German authorities have decided to ease up visa restrictions for techies in about two months time and there is an immense opportunity for professionals from Asia and other regions for jobs there, according to Xavier Augustin, president and CEO y-axis.com.

Germany alone has a potential of 75,000 new jobs as of today in the IT sector while 35,000 to 40,000 new jobs are being added every year, he said announcing the launch of the new portal. In fact, euronox.com is two months ahead of the market so that job seekers can prepare themselves The company would be soon launching a similar portal for IT professionals heading for Australia, Xavier said.

Ideas2.com picks 15% in y-axis.com
Ideas2.com, an incubator fund has taken up a 15 per cent exposure in y-axis.com.

The investment is by way of Mezzanine funding for the project that was started in December 1999 to provide American visa information and placement services on-line to job seekers. "While the funding from i2dc will help us start off operations we are at the same time talking to some venture capital firms" Xavier Augustine president and CEO, y-axis.com said.

The funding is likely to tied up in about two months time, he added stating several large IT players had approached the company to participate in it, he said speaking to The Financial Express.Y-axis boasts of a membership of 1800 consultants and 70 consulting firms as of today. Revenue from the consulting firms during the first year is expected at $1.2 million, Xavier said. The total spending on y-axis has been $2 million to date, he added.