Business   

Nasscom, ICICI Knowledge Park to set up venture fund

CHENNAI: The National Association of Software and Service Companies (Nasscom) and ICICI Knowledge Park are setting up a $25 million venture capital fund to help start-ups that are in the intellectual property (IP) space. The fund, to be registered with the SEBI will look after the brick-and-mortar costs of start-ups, according to Nasscom officials.

Nasscom expects large firms to contribute towards this growth. At present, the anchor investors are being finalised and, in fact, two companies have been selected. The size of the fund will be $50 million. Nasscom has proposed a state-of-the-art Science and Technology Park to be set up by the Government of Delhi at the Netaji Subhash Institute of Technology (NIST) in Dwarka covering over 30 acres.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

FM: 9 p.c. growth possible
SBI’s Rs. 16,000 cr. rights issue approved
IBM opens centre for differently-abled
RBI issues guidelines for engaging recovery agents
Sensex rallies further on buying
India Pistons forms JV with MAHLE of Germany
Nasscom, ICICI Knowledge Park to set up venture fund
ITC keen on acquisitions
Exchange Rates
Bullion Rates
Reliance Power gets LoI
Consumer Price Index remains static
Inflation climbs to 3.21 p.c.
Panna-Mukta-Tapti gas price fixed
Securitas acquires stake in Walson Services
CUB joins Cash Tree network of ATM
Carrier to invest $50 m in India
Wipro in pact with BAE Systems
GM opens design studio

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu