The venture capital fund would catalyse small ventures with big ideas, Barrett said while participating in a round table discussion organised by the executive council of National Association of Software and Services Companies (Nasscom) here.

He promised to bring in a new flavour on doing business in India for establishing large knowledge infrastructure through an Indian enterprise.

Training teachers to use Intel chip technology is Intel's forte and Intel would support the growth of specialised manpower in India, he said.

For India to become an IT superpower, it has to lead from the front along with the US and European countries, he said.

He suggested that the IT task force recently constituted by the prime minister should focus on value-added software and itenabled services and reduce cost while increasing reliability for network connectivity.

On the set of 108 recommendations of the task force, Barrett urged that there should be a deadline by which these should be implemented.

He said competition in India is more at the entry level and the next 18 months are more important.

``You can look for a process speed of 700 mh and in two years it will become one GH,'' he said.

Delivering his address at the Broadcast India'98, Barrett stressed on the advent of a new era of digital content where the use of computers in all production and post-production processes has become imminent.

He outlined two new market opportunities available to the content creation industry. The first is to look beyond the traditional film industry at innovative and interactive digital content and the second is to create new revenue streams in the consumer and entertainment fields through embracing E-commerce and other emerging digital content tools.