Pune-based Bilcare Technologies, a business of Bilcare Limited - a research and technology provider for creating advanced anti-counterfeiting, security and brand protection solutions to Beltron Telecom, promoted by Bihar State Electronics Development Corporation Ltd, has signed an MoU defining and detailing the business Letter of Intent (LoI) with Beltron. Bilcare Limited is expecting a revenue of Rs 300 crore in the next two years through this venture.
As a pilot project, Beltron will use this technology to prevent the misuse of educational documents and certificates in the state. From 2012, it will issue the school certificates which cannot be forged. The collaboration will enable and address the diverse needs of security and secured e-governance in governmental and non-governmental projects undertaken by Beltron Telecom for the states of Bihar, Jharkhand and some north eastern states of the country.
As per this alliance Beltron Telecom will use Bilcare's unique nonClonableID technology in its initiatives related to secured e-governance and security projects that will help in ensuring utmost security and creating immense value proposition for its customers. Beltron Telecom eyes significant revenue growth from this alliance.
"Bilcare's nonClonableID technology is a path-breaking invention which has the potential business landscape of Rs 8,000 to 10,000 crores in the security and secured e-governance space. In Bihar, over 25 per cent documents are misused and being forged. We, at Beltron Telecom are very enthused about the new business opportunity arising out of this very crucial strategic collaboration with Bilcare and we are very confident that this technology will translate into additional new business revenue of Rs 300 crore in the next two years for Beltron Telecom and Bilcare," said Ramesh Kumar, managing director, Beltron Telecom.
He added "Beltron will now be able to offer revolutionary outcomes in the secured e-governance and security space by combining Bilcare Technologies' non ClonableID solution with Beltron Telecom's own execution expertise and strength."
Praful Naik, executive director of Bilcare said "Bilcare continues to work on proliferating the effective deployment of its novel nonClonableID technology solution in both the government and private sectors by collaborating with key leading organisations and government enterprises like Beltron Telecom to ensure that the customers get the most advanced, customised and relevant solutions, which are robust, scalable and cost effective."
