Reported about 1 year ago
Many Taiwan startups are expanding overseas and venturing into the New Southbound market to broaden their horizons. Companies like the smart medical industry player, JITRI Biomedical, are actively expanding globally, centering their operations in Singapore and branching out to Malaysia and Thailand. Similarly, communication technology company, UCOTech, regards ASEAN as a crucial market and collaborates with local utilities. JITRI Biomedical, established in 2020, developed VR and MR smart medical systems to convert existing CT and MRI images into cloud-based 3D medical images. With aspirations to establish overseas presence next year, JITRI is eyeing collaboration or subsidiary establishment abroad, especially in the ASEAN market, aiming to be Taiwan's first exporter of smart medical standards. The company looks to the policy led by Minister of Economic Affairs, Kung Ming-hsin, in aiding Taiwanese businesses in overseas expansions. Partnering with Chunghwa Telecom and Microsoft, JITRI hopes for collaborations with major local enterprises in Southeast Asia. As a Taiwan Power Company supplier, UCOTech originated in communication technology and is now the largest smart meter manufacturer in Taiwan. Lin Yu-chun, Head of Corporate Marketing and PR at UCOTech, mentions that Southeast Asian governments actively seek them through local partners to establish operations in countries like Malaysia, Thailand, Indonesia, and Vietnam, which operate similarly to local power companies by meeting government demands for installations.
Source: YAHOO