One of the leading SaaS giants, Zoho, is planning to make rural expedition in Easter UP via setting up an Research & Development (R&D) team by end of this year, said cofounder and chief executive officer Sridhar Vembu on August 5.
"There is vast talent waiting for opportunity everywhere in Bharat. We want to create world-class R&D capability wherever we go and there is a speed limit to how fast you can scale up R&D teams and it is not at all like scaling up manufacturing plant," Vembu said in a post on X.
Vembu added, "We are going to Eastern UP this year, our first major rural expedition North. I wish we could have a meaningful presence everywhere and may be over the next 20 years we will get there. That is my dream."
Earlier, Zoho has launched their AI R&D centre in Kottarakkara in Kollam district, Kerala. Kerala Startup Mission (KSUM) and Institute of Human Resources Development (IHRD) had collaborated with Zoho Corporation to set up the park that aims at harnessing local talents by training them in cutting-edge technologies.
To the successful set up of the centre, Vembu said, "We are doing well in Kottarakara in Kerala."
Meanwhile, news agency Reuters, citing sources, reported in May that Zoho is planning a foray into chipmaking and seeking incentives from the federal government with a likely investment plan of $700 million.
Zoho, established in 1996 and now headquartered in Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes of Microsoft and Salesforce.
It is the latest company to seek financial sweeteners from the government to set up a chip fabrication plant .Semiconductors are a key plank of India's business agenda, with a $10 billion package in place to boost the industry as it hopes to compete with countries such as Taiwan in a few years.
As per the report, Zoho is proposing to manufacture compound semiconductors, which have specialized commercial applications and are made from alternatives to the more-commonly used silicon in chipmaking.
Zoho made annual revenue of over $1 billion in the financial year ended March 2023, according to media reports. In February, India gave the go-ahead to construction of three semiconductor plants worth over $15 billion by firms including Tata Group and CG Power, with plans to manufacture and package chips for sectors including defence, automobiles and telecommunication.
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