Nasscom CoE-IoT (Centre of Excellence for Internet of Things) 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.
“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,” said Shivendra Singh, vice president, Global Trade Development, Nasscom.
The MoU is expected to 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.