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SJCE-STEP Awards DST SEED Fund to Nexshore Technologies for Product Development - Nexshore and SJCE-STEP signed an agreement on 22nd July 2010 where Nexshore was awarded the SEED fund by the Department of Science and Technology, administered by SJCE-STEP, for new product development based on technology for digital asset management
SJCE-STEP Awards DST SEED Fund to Nexshore Technologies for Product Development

 

NewswireToday - /newswire/ - Mysore, Karnataka, India, 2010/09/28 - Nexshore and SJCE-STEP signed an agreement on 22nd July 2010 where Nexshore was awarded the SEED fund by the Department of Science and Technology, administered by SJCE-STEP, for new product development based on technology for digital asset management.

   
 
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The SEED fund was awarded by Dr. M. Mahadeviah, Chief Executive of SJCE-STEP in the form of a soft loan to fund development efforts at Nexshore. Speaking at the event, Dr. Mahadeviah said “Nexshore has been awarded this prestigious assistance and award based on their compelling proposal to develop new products for the emerging global digital security market. Nexshore has a demonstrated competence, technical strengths and track record in the development of innovative products. I wish Nexshore all the best for their all present and future endeavours.”

SJCE Science & Technology Entrepreneurs Park (STEP) is a society registered under the Karnataka Societies Registration Act, 1960. SJCE- STEP is sanctioned Seed Support System (SSS) by the Technology Development Board, Government of India, whereby permission is granted to SJCE-STEP for disbursing SEED capital assistance to the incubate, subject to the guidelines prescribed by the department, which the incubate can leverage to raise next level of funding from external sources. SJCE-STEP provides this prestigious SEED fund to companies mainly to help launch products.

Nexshore will further develop its technology based products to suit large ISVs and Enterprises for custom developed software. The technology framework has been developed with Nexshore holding all IP rights. Nexshore will now enhance the underlying technology as a platform for digital delivery and application analytics with features such as software license tracking, geo-lookup and analysis, usage analytics, automated updates and customer preferred licensing. This will be developed as a SAAS to keep it open for OEM opportunities. These products will serve the emerging global Digital Asset (DA) market which is currently served by only a few vendors who have created systems to deliver and secure applications. The ROI for these products will come from deploying enterprise DA with ease and security. This will save enterprises in house R&D costs and eliminate revenue losses with better security and application deployment tracking. The marketing & tracking features will feed upgrade revenues. These products would provide rich geo targeted information which would be useful in making the right R&D investment and marketing decisions.

About Nexshore

Nexshore (nexshore.com) is aligned around the single focused objective of enhancing the business value of Small and Medium Enterprises (SMEs). With IT consulting, software R&D / IT services, Offshore Business Process management solutions and Software Products Nexshore helps give your business the cost effective edge to add immense value to your services, effectively compete and grow your business. Focusing on capabilities and technologies important to you, Nexshore offers services and solutions that increase the value of your business in simple transparent steps.

Trademark Information: Nexshore and the Nexshore logo are trademarks or registered trademarks of Nexshore Technologies Private Limited. All other trade names are trademarks or registered trademarks of their respective holders.

 
 
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Written by / Agency / Source: Nexshore Technologies (P) Ltd

 
 

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SJCE-STEP Awards DST SEED Fund to Nexshore Technologies for Product Development

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Publisher Contact: Ajay Kumar Jha - Nexshore.com 
+91 82 12416031 ajaykumar.j[.]nexshore.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Nexshore Technologies (P) Ltd securities in any jurisdiction including any other companies listed or named in this release.

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