Hysea plans to raise corpus fund

HYsea (Hyderabad software exporters association) announced that it was planning to raise a corpus fund. The creation of the fund will co-incide with HYSEA's announcement that it was setting up a world class campus and facility for incubating technology companies. HYSEA will intially raise Rs 5 crore for the corpus fund.

In a press release, HYsea said that its immediate goal would be to establish the fund officially and communicate guidelines of the fund. HYsea will contribute Rs 10 lakh to the initial seed fund and would appoint trustees to the fund after a thorough and official search process.

HYsea will also begin a grassroots campaign for NRI support and is also slated to raise about Rs 50 lakh from within its member base.

Additionally, HYSEA has also insisted that each member in the association will need to get a quality certification apart. To set an example HYSEA itself will be ghoing in for an ISO 9001 certification this year.

This apart HYSEA has pointed out that it will be establishing an excellent secretariat, an incubation centre so that it could attract the best and the brightest from India and abroad.

The HYSEA corpus fund is expected to allow the current industry leaders to establish a foundation and framework for the industry leaders of tomorrow to accomplish the vision of making Andhra Pradesh the world's intellectual capital.