With the market cap of Indian infotech companies having reached almost 20 per cent of the total market cap of Indian stock exchanges, Nasscom has taken this initiative to create what its president Dewang Mehta said will be a Nasdaq-like technology. This, he said, will further provide a platform to create wealth in the ensuing digital economy of India.

The tie-up, to be formalised in the shape of a memorandum of understanding next week in Bangalore, is aimed at promoting initiatives and services of both Nasscom and OTCEI to their respective members and market constituents.``This move is also directed towards introducing and improving corporate governance among Indian software companies by encouraging best practices and evolving a legal and regulatory framework necessary,'' according to Mehta.

Nasscom will arrange and conduct `Investor Education' programmes to generate awareness on investment opportunities and risks associated with software companies and provide for research and analysis of the software industry/OTCEI listed software companies for market information and business development.

OTCEI has also put in place mechanisms to hand-hold new IT entrepreneurs through the entire stock exchange listing and market creation process.