CoAsia Signs Business Agreement with India's Fintech Association and SFAL
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[Seoul=Newsis] Reporter Kim Kyung-taek - System semiconductor design specialist CoAsia is joining hands with the Indian government to promote the local semiconductor industry.
CoAsia announced on the 26th that it has signed a business agreement (MOU) with the Semiconductor Fabless Accelerator Lab (SFAL), a fabless support association in India.
With this agreement as a starting point, CoAsia plans to accelerate its entry into the Indian market. The company plans to establish a local office in Delhi, India, as a key hub and accelerate cooperation with SFAL and Samsung Foundry towards product development.
In particular, through collaboration with SFAL, CoAsia plans to actively participate in semiconductor-related projects in India, such as securing IT human resources, discovering promising local fabless startups and IP (design assets) companies, collaborating with global partners of SFAL, and participating in government-supported projects. CoAsia expects various business opportunities to arise in the future, especially as the Indian government directly leads SFAL with the goal of fostering the semiconductor industry.
SFAL is a fabless industry support association operated by the Indian government. It is responsible for promoting local fabless startups, encouraging the creation and development of semiconductor products and IPs, and building the semiconductor ecosystem with government support. In addition, various support measures are being implemented to foster the local semiconductor industry in India, including matching demand and supply companies, semiconductor-related education programs, and workforce development.
A CoAsia official said, "India is actively promoting semiconductor industry development at the government level, recognizing that entry into the semiconductor industry is essential for its growth as a future advanced industrial nation." He added, "With SFAL playing a key role in this national initiative, we expect this agreement to lay the groundwork for CoAsia's rapid entry into the growing Indian market."