Hyderabad, February 22: Telangana and Taiwan mutually tie up for an economic exchange of technology companies. MoU was inked between Telangana government and Taoyuan City, Taiwan on the sidelines of World Congress on Information Technology (WCIT), which was inaugurated by Prime Minister Narendra Modi.
By signing the agreement the Telangana government and Taoyuan City will engage in an economic exchange of technology companies. Telangana's Information Technology Principal Secretary Jayesh Ranjan and Taoyuan City Director of the Board Robert Huang signed the MoU in the presence of Telangana's Minister for Information Technology and Industries K.T. Rama Rao.
Any home-grown company of Taoyuan City which is interested in exploring the markets in Telangana and setting up operations in Telangana will be provided the necessary regulatory support and policy benefits. Similarly, companies with origin or large presence in Telangana will be encouraged to evaluate economic opportunity to set up operations with local government support.
The MoU being significant as Taoyuan has a lot of emerging technology firms and is strong in Internet of Things and robotics, has a lot of cases for implementation of new technologies, universities and research institutes.
The two sides will also have a startup exchange programme. Any technology product or application developed by a startup or an enterprise incorporated in Taoyuan City which is of relevance to Telangana will be tried and tested within a designated sample space in Telangana as a proof of concept.
"As a part of this collaboration, through the T-Bridge programme of T-Hub, Telangana government and Taoyuan City shall facilitate exchange of startups between the locations of both the parties. Support in the form of market strategy, mentorship, access to funding shall be provided through T-Bridge," said an official statement.