The Hindu Business Line : Intel sets up $250-m fund for start-ups in India

CHIP maker Intel has formed a $250-million Intel India Technology Fund that would be used for venture capital investment in technology start-ups in India, according to Mr R.K. Amar Babu, Director Sales & Marketing Group, Intel South Asia.

Speaking to reporters at Infocom 2005 Conference and Exhibition here, Mr Babu said Intel was eager to provide venture capital to technology start-ups here. The process would begin soon.

According to him, the Bangalore centre of Intel had developed the next generation chipsets that would be used in the next gen laptops. The company was also engaged in designing an appropriate PC that would be used in community computer centres of the Government, he said.

Earlier, speaking on a session on `IT Everyday for Everyone', Mr Babu said the IT community in India could well expect a more demanding future. IT adoption in India would be facilitated by the prevailing culture, entrepreneurial spirit, education system and technology adoption by business and industry. If IT for everyone were to become a reality, different models - such as the personal usage model, shared computing model, community computing model and the business computing model - would have to be pursued.

"India must leverage on the advantage of its talent offerings and not on its cost-advantage," Mr Babu said.

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