Indian IT Startups, Get call from German State Bavaria for Alliances
Bavaria, known to be a beautiful state in southeastern Germany, is now calling for expanding its business horizons conceptualizing neoteric alliances as a pattern of technological skills, business collaborations and exchange of ideas. Bavaria, wanted to enhance the outcome and performance of the future of development, therefore, Bavaria sent an open invitation to the Indian Startup markets by addressing a select group of industry captains through an interactive session upheld by the Bangalore Chamber of Industry and Commerce(BCIC), in Bangalore. This deal was to implement and forecast the business exploration horizons by forging new alliances as technological concepts, business collaborations and exchange of ideas in the areas of AI(Artificial Intelligence) and IoT(Internet of Things).
Bavaria also wanted to expand its foot in the areas of Medical Technology, Automotive and engineering, Pharmaceuticals, among others with Bavarian counterparts. the event organised by BCIC was an enormous out growth that over 40 different industries interacting with Bavarian representatives wanted opportunities on the door of investing in Bavaria.
Quintus Bartscherer, Managing Director, QUBA GmbH who made a presentation on business opportunities in Bavaria exclaimed, “We have developed a legal framework for business entities to establish in three different segmentations namely Representative office, Branch office or a Corporation that facilitates and guarantees protection of investments because we are interested in developing a long-term relationship with investors.” Kishore Alva, President BCIC & Joint President and Executive Director, Adani – Udupi Power Corporation marked “Bavaria and Karnataka share a few parallels like Bavaria and Karnataka are both considered great investment destinations for IT, biotech, medical technology and aerospace”. He further notified, “Similarly, Bavaria and Karnataka are both patent champions in their own rights. Bavaria has the highest number of startups, while Bengaluru is considered a Mecca for start-ups contributing to a sizeable number of new ventures launched in India. It make pure business sense for both partners to collaborate and explore business opportunities”.
Alva further claimed, “We assure you that we shall work with you to support your country’s business agenda, by way of forging new joint ventures and alliances in the form of technology transfer, business collaboration or exchange of ideas.” Kottiyal, also marked that the Indo-Bavarian bilateral relationship has been growing rapidly over the last several decades and Bavarian companies are all considering India as a reliable and promising economic partner as there development and strategic movements.
Hence Bavaria plays an essential and also crucial role by involving Indian Startups as its conceptualization further for its approved growth and development.