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Forum Views - Aug 2024

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FORUM VIEWS - AUGUST 2024

Taiwan: Taiwan is a center of semiconductor manufacturing,

led by TSMC. Taiwan's focus on hardware innovation and

manufacturing excellence has made it an integral part of the

global high-tech supply chain. Taiwanese start-ups have

achieved success in the hardware, IoT and biotech sectors.

Gogoro, an electric scooter company, is revolutionizing urban

mobility, while Appier is providing AI-powered marketing

solutions to businesses around the world

challenge: a shortage of IT personnel. The rapid expansion of

the start-up ecosystem is outstripping the supply of skilled

professionals, creating a gap that needs to be addressed to

sustain growth.

I has myself been one of the contributors to the start-up

ecosystem in Japan, and through my experience, I am

convinced that the piece that is most lacking is human

resources.

There is a shortage of around 300 000 IT professionals in

Japan. If current trends continue, this gap is expected to

widen to 790 000 by 2030. South Korea is facing a shortage

of around 200 000 IT specialists due to the growing demand

for technical personnel in line with the drive for the fourth

industrial revolution. And Taiwan is also short of 150,000 IT

workers.

India's large pool of highly skilled professionals makes it an

attractive destination for global companies looking to utilize

human resources: its emphasis on STEM (science,

technology, engineering, and mathematics) education and

its thriving IT industry creates a strong workforce. Below are

some of the key reasons for the high demand for Indian

talent.

High-Quality Education: Leading Indian institutions such as

the Indian Institutes of Technology (IITs) and the Indian

Institute of Management (IIM) produce graduates with high

technical and managerial skills. These institutions are

recognized worldwide for their rigorous academic standards

- IITs and IIMs are iconic, but there are so many other

excellent institutions in India.

English Language Proficiency: Being fluent in English, the

global language of business, makes Indian professionals

more accessible and easier to integrate into multinational

teams. This linguistic advantage facilitates smooth

communication and collaboration.

Leadership: Indian Leadership comes from a diverse

environment and can embrace heterogeneous values.

Individuals are different but can move forward by utilizing

differences to create a larger framework. The leadership that

Indians have is important for building businesses globally.

Collaboration between Japanese, South Korean and

Taiwanese companies and Indian high-tech talent is

underpinned by several synergies that benefit both parties:

Complementary Strengths: Japanese, South Korean, and

Taiwanese companies bring technical expertise,

infrastructure, and access to global markets. Indian

professionals bring skills, creativity, and leadership.

Together, they form a powerful combination that drives

innovation and efficiency.

Attractiveness of Indian Talents

Collaboration Synergies

Despite the impressive growth,

these countries face a major

challenge: a shortage of IT

personnel. The rapid expansion of

the start-up ecosystem is

outstripping the supply of skilled

professionals, creating a gap that

needs to be addressed to sustain

growth.

Booming Start-up Ecosystems in Japan, South Korea and

Taiwan

Start-up Investment

Shortage of IT Talents

The start-up ecosystems in Japan, South Korea and Taiwan

have experienced significant growth in recent years. Each of

these countries has invested heavily in the start-up sector,

indicating a focus on fostering innovation and

entrepreneurship. Start-ups from Japan, South Korea, and

Taiwan play an important role in fostering collaboration with

Indian talent. They are agile, innovative, and often open to

cross-border partnerships. By utilizing India's vast pool of

skilled professionals, these start-ups can accelerate their

growth and bring innovative products to market.

In 2023, Japan invested over USD 10 billion in start-ups,

setting a new record. The government and private sector are

supporting this through various funding initiatives and

policies to encourage entrepreneurship.

South Korea, known for its strong tech infrastructure,

attracted around USD 6 billion in start-up investments in

2023, becoming a hub for tech start-ups focused on

innovation and digital transformation.

Taiwan's start-up ecosystem is also growing, with

investments reaching approximately USD 2 billion in 2023.

The country is leveraging its strong manufacturing and tech

sectors to boost its start-up scene.

Despite the impressive growth, these countries face a major

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