Bengaluru, The National Association of Software and Services Companies (Nasscom) CoE-IoT Thursday 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.
"Nascomm looks forward to accelerate this critical partnership by facilitating Taiwanese companies to set up in India and create business opportunities with the budding startups," Nasscom Vice President (Global Trade Development) Shivendra Singh said.
India's growing startup ecosystem and expansive software enterprise base coupled with the Taiwan's leadership can create new possibilities and opportunities of tech innovation and growth, COE-IOT CEO Sanjeev Malhotra said.
"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," Shi-Ming Huang of university said.
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 and electronic components leading to mutual success and greater market access.