Date:21/09/2006 URL: http://www.thehindu.com/2006/09/21/stories/2006092119800400.htm

Andhra Pradesh - Hyderabad

New scheme for entrepreneurs soon: YSR

Special Correspondent

U.S. Consulate in city in a month or two, says American diplomat

ALL EARS: Chief Minister Y.S. Rajasekhara Reddy speaking to J. A. Chowdary, president of The Indus Entrepreneurs (TiE), at the inaugural session of TiE-ISB Connect-2006, at the Indian School of Business in Hyderabad on Wednesday. — Photo: Mohd. Yousuf

HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy on Wednesday said a new scheme would be launched to cater to the needs of entrepreneurs and their start-up companies.

Inaugurating the second The Indus Entrepreneur (TIE) and Indian School of Business (ISB) Connect 2006 with the theme, "Sculpting Ideas Building Businesses", at the ISB campus, Dr. Reddy said his Government was aware of the difficulties faced by the entrepreneurs.

The three-day conference is being described as the largest networking event for entrepreneurs, investors and business leaders.

Referring to an appeal made by J. A. Chowdary, president, TIE, Hyderabad chapter, Dr. Reddy promised "to do everything possible to welcome new entrepreneurs".

Opportunities

Union Minister of State for Defence M. M. Pallam Raju spoke of the opportunities presented by the defence sector. Although public sector was providing a veritable security blanket to the needs of country's preparedness, there was immense opportunity to the private sector and enterprise to fulfil the evolving and challenging needs of the armed forces. "I would like to urge the organisers to encourage our entrepreneurs to be alive to the potential that this sector presents".

David Hopper, U.S. Consul General, Chennai, said U.S. President George W. Bush chose Hyderabad for his visit in March as it reflected the new India and the ISB as no other place would have been suitable for meeting the young entrepreneurs.

B. Ramalinga Raju, chairman of the Satyam Computer Services, spoke of the problems his generation of entrepreneurs had to face compared to the present status and promised to extend all help to entrepreneurs.

Mr. Chowdary said there would be more than 300 business presentations and over 40 venture capital companies eyeing to strike new investment deals during the conference.

M. Ramamohana Rao, Dean of ISB, also spoke.

Diplomat calls on YSR

Meanwhile, Mr. Hopper met the Chief Minister here on Wednesday evening.

During their brief meeting held at the Indian School of Business, the Chief Minister is reported to have requested the U.S. diplomat to expedite the establishment of a consulate in Hyderabad.

He pointed out that the HUDA office near the airport had already been vacated to house the consulate. Mr. Hopper said the consulate would be set up in a month or two. He thanked the Government for allotting ten acres of land at Gachibowli for construction of a permanent building for the U.S. Consulate, sources said.