To this end, the company has raised $150 million to provide seed stage funding for start-ups in technology related areas. GIV has also initiated an entrepreneur incubation program in association with the Nadathur S Raghavan Centre for Entrerpreneurial Learning (NSRCEL) of Indian Institute of Management, Bangalore (IIMB). The proposed incubation center at the IIMB campus will bring together capital, infrastructure and resources to fund young entrerpreneurs from the institute.

GIV founder and chairman William Melton (founder of VeriFone and Cybercash) said this was a move towards bridging and linking businesses across India, China and the US to create new businesses which have access to the global market place. ``This incubation model once successful, will be replicated with other premium institutes across India and China in order to create a wealth of young talented businessmen. GIV has initiated similar programs with top schools in the the US including MIT and Harvard,'' Melton said. On the specifics of the new program with IIMB, he said that the incubation facility was looking at funding and incubating eight to ten companies a year on a six months' cycle.

The start-ups, which have a significant technology and engineering component would be provided basic infrastructure and resources to begin with and later be facilitated for additional rounds of funding, he added.

As for the financial details, a one-time grant of $230,000 will be provided for the creation of a 5000 sq ft incubation and NSRCEL office facility at the IIMB campus. Seed funding of $150,000 per year for incubator participants has been set aside and an additional $30,000 will be granted for the first year towards purchase of communication equipment and infrastructure requirements.

GIV will take 5 per cent of equity stake in the ventures funded. The company would continue making regular investments in companies across India and China besides the incubation programs, Melton said.