HCL Technologies (HCLTech) on 4th Oct 2023 entered into an agreement with Business Finland to foster innovation and advancement in generative AI, metaverse, space technology, and quantum technologies. This strategic pact further solidifies HCLTech's footprint in the Nordic region.
Under the agreement, Noida-based HCLTech will gain early access to emerging technologies and innovations originating in Finland, according to a statement.
This collaboration aims to provide Finnish companies and tech startups with the opportunity to introduce their solutions to global enterprises through HCLTech's expansive Innovation Network, known as eSTiPTM. This network includes over 1,500 startups, more than 14 venture capitalists, over 16 trade commissions, and five academic institutions on a global scale.
HCLTech has been collaborating with businesses in the Nordics since 2008, helping enterprises embark on their digital transformation journey and improve operational efficiencies. This alliance further strengthens the IT services firm’s presence in the Nordic region, providing them with early access to emerging technologies and innovations in Finland.
The Nordic countries, including Finland, Sweden, Norway, and Denmark, have become attractive destinations for Indian IT services firms. In fact, the Finnish government in 2022 invited Indian tech professionals to migrate there for work, offering opportunities as global tech companies lay off thousands of employees.
Finland also aims to increase work-based migration and study-based migration by 2030. Business Finland too previously signed a memorandum of understanding with the Confederation of Indian Industry for talent mobility in December 2022.
IT major Tata Consultancy Services (TCS) said in March this year, it has over 20,000 employees supporting leading enterprises in the Nordic countries to drive growth and transformation. They have also been recognized as a Top Employer in the region.
Infosys, another prominent IT company, is also expanding its presence in the Nordics. They recently established a new proximity center in Oslo, Norway, as part of their continued expansion plans in the region. The center aims to re-skill and upskill local talent to work on global opportunities using next-gen technologies like cloud, AI, IoT, 5G, and software engineering. In addition, Infosys completed its acquisition of Danske Bank's IT center in India in September, following a $454 million contract with the Nordic-based bank.
Another IT company Tech Mahindra's research and development arm, Makers Lab, established a quantum center of excellence (CoE) called QNxT in Helsinki, Finland in April last year. The purpose of this center is to leverage Finland's expertise in quantum computing and accelerate the commercial use of quantum computers globally. The primary focus of the QNxT center is to provide training, education, testing, and R&D in quantum computing.
“We have always helped clients and startups in their growth roadmap by connecting both parties through digital innovation solutions. By aligning innovative technology solutions with clients' needs, both parties can create a robust business ecosystem to grow and ensure business continuity,” said Kalyan Kumar, Global Chief Technology Officer and Head of Ecosystems, HCLTech.
The collaboration with Business Finland to bring the latest Finnish startup technologies, like Gen AI, quantum technologies and space technologies, to the global market, he added.
HCLTech and Business Finland will explore joint initiatives to empower startups with informative trends and insights on emerging technologies and help them market their solutions globally.
