcing hardware components from Taiwan throughout prototype and manufacturing phases.
Speaking on the occasion, Shivendra Singh, Vice President, Global Trade Development, NASSCOM said, “Given the supply chain challenges, the signing of this MoU will play a critical role in enabling our countries to institutionalize industrial collaboration leading to enhancing our ability to source hardware components, increase investments and technical cooperation on an equal and mutually beneficial basis. NASSCOM looks forward to accelerate this critical partnership by facilitating Taiwanese companies to set up in India and create business opportunities with the budding startups.”
Speaking during the signing of the MOU, Sanjeev Malhotra, CEO, COE-IOT said, “India’s growing startup ecosystem and expansive software enterprise base coupled with Taiwan’s leadership in Semiconductors/Hardware and deep-tech, could create new possibilities and opportunities of tech innovation and growth.“
Sharing this thought on the day, Representative of Taipei Economic and Cultural Center (TECC) Baushuan Ger said, “I congratulate NASSCOM and National Chung Cheng University on this promising collaboration. According to the index released by Bloomberg Economics in 2020, Taiwan ranked as having the fifth-greatest potential for economic innovation among 135 economies in the world. Given the immense potential of both economies in terms of innovation and market, I believe it is a good start and will develop a useful channel for anyone interested in AI, IoT, Big data, AR/VR, machine learning.”
Speaking on the collaboration, Dr. Shi-Ming Huang, National Chung Cheng University, said, “Given the unique strength of Taiwan in hardware manufacturing but a limited market, internationalization and vision have been somewhat lacking in the startups in Taiwan. This collaboration between NASSCOM and National Chung Cheng University is a good initial step towards fostering international collaborations among the startups across our two economies.”
The MoU will improve links between Indian and Taiwanese businesses, making it easier to do business in both countries. This would also allow Taiwanese businesses to open offices in India, as well as improve collaboration between the two countries in terms of sourcing hardware and electronic components, resulting in mutual success and increased market access.
Shivendra Singh, Vice President, Global Trade Development, NASSCOM, and Gourangalal Das, Director General, India Taipei Association, and H.E. Baushuan Ger, Taipei Economic and Cultural Centre in India, gave introductory remarks during the signing event (TECC).
Other dignitaries included Bhuvnesh Kumar, Joint Secretary, MeitY, JS-level person, Ministry of Science and Technology, Taiwan, Sanjeev Malhotra, CEO, NASSCOM CoE – IoT&AI, Gagan Sabharwal, Senior Director, Global Trade Development, NASSCOM, Navratan Katariya, NASSCOM CoE – IoT&A, and Dr. Pao-Ann Hsiung, Vice Director.