APAC to lead global high-tech growth initiative

"The success of entrepreneurial economies lies in the combination of innovation, funding and good management," Young said.

"To become successful, these economies depend on entrepreneurs with commercialized products, a highly skilled and talented work force, venture capitalists, and business consultants.

"SoftwareAP.net is an excellent example of industry working hand in hand with government and venture capitalists to connect talented entrepreneurs to the capital they need to compete on the global stage."

The charter sponsors of SoftwareAP.net, AVCJ, Group Intelligence, Intel, Microsoft and Red Herring offer a broad spectrum of expertise - from definitive sources of analysis and information about private equity and venture capital activities to experience connecting investors, inventors and business innovators globally.

Red Herring vice president Mindy Hull said the company has a history of uncovering emerging technology companies.

"We're seeing a lot of great new companies in the Asia-Pacific region that are in search of growth assistance. SoftwareAP.net will give them the outlet, tools and resources they need to ensure this happens," Hull said.

Microsoft facilitates a number of programs to push the envelope of innovation and education and create opportunities for entrepreneurialism.

In Singapore, the software giant runs a joint program with the Infocomm Development Authority of Singapore (IDA).

The program is known as BackPack.NET and has supported HeuLab Pte. Ltd., a company in Singapore that develops education applications and was founded in 2002 with five employees and a profit of 600,000 Singapore dollars (SGD).

HeuLab has expanded to 35 employees in just four years and boasts an impressive profit of 3.5 million SGD - a total growth of more than 600 percent. HeuLab also joined the BackPack.NET Developers Community and was able to secure a significant share of the $US 1.3 billion worldwide e-learning market.

Last quarter HeuLab expanded globally, deploying its products in Australia, Korea and Qatar.

Another program is Microsoft's Imagine Cup competition designed to encourage innovation and the entrepreneurial spirit in students all over the world.

The competition provides opportunities for next-generation business leaders to define the future of technology, software and computing.

This year the global competition already has more than 100,000 registrants from over 100 countries and will focus on the theme "Imagine a world where technology enables a better education for all."

The ICT industry is a significant source of economic growth in the Asia Pacific region.