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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10002)	12/11/1999 2:05:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Startup fund has eye on Indians Courtesy:South China Morning Post A S$1 billion (about HK$4.6 billion) fund may help Indian information technology (IT) professionals start new companies in Singapore. Singapore's National Science and Technology Board (NSTB) established the fund to attract talent in IT and communications in a bid to replicate Silicon Valley. "The idea is how do we leverage the capital that Singapore has, to develop entrepreneurs in India for mutual benefit," said Jamshyd N. Godrej, a member of the Confederation of Indian Industry (CII) group that focuses on trade with Singapore. Singapore wants the CII to help identify Indian IT professionals to whom it can offer funds from the $1 billion chest to start new businesses in Singapore, CII director-general Tarun Das said. "They want Indian entrepreneurs in [the] IT sector to come here. We're going to market this [plan] to people in India who can come here and set up businesses which will help Singapore's economy," Mr Das said. India, too, could gain from the partnership. CII wants IT professionals in Singapore to start businesses in India where staff costs are cheaper than Singapore. "Labour being more expensive here, we're trying to find whether there are some advantages of Singapore entrepreneurs going and setting up their own thing there," CII president Rahul Bajaj said. India also wants Singapore to establish more technology centres in the country after its first venture, in Bangalore, helped it become the nation's software capital. Some of India's best-known software companies are based there. Singapore helped build the software centre with India's Tata group.