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IIT Delhi sets up Linkage with BVG Advisors
(New relationship to work with IIT Delhi to seek companies for investment and business support)
New Delhi, India – January XX, 2004: FITT at IIT Delhi has signed an MOU with BVG Advisors an Indian affiliate of Beacon Technology Ventures, (www.btechventures.com), a US based fund located and affiliated with the BU Photonics Center (www.thephotonicscenter.com)
Beacon Technology Ventures is actively seeking investment opportunities in US based communications and IT companies that are seeking to open their development operations in India. The goal is to have the development operations located at IIT Delhi’s Technology Business Incubator Unit and leverage the research capabilities, facilities and IIT Delhi network to make the company successful. The target profile of the company would be later stage VC-backed companies that are close to or already cash flow positive and are seeking to leverage low cost development resources in India.
Beacon Technology Ventures with Indian fund management company Ventureast Advisors and support from McKinsey & Company is also creating a new fund that will be linked with IIT Delhi and other research institutions in India and US.
“Our relationship with BVG Advisors enhances IIT Delhi capability to support entrepreneurial activity by our alumni, faculty and student,” stated Dr Arya K Sengupta, Managing Director of FITT. “We encourage alumni to contact us with business ideas”.
For information related to FITT, please visit FITT website www.fitt-iitd.org or contact Dr. Prof K D P Nigam, Managing Director Email: kdpnigam@chemical.iitd.ernet.in. For information related to Beacon Technology Ventures, please contact Mr. Alok Prasad, President, Beacon Technology Ventures, Email: aprasad@btechventures.com
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