In order to achieve ambitious organization growth, companies are eyeing overseas expansion. One such company is an emerging robotics company Quantum International Corp. Quantum is looking for exciting new business opportunities in growing economic powerhouse Chile that has become a world leader in the economic recovery process since the global economic slowdown four years ago. The country witnessed GDP growth of 5.6 percent year-over-year in the first quarter of 2012.
Such economic growth may soon prove important to attain the organization's ambitious expansion strategies. Along with the impressive economic growth, Chile possesses a wealth of robotics resources, which includes the robotics and autonomous systems program at University of Chile in Santiago. The nation’s robotics research initiatives are mainly related to Chile's booming mining industry. Quantum International Corp. is working to develop the next generation of robotics technology to compete in a booming global industry.
In a press release, Robert Federowicz, Quantum CEO, said, “The Chilean government is a strong supporter of developing business sectors, as the nation's enticing economic growth prove. The robotics industry is no exception. The country's world-class universities, diverse population and labor costs rivaling China's make Chile a prime locale for an emerging robotics company such as Quantum to do business.”
Quantum International has capitalized on U.S. government initiative to fund robotics development that could bring $70 million into the company's assets in the form of a funding cooperatively from four different government agencies. With such a strong subsidy, Quantum is confident that it can make a commercially viable robotics technology sooner rather than later.
Recently, Quantum International was in news when it signed a letter of intent with the Industrial Research Institute for Automation and Measurements (PIAP) in Warsaw, Poland, to potentially help commercialize robotics technologies. PIAP has been devoted to developing the implementation of research in automation and robotics in industry.
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Edited by Rachel Ramsey