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Non-Tech : ICICI Ltd - (Nyse: IC)

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To: Mohan Marette who wrote (45)1/28/2000 7:31:00 PM
From: Mohan Marette  Read Replies (1) of 494
 
ICICI in incubator thrust, angles for start-ups

(Saturday, January 29, 2000)

Vivek Law in Mumbai

Leading financial institution ICICI Ltd has decided to make a major foray into the area of incubating and investing in Internet start-ups.

These start-ups, which would be hand-held by the ICICI (meaning, the institution will guide the entrepreneur in converting his idea into a viable entity, before it seeks venture capital funding), will not necessarily be confined to the financial services sector.

Close to 3,000 applications have been received from prospective entrepreneurs and these are being processed by the newly formed E-commerce group of ICICI headed by treasury head, Nachiket Mor.

business-standard.com
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