More investors join IT park

Two Bangalore-based and three newly-incorporated local companies have taken up nearly 28,000 square feet of space in the Hubli IT park recently raising the hopes of attracting more investors to the park dubbed a white elephant. Keonics is managing the IT park located at Tirakaramanakere in Hubli.

Developed by the Software Technology Parks of India (STPI) for Rs 45 crore, the IT Park had failed to attract investors for over three years due to a lack of infrastructure in the city and uncompetitive rentals demanded by Keonics. A lack of connectivity was cited as another reason.

The first one to set up its unit in IT Park accepting the special package announced by the state government during the IT Investors’ meet in Hubli in May 2005 was Neilsoft, a Pune-based engineering software solutions company.

Bangalore-based Augen Technologies Software Solutions and Aksatech Solutions have between them taken 18,500 sq ft space for expanding their operations to the tier-II city.

The newly-incorporated Vizteck BPO Solutions, Squtech and Intense Software Solutions are the other companies planning to set up base in IT Park. Two of the companies have already taken possession of the space and have begun interior works while the others have given their acceptance letters.

The state government recently offered a special rate of Rs 9 per square foot to investors who take up the first 50,000 sq ft of the available space on offer.