Date:15/11/2007 URL: http://www.thehindu.com/2007/11/15/stories/2007111560540400.htm

Andhra Pradesh - Hyderabad

Fund to assist start-ups in IT

Special Correspondent

HYDERABAD: A.S. Rao, Advisor, Department of Scientific and Industrial Research (DSIR), on Wednesday said that the Centre would set up a Rs.75 crore fund to assist start-ups to develop products in the fields of Information and Communications Technology.

Speaking to reporters on the sidelines of the inauguration of The Indus Entrepreneurs (TiE) – Indian School of Business (ISB) Connect – 2007, Mr. Rao said the fund would be formally launched in the eleventh plan which was likely to be finalised shortly.

DSIR will operate the fund with support from TiE, ISB and the Indian Institute of Science, Bangalore, who will evaluate projects and examine the viability. Assembly Speaker K. R. Suresh Reddyinaugurated the event.