Sivan Securities, BoA launches technology incubator

BANGALORE: Sivan Securities and Bank of America Equity Partners-Asia (BAEP)

have announced the formation of Global Technology Ventures (GTV), an IT

incubator to create, build and mentor the development of Indian technology

companies. GTV will provide basic infrastructure facilities, managerial talent

and guidance to nurture and develop the IT companies in India. The new venture

expects to support companies ranging from early stage start-ups to later stage

enterprises.

As part of the initiative, GTV is building a 59-acre global village incubator

park on Mysore Road, Bangalore. This new campus is intended to serve as a `plug

and play' facility to support the infrastructure and related needs of IT

companies and entrepreneurs. The first phase of the village will be completed in

the next five months. The investment made in this venture was not disclosed.

The companies which are taking part in this initiatives includes, MindTree

Consulting, Liqwid Krystal, VidhyaCom Technologies, Ionic Microsystems, Kshema

Technologies, Ivega Corporation, NetMagic, Arzoo.com, Microcon, Srujana

Technology Pvt. Ltd., Way2Wealth, ShaadiOnline.com, Karna.net, Magnasoft, NLE

Technologies and Duet Networks etc. For the selection process, GTV will have a

10-member external advisory board.