Latest news with #GlobalStartupExchangeProgramme
Time of India
a day ago
- Business
- Time of India
German firm plans to open its first tech centre in India at Indore
Indore: A German tech firm announced plans to invest at least $8 million to establish a technology centre in Indore, marking its first setup in India. Another Berlin-headquartered technology company also expressed interest in establishing a technology centre in the state, focusing on the service sector.A delegation of five German technology companies visited Indore on a week-long trip concluding on August 22 under the state's Global Startup Exchange Programme. They held meetings with officials from the industries department and key tech firms on Tuesday. The delegation is part of the memorandum of understanding signed between Madhya Pradesh Industrial Development Corporation (MPIDC) and Germany India Innovation Centre (GIIC) during the Global Investors Summit held in Bhopal in Feb 2025. GIIC managing director Siddharth Bhasin said, "The objective behind this visit is locking some good deals and collaboration. German investors are exploring opportunities to share technology and expertise with tech companies of Indore. India is primarily known for its IT services, but the collaboration with German firms could aid in establishing firms working on product development in healthcare, edtech, and others." Speaking on the sidelines of an industry meeting in Indore, the German tech firm, Q-nnect AG chief product officer Andre Lange said, "We want to set up a tech centre in Indore and be part of building an ecosystem in the state of Madhya Pradesh. The estimated cost of the tech centre is between $8-10 million, and this facility will make the state more competitive for attracting investments from more tech firms." German AI and software development companies stated that the presence of IT giants like TCS, Infosys and Infobeans, among others in Indore — a home to more than 1000 big and small IT firms—makes the place suitable for German investments and collaborations. "I have explored Bengaluru, Hyderabad, and other Indian cities and found Indore well suited as it has talent due to the presence of IIT and IIM, ease of doing business, and favourable policies for tech companies," said Lange. Another German tech company stated they are in advanced talks with a homegrown listed IT firm for collaborating on technology sharing, soft training, and providing advanced services to clients. "We are in talks with an Indore-based IT giant for collaborating with them with a focus on the services sector. We are also planning to set up a tech centre but have not decided on the location. We are considering Indore seriously because this place has good availability of talent and, most importantly, this is not saturated, which makes it a great place to operate," said Joanna Maja Morzy, marketing and operations lead at Talonic. German tech firms mentioned that the tariffs imposed by the United States will help further strengthen the business relationship with India and pave the way for new avenues for other nations. The German delegation held closed-door meetings and workshops with homegrown IT company Infobeans, followed by interactions with other tech firms and industry department officials at the office of MPIDC. MPIDC Indore executive director Himanshu Prajapati said, "The govt is playing a supportive and encouraging role in international partnerships and technical cooperation. The operating cost in Indore is much lower compared to metro cities, while the city's liveability makes it even more attractive for entrepreneurs and investors to work here. As the digitization of data in India is still in its early stages, and data duplicity affects accuracy in the long term, the country is currently focusing on the integration of AI and data-driven services." "We are finding immense opportunities to collaborate on the AI side. We will help some of them with their go to market strategy in India and to our customers. German companies are doing some really good work on the generative AI side," said Infobeans co-founder Siddharth Seth.
Time of India
2 days ago
- Business
- Time of India
German firm plans to open its first tech centre in India at Indore
Indore: A German tech firm announced plans to invest at least $8 million to establish a technology centre in Indore, marking its first setup in India. Another Berlin-headquartered technology company also expressed interest in establishing a technology centre in the state, focusing on the service sector. A delegation of five German technology companies visited Indore on a week-long trip concluding on August 22 under the state's Global Startup Exchange Programme. They held meetings with officials from the industries department and key tech firms on Tuesday. The delegation is part of the memorandum of understanding signed between Madhya Pradesh Industrial Development Corporation (MPIDC) and Germany India Innovation Centre (GIIC) during the Global Investors Summit held in Bhopal in Feb 2025. GIIC managing director Siddharth Bhasin said, "The objective behind this visit is locking some good deals and collaboration. German investors are exploring opportunities to share technology and expertise with tech companies of Indore. India is primarily known for its IT services, but the collaboration with German firms could aid in establishing firms working on product development in healthcare, edtech, and others. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it better to shower in the morning or at night? Here's what a microbiologist says CNA Read More Undo " Speaking on the sidelines of an industry meeting in Indore, the German tech firm, Q-nnect AG chief product officer Andre Lange said, "We want to set up a tech centre in Indore and be part of building an ecosystem in the state of Madhya Pradesh. The estimated cost of the tech centre is between $8-10 million, and this facility will make the state more competitive for attracting investments from more tech firms." German AI and software development companies stated that the presence of IT giants like TCS, Infosys and Infobeans, among others in Indore — a home to more than 1000 big and small IT firms—makes the place suitable for German investments and collaborations. "I have explored Bengaluru, Hyderabad, and other Indian cities and found Indore well suited as it has talent due to the presence of IIT and IIM, ease of doing business, and favourable policies for tech companies," said Lange. Another German tech company stated they are in advanced talks with a homegrown listed IT firm for collaborating on technology sharing, soft training, and providing advanced services to clients. "We are in talks with an Indore-based IT giant for collaborating with them with a focus on the services sector. We are also planning to set up a tech centre but have not decided on the location. We are considering Indore seriously because this place has good availability of talent and, most importantly, this is not saturated, which makes it a great place to operate," said Joanna Maja Morzy, marketing and operations lead at Talonic. German tech firms mentioned that the tariffs imposed by the United States will help further strengthen the business relationship with India and pave the way for new avenues for other nations. The German delegation held closed-door meetings and workshops with homegrown IT company Infobeans, followed by interactions with other tech firms and industry department officials at the office of MPIDC. MPIDC Indore executive director Himanshu Prajapati said, "The govt is playing a supportive and encouraging role in international partnerships and technical cooperation. The operating cost in Indore is much lower compared to metro cities, while the city's liveability makes it even more attractive for entrepreneurs and investors to work here. As the digitization of data in India is still in its early stages, and data duplicity affects accuracy in the long term, the country is currently focusing on the integration of AI and data-driven services. " "We are finding immense opportunities to collaborate on the AI side. We will help some of them with their go to market strategy in India and to our customers. German companies are doing some really good work on the generative AI side," said Infobeans co-founder Siddharth Seth. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
4 days ago
- Business
- Time of India
German tech firms visit state for startup exchange
Bhopal: Five prominent German tech firms have landed in the state for a week-long visit under the state's Global Startup Exchange Programme, in what the govt hopes will be a beginning of innovation, investment and jobs. Tired of too many ads? go ad free now The visit that will conclude on Aug 22 is expected to strengthen trade and cooperation between MP and Germany, foster strategic partnerships with local enterprises and open new avenues for technical exchange and investment. CM Mohan Yadav said the delegation's presence would serve as a bridge to new possibilities in artificial intelligence (AI) and digital transformation. "This collaboration will infuse fresh energy into research and innovation in the state, and generate employment." "This initiative is not merely the beginning of technical cooperation, but the foundation of a comprehensive innovation journey for Madhya Pradesh. The transformative partnerships emerging through global knowledge exchange and cutting-edge technology will empower the state's start-ups and entrepreneurs to access international markets," the CM said. The delegation includes Steven Renwick of Tyler, Nicholas of Talonic, Alexandra K Mikityuk of Staex, Matthias Progscha of Qnnect-AG, and Philip Rejmus of Cloud-Squid. "These companies are globally recognised for their expertise in artificial intelligence-based data integration, workflow automation, IoT and connectivity solutions, enterprise software, and document processing AI technology," stated an official statement issued here on Sunday.
