The Hindu Business Line : Showcasing Indian ITES skills to Silicon Valley investors

ERNST & Young and The Indus Entrepreneurs (TiE) have announced a joint initiative to introduce Indian technology and IT-enabled services (ITES)/ business process outsourcing (BPO) companies seeking financial intervention and expertise, to the Silicon Valley Investment Community in the US.

For the first time, Ernst &Young Global Hotbed Cross-Border Showcase, which is to be organised in California, has been opened to Indian companies. Ernst & Young's Global Venture Capital Advisory Group is showcasing the initiative.

The annual forum, the third in a row from Ernst & Young is scheduled on November 4, 2004, a joint press release by Ernst & Young and TiE has said.

It will bring around 40 technology companies from the innovation hotbeds of India, China and Israel, to meet Silicon Valley investors in a day-long programme that will feature company presentations, panel discussions and networking sessions.

Mr Rajiv Memani, CEO and Country Managing Partner, Ernst & Young India said, "Recognising the immense potential of India's technology sector, Silicon Valley investors are increasingly interested in Indian technology and ITES/BPO companies as investment opportunities.

Our goal in the Cross-Border Showcase is to help the most promising Indian start-ups to make connections with the top US Venture Capital Funds and corporate investors. The forum will provide dedicated time to Indian firms to present their growth and investment plans to these investors."

Ernst & Young is partnering with TiE, the global network of entrepreneurs and professionals to identify and recruit Indian start-ups for this programme.

Through its 13 city chapters in India, TiE is helping Ernst & Young to increase the Indian entrepreneurial community's awareness of this first-time opportunity, represented by the cross-border showcase.

Said Mr Sridar Iyengar, President of TiE, "The Cross-Border Showcase aligns with TiE's global mission to support entrepreneurs.