The Hindu Business Line : Naidu moots Challenge Fund

THE Chief Minister of Andhra Pradesh, Mr N. Chandrababu Naidu, on Tuesday asked the Asian countries to set up a Virtual Technology University to provide high quality education at affordable cost.

"This university should forge linkages with the best international institutions to offer courses and training relevant in disciplines that offer economic opportunities for the future," he said, addressing the second Asian IT Ministers Summit here.

He also called for setting up a `Challenge Fund' for developing countries in the region to finance "cutting edge applications in the areas of connectivity and health, enhancing the quality of life of the poor."

"The poor are often excluded from the research and development efforts of major corporates due to the lack of purchasing power. The proposed fund could provide the necessary incentives for companies to engage in R&D that could influence the lives of the poor," the Chief Minister said.

He also felt the need for `embedding' the fledgling entrepreneurs from the developing countries into the top IT companies to give them closer insights that could help them run their own companies successfully.

Later addressing newsmen, he said the hardware sector needed both financial and infrastructural incentives.

Asked about his Government's plan to increase the rural connectivity, he said use of the bandwidth of cell service providers could be an option.