While a country such as the U.S. has plenty of venture capital available and
does not need government funds to promote entrepreneurship, countries such
as India can learn from the Singapore government's VC initiative (see
story). Even though the Indian government does not have similarly large (VC)
funds, I hope the powers-that-be take a cue from this article, released by
Reuters, a few hours ago.
Singapore sets up $1 billion tech venture fund
SINGAPORE, April 8, 1999 (Reuters) - Singapore was committing US$1 billion
to a new venture capital fund to boost entrepreneurship in high technology
industries, Deputy Prime Minister Tony Tan said on Thursday. ``To further
develop the venture capital industry in Singapore, the government will
establish a US$1 billion technopreneurship investment fund (TIF), to signal
our commitment to technopreneurship development,'' Tan told a news
conference.
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For those of you interested in the full story, it is available at
http://www.mercurycenter.com/svtech/news/breaking/merc/docs/015519.htm
Tushar J. Mehta
email: [email protected]
voicemail: (425)558-1101