Odisha's Quest to Attract Global Tech Leaders Shall Transform State’s Future

Palo Alto, 27th July 2023: Odisha is all set to be a Global IT & Semiconductor Hotspot as many large IT and Semiconductor MNCS have expressed their Investment Intension in the State. This has been informed during the discussion of the Government of Odisha delegation with top Silicon Valley Industry leaders from various fields such as IT, semiconductor design and automation, VC, professional services, AI/ML, and 5G.

Leaders Cadence Design Systems, Integreon, Celano.io, eFabless Corporation, and many other MNCs participated in these discussions. The delegation interacted with various software service companies including majot IT MNC Cognizant Technology Solutions (CTS). Delegation interacted with Cognizant CEO Ravi Kumar and showcased the advantages of Odisha for a possible footprint for Cognizant (CTS) in the State.

The delegation met with PR Patel, promoter of Global HDI PCB Manufacturing Inc., US, and a former executive at Intel. The delegation provided him a comprehensive account of Odisha’s advantages, ranging from natural endowments to generous incentives and an investment friendly climate. 

After detailed discussions, Patel expressed his intent to set up an HDI-PCB manufacturing facility in the state with a cumulative investment of approximately Rs. 4,360 crore (~530 million USD) over a period of 7 years.

An estimated 3,500 jobs would be generated through this investment along with ancillary benefits such as strengthening and development of a semiconductor ecosystem. HDI PCBs are a type of Printed Circuit Board (PCB) that offers a higher wiring density per unit area compared to traditional circuit boards and are particularly useful in complex, high-performance products that require high-frequency signal transmission. Patel’s team will soon make a visit to Odisha for site inspection. 

In another meeting, the delegation interacted with  Subroto Mukerji, CEO, Integreon. With operations in the US, UK, India, and Philippines, the firm specializes in performing outsourced services of corporations and law firms.

It provides services such as contract management, legal operations support and document review to law firms and business intelligence and research to corporations.Letter of Intent (LoI) have been received from Integreon for setting up of its Offshore Development Centers of 500 Persons capacity in Odisha to offer AI/ML derived business insights to clients. 

Later, the delegation had a discussion with Rajeev Shah, CEO and Co-founder of Celona.io, a pioneer and leading innovator of enterprise private wireless solutions credited with developing the industry’s first 5G LAN system.

The delegation briefed him on the advancements Odisha has made in extending high-speed network connectivity to even the most remote regions of the state. As per discussions, Government of Odisha will facilitate joint research projects between Celona and top Odisha institutions in fields of 5G and Industry 4.0 and also help the company establish a CoE in Bhubaneswar in the said domains. 

Focusing on the objective of developing a chip ecosystem in the state, the delegation had an extensive conversation with Michael Wishart, CEO, eFabless Corporation. The company offers a platform which enables a global community of chip experts and non-experts to collaboratively design, share, prototype and commercialize special purpose chips. 

The discussion was very fruitful, and the company will submit proposals for collaboration in two potential areas. In order to accelerate semiconductor learning from high-school to university and make it more experiential, accessible, affordable, and fun, the company plans to start a 6-week program that provides end-to-end learning experience in semiconductor design and fabrication.

Such a program will make Odisha’s youth industry-ready and greatly increase their employment prospects. eFabless Corporation and Government of Odisha will also collaborate on the O-Chip program, and the company will provide support to accelerate IP development, with particular focus on IP for emerging applications such as AI/ ML. 

During an event hosted by the Consulate General of India, San Francisco and focused on the numerous opportunities in Odisha, the delegation interacted with over 50 leading executives of the Silicon Valley and highlighted the growth and expansion possibilities which exist in Odisha today.

The participants were greatly impressed to hear about the rapid strides Odisha is making and offered their whole-hearted support to propel its growth story even further. 

Underscoring the importance of receiving advisory support and insights from industry veterans, the delegation engaged in a very constructive discussion with Lip-Bu Tan, a world-class leader, semiconductor/deep tech visionary, and renowned venture capital investor based in Silicon Valley. He is the Founder and Chairman of Walden International (WI), a prominent venture capital firm managing cumulative capital commitments exceeding $4 billion, and a former CEO of Cadence Design Systems.

The delegates showcased Odisha's strong infrastructural advantages, efficient supply chain logistics, strategic location of Odisha as center in Asia map, and progressive semiconductor sector policies to Tan, who on his part, shared invaluable insights into the latest trends in AI/ML, life sciences, semiconductor industry investments, technology, and workforce training.

 The insights garnered from these discussions are expected to shape strategic decisions and initiatives aimed at bolstering the semiconductor and deep tech landscape in Odisha.

In a detailed discussion with the delegation, Shiva Ramani, CEO, iOPEX, a digital services provider with offices in San Jose, Philippines, Chennai, Bangalore, and Gurgaon and 4000+ global employees, outlined his plans to set up their Offshore Development centre of 500 headcounts in Bhubaneswar and will soon submit Letter of Intent (LoI) in this regard. The delegation assured him all possible support in facilitating their initiatives in the State. 

In nutshell, the visit of Government of Odisha delegation to U.S. is going to be game changer for the State's IT and ESDM sector as discussion with many global MNCs have become very successful. As a result Odisha is all set to host Who is Who of the global IT & Semiconductor companies to create a wave of huge employment opportunities in the State soon.