Hannover Milano Fairs, the organiser of the world's largest IT business exhibition and conference CeBit, has signed a memorandum of understanding with Indian software product think tank to support the software product industry in India, and encourage the right policy environment towards product entrepreneurship in the country.
As a precursor to CeBit being hosted for the first time in Bangalore, the two entities would together work towards showcasing India's software product development capability to potential buyers, and also to catalyse venture capital and private equity funding for Indian product companies.
Ispirt and CeBit will also work towards "internationalisation of India as a product nation utilising CeBIT Global series of events as a platform," the two entities said in a joint press release said.
CeBit is scheduled to be held in Bangalore in November 2014. This would be the first time the event is coming to Asia.
“We are looking forward to working with the team at iSpirt to promote the role that India's software product ecosystem is going to play in the development of the global and Indian IT economy,” Andreas Luttmann, general manager of Hannover Fairs International said.
iSpirt, which was formed by some IT product industry veterans about one year ago, has been working to encourage increased mergers and acquisitions activity in the Indian software products space. The think tank has set up a M&A Cell, which facilitates and assists companies through acquisition processes.
Additionally, Mehul Lanvers-Shah, managing director of Hannover Fairs India said the tie up between the two agencies is not exclusive, and Hannover Fairs would also look to enter similar pacts with other industry bodies such as Nasscom.