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Article: India : Innovation fund raises Rs 40 cr in first tranche.
- Article from:
- TendersInfo
- Article date:
- November 6, 2009
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Byline: Mamta03
The India Innovation Fund (IIF) set up in January 2008 promoted by the National Association of Software and Services Companies (Nasscom) and ICICI Knowledge Park, has achieved its first closing corpus of Rs 40 crore. This will be scaled up to Rs 100 crore.
The anchor investors of IIF at the first closing are Tata Consultancy Services (TCS), IKP Trust, Department of Science & Technology and Bharti Airtel.
IIF, a first-of-its-kind national initiative, is an early-stage fund and has been created to promote intellectual property (IP)-driven innovations in frontier or emerging technologies through investments.
IIF will also ...