Intel outlines $1-billion multi-year investment plans

By Our Infotech Bureau | 06 Dec 2005

New Delhi: Intel Corporation''s chairman Craig Barrett unveiled a multi-year investment plan for India totaling more than $1billion. This investment demonstrates Intel''s long-term commitment created during its 10 years operations in India.

"We will grow our local operations, boost venture capital investments and work closely with the government, industry and educators to increase the impact of the country''s information and communications technology (ICT) industry," says Barret . Intel''s $1 billion-plus, multi-year investment roadmap includes plans to invest $800 million over the next five years to expand business operations in India. Investments will focus on expanding the research and development centre in Bangalore in addition to marketing, education and community programmes.

Citing the importance of venture capital investments in developing an IT nation, Barrett also announced the creation of the $250-million Intel Capital India Technology Fund to help stimulate local technology innovation and growth. The investments will focus on Indian hardware and software companies to nurture technology development for local use.

The fund will also selectively invest in technology-oriented service companies that target overseas markets.

Along with Intel''s investment of over $700 million in India over the past 10 years, Intel Capital has provided funding to more than 40 companies in seven Indian cities since it started investing in 1998.

To expand its business operations in India, Intel will increase its development activities and staffing at the Intel India Development Centre (IIDC) in Bangalore over the next five years. The IIDC focuses on hardware and software engineering for Intel products sold globally

With its increased presence Intel also announced a program supporting local communities. Its ''volunteer matching grant programme'' encourages employees to volunteer in local schools. For every 20 hours an Intel employee volunteers at a school, $50 will be donated to the institution by the Intel Foundation.

Funded solely through donations from Intel, the foundation works to strengthen engineering and computer science education and increase participation in these fields by women and under-represented minorities, improve mathematics and science education for elementary and secondary students, and foster the effective use of computer technology in education.

Investing in education and providing 21st century skills for students are fundamental components to the nation''s continued growth and prosperity, says Barrett. Intel will increase its efforts over the next three years to train teachers to use technology through the Intel Teach to the Future programme.

Over the next three years Intel will train an additional 500,000 teachers, doubling the number of teachers that have completed the programme over the past five years. Intel will also expand its after-school, community-based Intel Learn

According to Barrett, these investments, community programmes and collaborative efforts will create an environment that fosters innovation and entrepreneurship, and will help bring India''s Technology Vision 2020 to fruition. "We look forward to working with government and industry leaders to help generate India''s next phase of growth," Barret adds.

Intel, the world''s largest chip maker, is also a leading manufacturer of computer, networking and communications products.