20 new software houses to be established -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

20 new software houses to be established

LAHORE: The Pakistan Software Export Board is establishing 20 new software houses comprising 100 IT entrepreneurs and 20 system support professionals under a project aimed at facilitating and developing the potential of fresh and experienced IT graduates.

The project called GEMS-2002 will be formally launched here on Friday after final evaluation and selection of new software companies. Minister of Science and Technology Dr Ataur Rehman is expected to chair the ceremony.

The PSEB has selected 20 software companies of five directors each for full patronization over a period of one year during which entire infrastructure and technical support will be provided to them as the Software Technology Park, Lahore, to make them self-sufficient under the GEMS-2002 project.

The project will focus on materializing the ideas and potentials of young IT professionals in marketable products for which the PSEB will be doing the marketing around the world. They will be provided entire logistic support and infrastructure with “Plug and Play” facilities to operate as software houses.

During the patronization period, the PSEB will share 20 per cent of the profits generated by them while their share will be 80 per cent. Once they are established as independent companies, they will be free to establish their own set-up anywhere they like.

The revenue retained by the PSEB will be used to launch the next phase of the project in which 200 IT companies will be set up in four major cities — Karachi, Lahore, Islamabad and Peshawar.

The project is expected to generate exports over $5 million within the next year and will focus on tapping the untouched spheres of software industry including games, network pools, system utilities, etc.
Source: The Dawn
Date:8/22/2002