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NASSCOM proposes innovation fund
By siliconindia
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Thursday, 08 February 2007, 18:30 IST
Mumbai: Nasscom, in a bid to promote innovation in information technology, is proposed to set up Rs 100 crore fund.
Kiran Karnik in a statement announced that this first-of-its-kind initiative by the apex body, the fund would be supported by the industry and would be driving innovation by IT company.
IT innovation is slowly gaining momentum in India and innovation is the next imperative to sustain growth and maintain the edge of Indian IT industry in the global market he added.
Meanwhile, seven companies would be awarded for their innovation in information technology by the Prime Minister Manmohan Singh on February 9.
The seven finalists, selected from a shortlist of 18 companies are Bharti Airtel & IBM India, Evalueserve.com, HP Labs India, Ittiam Systems Pvt Ltd, Kale Consultants, Strand Lifesciences Pvt Ltd and Monsoon Multimedia India Pvt Ltd.
Bharti Airtel and IBM India were selected for the business model under which the telecom major outsourced all of its IT operations to IBM, while Evaluserve.com was selected for its business intelligence services, customized reports and value-added research catering to different industry verticals.