Singapore is wooing Indian IT companies, including start-ups and entrepreneurial ventures, to set up base in the country and is even offering a 'dollar for dollar' investment incentive for the purpose.
The government of Singapore is working through several local agencies like the Infocomm Development Authority to position the country as a place where Indian IT companies could set up business continuity centres.
It is also promoting Singapore as a place that would give them easy access to other important geographies due to its ideal location and infrastructural ad vantages.
"We are trying to present Singapore as an attractive destination for Indian IT companies. More than 6,000 multinational companies already operate out of Singapore, and many of these are existing clients of Indian IT companies," Mohan Mirwani, country director (India), IDA, Singapore, said.
"At the same time we believe in incentivising the industry to propel growth. We hope that the measures we undertake would play an important role in e-enabling the economy as a whole," Mirwani added.
The government has chalked out a policy whereby any IT start-up company setting up base in the country would receive an equal amount of investment from it up to an extent of $300,000.
However, the key factor in these cases would be the company's intellectual property, which has to be commercially viable.
Already, around 60 Indian companies have availed of this facility, including Encore Solutions, the company that makes Simputer.
Additionally, the government through its funding agencies like the Economic Development Board, is also willing to co-finance projects in the pilot stage on the same 'dollar for dollar' basis.
It would also fund customers of IT companies on similar lines if the benefits and savings of IT implementation is tangible.
Singapore is also looking at tying up with domestic Indian IT companies through partnerships, strategic alliances and joint business ventures in the areas of e-governance, etc.
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