Hyderabad SW group to raise corpus fund

HYDERABAD: The two hndred and fifty-member strong, Hyderabad Software Exporters Association (Hysea) announced plans to focus on raising a corpus fund for the association. Rs five crore has been mandated to be its first milestone. "Hysea will contribute Rs 10 lakh as the initial seed fund and another Rs 50 lakh will be raised from the local community," said Hysea president, Shakti Sagar.

A secretariat for Hysea and an incubation center is the foremost priority for the association to meet the needs of its SMB members, said the association president.

Hysea, which expanded its charter two years ago to include the entire state of Andhra Pradesh, aims to be a model association with a campus of its own where it incubates enterprises with a focus on people, processes and technology.

On its annual day on March 8, the association organized a half-day seminar on HR best practices, which was attended by 135 members. "We are considering extending our ITES code of conduct to IT companies also," said Sagar addressing the media on the future initiatives of the association.

The association also announced Hysea Awards for the year 2002-03. The seven-member awards committee had formed two groups for evaluation in product and non-product category. The Best Product Award went to Yasu Technologies Pvt Ltd and Best Start-up Indian Company Award went to Valuemomentum Software Services Pvt Ltd, Best Indian SME- Value Labs and iSpace Software Technologies Ltd. bagged the Best Indian ITES Company award.

(CyberMedia News)