Odisha signs MoU with TiE Silicon Valley to attract investment in IT sector

The Odisha government has signed the agreement to develop the state as an IT hub and attract US investment.

By: Press Trust of India | Silicon Valley | Published: May 14, 2014 11:08:26 am

The Odisha government has signed an agreement with the TiE Silicon Valley as part of its efforts to develop the state as an IT hub and attract US investment.

Under the agreement, the Odisha government would have a professional stationed at Tie Silicon Valley headquarters in Santa Clara, California, thus making it the first Indian State to do so.

The TiE is a non-profit network of entrepreneurs and professionals.

“We intend to hire a business development person who will spend his time promoting Odisha as an investment destination,” said Venktesh Shukla, President of TiE Silicon Valley.

The MoU was signed by a senior delegation from Odisha that included Vishal K Dev, the Odisha Industries Secretary, and G Mathi Vathanan, Chairman-cum-Managing Director of Industrial Promotion and Investment Corporation of Odisha Limited.

“The objective is to create awareness about the potential and opportunities that exist for the IT sector in India and then to create interest in the Silicon Valley for venture capital funding and outsourcing,” said Vathanan.

He added that a team of professionals would be in Bhubaneswar dedicated for the purpose to focus on attracting investment from the Silicon Valley.

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