MESA, AZ--(Marketwire - Mar 20, 2013) - Iveda Solutions, Inc., (OTCBB: IVDA) today announced the opening of its Innovation Lab at the Taiwan campus of the prestigious Industrial Technology Research Institute (ITRI).
Founded in 2003, Iveda Solutions manages an enterprise-class, cloud video hosting infrastructure and provides innovative solutions for security, operations, and marketing.
David Ly, president and CEO of Iveda Solutions, and Dr. Cheng-Wen Wu, Vice President and General Director of Information and Communications Research Laboratories at ITRI, participated in an all-day event, including a ribbon cutting ceremony to commemorate the opening of the Innovation Lab.
At the ceremony, Ly said, "It's an honor to be here. I thank everyone for this wonderful opportunity and I look forward to many years of continued innovation, and more importantly, the commercialization of all the great technologies we have here."
Iveda Solutions was introduced to ITRI by Megasys, its subsidiary in Taiwan. Shortly thereafter, the two entities signed a collaboration agreement to work on specific cloud video projects. In the past year, the team has made remarkable progress.
The all-day event included joint presentations by ITRI's and Iveda Solutions' engineers on the progress of cloud video projects they have been working on.
Iveda Solutions is launching some of the new products at the ISC West show in Las Vegas this coming April.
"We're all very excited to foster engineering innovation and launch it to the world," added Ly.
"In the past, our technologies have been used for government projects. We are glad for this opportunity to explore new markets with Iveda Solutions and look forward to a very successful partnership," said Dr. Wu.
After the ceremony, Ly met with Ching-Yen Tsay, ITRI's Chairman of the Board of Directors.
"I am very supportive of the collaboration between ITRI and Iveda Solutions. Beyond the development of innovative Inter Cloud video technology, this relationship is very unique because it also represents innovation in business strategy for ITRI. With Iveda Solutions' experience and knowledge of what end users really want, together we can develop technology to address real-world needs. This collaboration allows for faster adoption and commercialization of innovative products and services," said Chairman Tsay.
ITRI is a nonprofit research and development organization engaged in applied research and technical services. Founded in 1973, ITRI has played a vital role in transforming Taiwan's economy from primarily labor-intensive industries to high-tech industries. ITRI has aggressively researched and developed countless next-generation technologies, including WIMAX wireless broadband, cloud technologies, solar cells, radio frequency identification, light electric vehicles, flexible displays, 3-D integrated circuits and tele-care technologies.
As the future of cloud computing rapidly matures, ITRI and Iveda Solutions are combining strengths in technology and marketplace awareness to better identify and integrate innovative technology solutions that leverage the scalability of the cloud.
"In this collaboration, ITRI and Iveda Solutions hope to bring to market very tangible cloud technology whose value and benefits an end user can immediately appreciate," said Chairman Tsay.
About Iveda Solutions, Inc.
Iveda Solutions, Inc. (OTCBB: IVDA) is a premier online surveillance technology innovator and an enterprise-class cloud video hosting provider. Based in Mesa, AZ, with a subsidiary in Taiwan (MEGAsys), Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com.