"This is a visionary program to enable India to leapfrog to the league of world class computing power nations. The Mission would be implemented and steered jointly by the Department of Science and Technology and Department of Electronics and Information Technology at an estimated cost of Rs.4500 crore over a period of seven years," read a government statement. The Mission envisages empowering our national academic and R&D institutions spread over the country by installing a vast supercomputing grid comprising of more than 70 high-performance computing facilities. These supercomputers will also be networked on the National Supercomputing grid over the National Knowledge Network. The NKN is another program of the government which connects academic institutions and R&D labs over a high speed network. The Mission also includes development of highly professional High Performance Computing aware human resource for meeting challenges of development of these applications. Currently, in the top Supercomputing machines in the world, a major share is taken from advanced countries such as the U.S., Japan, China and the European Union.
IIM Calcutta to Seed Fund Winners of International Business Plan Contest<\b>
In an acknowledgement of the rapid growth of startups in the business environment, IIM Calcutta will seed fund the winning teams at its international business plan competition. Till date, the winners participating at the competition organized by the entrepreneurship cell of IIM-C have been given prize money of Rs. 1 lakh. This year though, IIM-C, through the Singapore based venture capital firm Govin Holdings will invest Rs. 50 lakh in the three winning entities for an equity stake in each of them. The next 10 winning teams will receive another Rs 10 lakh as seed funding. All these entities and their concepts will be incubated at IIM-C's innovation park. "This year onwards along with mentoring and handholding by our faculty, the winners will receive funding from our investment partner," says Ashok Banerjee, Dean, IIM-C. Business proposals for i2i (Ideas to Implementation) have doubled to 300 as compared 150 last year, including 10 international entries. A US-based team has qualified for the semi-final round. IIM-C has set a target of incubating 50 start-ups in five years.