Orissa is considering setting up a Venture Capital Fund (VCF) for small and medium IT enterprises in the state. This is in line with plans to set up a National Venture Capital Fund (NVCF) for IT SMEs, currently pending with the Planning Commission (See Related Post).
Currently, the Orissa STPI (Software Technology Park of India) has a catalogue of 100 registered IT / ITeS companies, of which only 5% are in the big league and the remaining are IT SMEs.
Orissa's current software exports stand at Rs. 465 crores. Around 85% of Orissa's software export earnings are from Infosys and Satyam. Of late, TCS, Wipro, MindTree and Hexaware are also planning forays into the state. Around Rs. 1000 crores has been invested in the IT / ITeS sector in the state, as per estimates.
Read the Business Standard article.
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