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Sabeer Bhatia plans 1000-cr. biotech JV

CHANDIGARH: Mr Sabeer Bhatia, who gave the world its first free e-mail service Hotmail, plans to set up a Rs 1000-crore software venture in bio-technology in collaboration with the Trident Group in Punjab.

The US-based entrepreneur met Punjab Chief Minister Amarinder Singh here on Friday and put forward his project.

Mr Bhatia said that India had tremendous growth potential that remained untapped so far due to the lack of enterprising spirit and innovative skills.

Pointing out that the Indian market had just two per cent share in the international intellectual market, he said the country had a capacity to capture 30 to 40 per cent of the sector.

The Chandigarh-born software professional also rated the technical education in India at par with the developed countries.

Mr Bhatia shot to fame after he sold Hotmail to Microsoft for 400 million dollars and walked into Silicon Valley Hall of Fame a little over two years ago.

Capt Singh assured him all support and cooperation for the proposed joint venture.

UNI

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