BHUBANESWAR: A team comprising renowned techno-entrepreneurs from Silicon Valley, USA, called on Chief Minister Naveen Patnaik here on Friday with a proposal for setting up a technology innovation centre in the city.

The proposed technology innovation centre, to be named Silicon Park, will be a business incubator dedicated to supporting growth and development of early stage technology-based businesses.

The project will bring Silicon Valley's business model, know-how and expertise to the country. It will be one of a kind setup to incubate, design, develop, and manufacture semiconductor products for the global markets. Mr. Patnaik welcomed the proposal and assured full support for the project. The founders of Silicon Park who met the Chief Minister include Chandra Reddy, designer of the plasma TV chip, and Damodar Reddy, first Indian to set up a semiconductor company in USA.

The centre will provide an entrepreneurial business environment that fosters collaboration among young innovators, while respecting the independence and self-reliance that will motivate entrepreneurs. It would make the capital city a mini Silicon Valley of the country with a culture that supports risk taking, invention and creation of wealth, they said.

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