ACTIVITIES OF COSIDICI
i) COSIDICI launched its website on April 07, 2000. The website was inaugurated by Smt. Sheila Dikshit, Hon'ble Chief Minister of NCT of Delhi and contains comprehensive information regarding the promotional and developmental scheme of the state governments and state level corporations for setting up of industries and thus serves as a useful guide to the potential investors from inside and outside the country. It also indicates statewise investment opportunities and incentives available to the prospective entrepreneurs. 

The Website includes profiles of all the 56 state level institutions which are member corporations of COSIDICI. Hyperlinks to the websites of the Corporations, who have hosted their own websites, have also been provided from the COSIDICI website. The website thus helps the entrepreneurs in deciding upon the location and nature of project to be set up and invites them to invest anywhere in India. The launching of this comprehensive website has been made possible due to the grant-in-aid of Rs.2.28 lakhs provided by SIDBI to COSIDICI for the purpose. 

ii) The inauguration of the website was followed by the Executive Committee meeting of COSIDICI. The Executive Committee acknowledged with thanks the financial assistance of Rs.2 lakh granted by IDBI to COSIDICI for setting up of technical library and Information/Documentation Centre at COSIDICI Headquarters. It was decided that a library sub-committee consisting of the following be formed to equip the centre with the relevant books and material:- 

a) Dr. D.C. Misra, IAS 
CMD, DFC, New Delhi

b) Shri V.K. Gupta, IAS 
MD, J&K SFC, Srinagar

c) Dr. Vishwapati Trivedi, IAS 
MD, MPFC, Indore 

d) Shri K.K. Mudgil, 
SG, COSIDICI 

iii) The Information Technology Revolution has changed the way the companies do business. E-commerce i.e. the use of Computers and Telecommunications for routing business transactions is the norm rather than a luxury. Our member corporations have recognised the need of the hour and have, therefore, introduced the process of computerised and online transactions etc. To enable our member corporations to achieve a smooth and early switchover of their business transactions to the techniques of e-commerce, a need was felt for COSIDICI to provide them with necessary facilities and opportunities to change over to the new system. It was, therefore, proposed to set up an India Internet Institute as a subsidiary of COSIDICI (COSINET) to create awareness among the member corporations about the current IT revolution and disseminate necessary information and knowledge about these techniques. The Institute would also provide practical training to the officers of our member corporations with the recent trends and developments in e-commerce and electronic data inter-change. The Executive Committee approved in principle the proposal to set up COSINET as a subsidiary of COSIDICI. 

iv) A need to organise Study Tours for our member corporations in India and abroad to acquaint them with the emerging business opportunities particularly in the field of Information Technology has been under active consideration of COSIDICI for quite sometime. The Executive Committee in its meeting held on 07.04.2000 approved in principle the proposal to organise Study Tours for Senior Executives of our members in India and abroad. It resolved to constitute a corpus of `Study Tour Fund' to enable COSIDICI to sponsor and organise Study Tours in India and abroad. The E.C. resolved that the member corporations may be requested to contribute Rs.2 lakhs each towards the corpus latest by May 31, 2000 to enable COSIDICI to organise a tour in July 2000. 

v) The existing premises of COSIDICI are insufficient to fulfill all the objective of COSIDICI which as an apex body must provide need-based services to its constituents such as training facilities, consultancy services, conference facilities, technical library and information centre etc. Besides, a need has also been felt to provide some office space to the visiting Chief Executives/ Senior Executives of our member corporations. With a view to accomplish the objectives enshrined in the Memorandum of COSIDICI, it was considered necessary for COSIDICI to construct its own building at New Delhi and accordingly a proposal was placed before the E.C. and the same was approved. COSIDICI had approached DDA for allotment of a plot of land in the Institutional area for constructing its own building. It has been learnt that DDA has almost agreed to offer a plot of land admeasuring 1000 sq. mtrs. to COSIDICI in Vasant Kunj Institutional Area at a total cost of Rs.45 lakhs. The E.C. expressed its happiness over this development and resolved that each member corporations may contribute not less than Rs.1 lakh towards the building fund. The E.C. resolved to constitute a project sub-committee which will be responsible for overseeing the project and will comprise of the 
following :- 

a) Dr. D.C. Misra, IAS 
President COSIDICI &
CMD, DFC, New Delhi

b) Shri Sudarshan Sareen 
Chairman DSIDC, New Delhi

c) Smt. Qudsia Gandhi, IAS 
MD, SIPCOT, Tamilnadu

d) Shri S.K. Nanda, IAS 
MD, GSFC, Gandhinagar

e) Shri P.K. Gupta, IAS 
MD, HFC, Chandigarh

f) Shri K.K. Mudgil 
Secretary General, COSIDICI

vi) A meeting of the Editorial Board of COSIDICI COURIER was held on April 11, 2000. The Board expressed its satisfaction with the new cover of January-February 2000 Issue of the Courier and felt that the supplement of the Issue containing the IT Bill 1999 would further enhance its reader value. Dr. D.C. Misra, Chairman of the Board informed the Members that IDBI had granted Rs.2 lacs to COSIDICI to set up an Information/Documentation Centre at its Headquarters for the benefit of its member corporations. It was decided to purchase books of enduring value with the grant money for the Centre.

Venture Capital Funding n India

According to an estimate, there are at most 70 companies that are directly or indirectly involved in ventre capital funding in India. Many of these funds are registered which the Indian Venture Capital Association (IVCA) whole website vea.net is under contruction. Few of these funds can be discribed as silicon valley-style venture capitalists. Not all of these funds are targeted at information technology (IT). 

According to another report, thus are eventially four segments for venture funding in India : (i) over was private equity players (investments of more than 3 million dollars), (ii) local venture funds bached by local financial institutions, (iii) funds run by overceas companies (which in vest slightly les than 3 million dollars), and (iv) angel investor segment (typically investing less than one million dollars).