A New Trend In Outsourcing
A new trend in the outsourcing industry has emerged in India. International financial organizations — especially those under the IMF or World Bank – are now starting to invest in outsourcing startups and ventures in India. This new trend will greatly benefit Indian professionals in the biotech, software and other IT fields.
One such organization, the International Finance Corporation, will invest $4 million in biotech start-ups. According to an IFC statement, the APIDC Biotechnology Fund will focus exclusively on the life sciences sector and would seek early stage opportunities in health care, drug discovery, Agriculture, dairy, environmental and industrial applications.
IFC's South Asia Director Iyad Malas said, "We hope several of the 20-25 companies the fund seeks to support will also want to partner IFC for later stage funding."
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Well thats a nice move in outsourcing. We all welcome it.
Comment by Outsourcing on March 6, 2009 10:07 pm