Gujarat's IT Industry seeks venture funding

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Bangalore: The IT industry in Gujarat has hunted for venture funding from the state government. In the initial round of meeting between the industry and the state government representatives from the Department of Science and Technology (DST) as well as Gujarat Informatics Limited (GIL), the industry has also sought help from the government in setting up software and hardware testing laboratory in Gujarat, reports BS. The IT industry is not that large in Gujarat, which makes it difficult to get bank loans. Hence, they approached the state government representatives for some sort of venture funding. As the meeting had a optimistic approach from the government, the proposals which were prepared keeping in mind the new IT policy of the industry, may most likely be incorporated into the draft being prepared for the upcoming new IT policy. As the current IT policy announced in November 2006 is nearing its completion by November 2011, the state government intends to announce a revised policy.

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