Medtech startup Instashield has signed a Memorandum of Understanding (MoU) with Montgomery County, Maryland, US, to expand its business in the foreign market, the medtech startup notified in a statement today.
The MoU was formally signed by Hitesh Patel, Managing Director, Instashield, and Marc Elrich, County Executive, Montgomery, Maryland, in the presence of delegations from both the US and India. It paves the way for collaboration in several areas, including providing international soft-landing and economic development programmes to support market expansion activities in the US, as well as introducing valuable business networks and resources.
The agreement was supported by the US-India SME Council during the Economic Development Trade Mission to India. The mission, led by Elrich, and Elisha, CEO, US India SME Council, involved more than 25 business and government leaders from the US.
The primary objectives of this trade mission were to foster partnerships with growth-oriented technology businesses, facilitate research and development opportunities, enhance sales and market expansion activities in the US, and explore collaborations with suitable organisations in various sectors, including biotech, healthcare, cyber, Artificial Intelligence (AI) and cleantech.
Hitesh Patel, MD, Instashield, said in the statement, “With our innovative medical device technology, this agreement represents a significant step towards combatting against viruses and preparing for any future pandemics on a global scale. We are grateful to both Montgomery County and the US India SME Council for their encouragement and support in promoting startups like us.”
