Airtel Innovation Fund launched

Bharti Airtel on Thursday launched the ‘Airtel Innovation Fund’ worth Rs. 200 crore aimed at promoting innovation and entrepreneurship in the field of telecommunications. Stating that this was the first-ever innovation fund in India specifically for the telecom sector, Bharti Airtel’s Chairman and Managing Director Sunil Mittal said the objective behind it was to provide opportunities to entrepreneurs with a vision to build businesses based on innovative ideas. “We are confident that this initiative will co-build the twin pillars of innovation and entrepreneurship to usher in a new wave of entrepreneurs in India,” he added.

“The Airtel Innovation Fund’s intent is to provide seed money to entrepreneurs who may not otherwise be able to access funds, and to serve as a vehicle to promote developments in technology, content and software applications in the area of telecommunications,” said Manoj Kohli, CEO and Joint Managing Director, Bharti Airtel.

Talking about the company’s plans for Sri Lanka, Mr. Kohli said they hoped to start operations in the island nation in 2008.

“Discussions are going on with the Sri Lankan telecom regulator and the existing operators there relating to the interconnection issue. It should be sorted out shortly. We should be in a position to start our operations there before 2008,” he added.