The National Association of Software and Services Companies (NASSCOM) CoE-IoT today announced that it has signed an intent of cooperation with Taiwan-India Artificial Intelligence Technology Innovation Research Center, Taiwan’s largest University and incubator of Startups under the National Chung Cheng University.
The demand for technology-based components and semiconductors in high-tech and auto sectors has increased manifold post the pandemic. Disruptions in global supply chains and uncertainties is adding to the overall challenges for the sector. Aimed at incubation support, mentorship and market access, the collaboration between NASSCOM CoE IoT and Taiwan-India Artificial Intelligence Technology Innovation Research Center will help Indian tech startups to source hardware components from Taiwan during their prototyping or production 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 the Taiwan’s leadership in Semiconductors/Hardware and deep-tech, could create new possibilities and opportunities of tech innovation and growth. “
Sharing this thoughts on the day, Representative of Taipei Economic and Cultural Center (TECC) Mr. 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 the field of 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 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 further strengthen the ties between Indian and Taiwanese companies, promoting ease of doing business. This will also enable Taiwanese companies to set up business in India and enhance collaboration between the two nations to source hardware & electronic components leading to mutual success and greater market access.
The signing ceremony was inaugurated by Shivendra Singh, Vice President, Global Trade Development, NASSCOM along with opening addressal by H.E. Mr. Gourangalal Das, Director General, India Taipei Association and H.E. Mr Baushuan Ger, Taipei Economic and Cultural Center in India (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 (熊博安) Vice Director, Taiwan-India Artificial Intelligence Technology Innovation Research Center, National Chung Cheng University amongst others, graced the signing ceremony.