New South Wales (NSW) Premier Dominic Perrottet and the Minister for Enterprise, Investment and Trade Stuart Ayres recently met with Indian tech companies in Bengaluru, Karnataka, which is India’s largest startup ecosystem, with around 5,000 startups.
This meeting was to promote collaboration between the state of NSW and India to encourage business partnerships.
NSW Premier Perrottet said in a statement that his state is working to attract Indian technology investment across various subsectors such as edtech, MedTech, fintech, and space technologies. Mr Perrottet added:
“We are focused on linking the NSW and Indian technology ecosystems and through the expansion of our international network and programs we are providing better support for NSW exporters to reach their target markets and help open more doors. Through these networks we have helped facilitate four new tech partnerships between NSW and Indian firms. I’d like to congratulate these businesses and welcome more like these.”
While Medtech is a leading sector in NSW contributing $2 billion to our state’s economy, it is Quantum computing that is a fast emerging sector in NSW. Experts believe that by 2040 Australia will potentially have 16,000 quantum jobs generating $4 billion in revenue.
Currently, the two-way trade between India and NSW has now reached $4.6bn. To further assist NSW businesses seeking trade and investment opportunities in the Indian market, NSW has opened its NSW office in Mumbai.
The four new tech partnerships between NSW and India are as follows:
- HCL Technologies has signed a Memorandum of Understanding with the Sydney Quantum Academy o strengthen HCL’s Quantum computing capabilities through education and development opportunities including internships for Australia-based students from Sydney Quantum Academy member universities.
- Cicada Innovations and Mach33.aero have signed a collaboration agreement to provide launch pad support to startups and medium-sized enterprises.
- Birth Beat has formed a partnership agreement with Cloudnine hospitals to promote its online maternity training programs in India.
- SkinDNA has entered a three-month trial program with Kosmoderma Healthcare Private Limited.
In relation to the business meeting and MoUs with Indian technology companies, Minister for Enterprise, Investment and Trade Stuart Ayres said that such events “provide an opportunity to showcase NSW technology capabilities to potential partners and investors.”
Mr Ayres said Sydney is Australia’s technology hub and a thriving technology sector with innovative precincts like Tech Central and our Startup and Scaleup Hubs making our state even more attractive to companies looking to grow in the Asia-Pacific region,”
“Being on the ground in India has given us the opportunity to discuss with Indian businesses the growing opportunities available and see firsthand the important role our Going Global Export Program and international offices play in bringing business and partners together.”
Bengaluru, the epicentre of India’s IT-enabled services, is the world’s fourth largest tech cluster and has 40 per cent of all startup venture capital in India.
