Intel hits back at AMD India deal with megafund
 

THE DEAL AMD struck in India last week has prompted chip giant Intel to create a venture fund for the country with $250 million available to push forward tech creation.

The fund, called the Intel Capital India Technology Fund, will assist Indian companies to drive technology adoption locally, said Craig Barrett, chairman of the firm.

The money will be used to invest in firms that target overseas markets using its own resource base.

Barrett gave cellular comms, broadband apps and wireless technologies as examples. The firm has already invested in over 40 Indian companies, it said. Several have since gone public or have been bought, including Deccanet Designs and Futuresoft.

The INQuirer