Bavaria, a state in southeastern Germany, is exploring business horizons by forging new alliances in the form of technology, business collaborations and exchange of ideas.
Addressing a select group of industry captains at an interactive session organised by the Bangalore Chamber of Industry and Commerce (BCIC) in Bangalore, Bavaria sent out an open invite to Indian Start Ups to explore business horizons by forging new alliances in the form of technology, business collaborations and exchange of ideas in the sectors of Information Technology, especially in the segments of Internet of Things (IOT) and Artificial Intelligence (AI).
Over 40 Industry captains representing different industry verticals interacted with Bavarian representatives to explore business opportunities in the Invest Bavaria event organised by BCIC.
Bavaria is also opening its doors to sectors like Pharmaceuticals, Medical technology, Automotive and Engineering, among others with Bavarian counterparts.
Quintus Bartscherer, Managing Director, QUBA GmbH who made a presentation on business opportunities in Bavaria said “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.”
John Kottiyal, Executive Director, State of Bavaria-India Office, Bengaluru said since the city is the IT Hub and Munich Capital of Bavaria shares the same parallel of being the IT and Start up hubs, Bavaria is very keen on having business tie-ups in the IT sector. “Bavaria is also opening its doors to sectors like pharmaceuticals, medical technology, automotive and engineering, among others with Bavarian counterparts,” he added.
Kishore Alva, President BCIC & Joint President and Executive Director, Adani – Udupi Power Corporation said that “Bavaria and Karnataka share a few parallels like Bavaria and Karnataka are both considered great investment destinations for IT, biotech, medical technology and aerospace.” “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,” he added.
Alva further said “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 said that the Indo-Bavarian bilateral relationship has been growing rapidly over the last several decades and Bavarian companies, on their part, consider India as a reliable and promising economic partner.