NRIs Invest USD 1 Million in Techno Project
NRI investor backed project MobME has won support from President Abdul Kalam who has promised to take forward the ideas of its promoters to the Kerala Chief Minister and other state officials.
MobME or the Mobile Media and Entertainment is promoted by Torque
Technology Solutions, the Trivandrum based technology incubated
company run by a team of 30 Trivandrum Engineering College students.
The company’s objective is to promote about 100 entrepreneurships by students in Kerala through its novel project, “The Dawn of a Silicon Coast”
The mobile, media and entertainment arm of Torque is a multi-million dollar venture based in Cochin with its technical and development centre at Trivandrum.
NRI investors have pumped in USD 1 million into the MobME project
Integral to the project is the creation of a mobile hub at Technopark,
Trivandrum.
The CEO of Torque, Sanjay Vijayakumar is passionate
about the student-initiated technology project and the President’s support has encouraged the team further.
On the advice of the President, Torque would build an entrepreneurship knowledge platform so that other students could learn from this initiative and use it as a resource base for startups.
Started barely 2 years ago, and already valued at $2.5 million,
Torque has ambitious plans of spreading overseas, with its first
office outside India to open in Dubai shortly. Joint ventures
with European companies are also being contemplated.
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