Teco Group (東元集團) yesterday said it had formed an industrial alliance with companies in China in a bid to rival Silicon Valley in the US in the field of cloud computing services.
The group, whose flagship unit is the nation’s leading maker of industrial motors, Teco Electric & Machinery Co (東元電機), launched a cloud intelligence exhibition in Taipei’s Nangang Software Park (南港軟體園區), as it seeks to explore cloud computing business opportunities.
“Our goal is to build networks with cross-strait businesses to construct cloud computing valleys in Shanghai, Taipei and Qingdao,” Teco chairman Theodore Huang (黃茂雄) said at the launch ceremony.
“We believe the cross-strait ‘Cloud Valley’ will create many business opportunities, not only for large, but also small and medium-sized enterprises, helping transform Taiwan’s industrial structure from manufacturing to smart computing-oriented industries,” he said.
In September last year, Teco teamed up with SCI Straits Construction Investment Ltd (海峽建設), Farglory Land Development Co (遠雄建設), Chunghwa Telecom Co (中華電信), Shanghai Jiao Tong University Science Park Co Ltd (上海交大科技園), Huawei Technologies Co (華為) and International Business Machines Corp to form the cloud computing industrial alliance.
Citing International Data Corp data, Farglory chairman Chao Teng-hsiung (趙藤雄) said it is estimated that cloud computing technology will generate US$600 million in gross value to the global market by 2016, a 50 percent increase from US$300 million by next year.
“We expect more businesses to come to visit this exhibition, witness cloud computing technology’s evolution and join the alliance to develop platforms that integrate all the sectors into one unit,” Chao said.