Special Correspondent

Bangalore: A 11-member European Union delegation was here on Wednesday to explore possibilities for partnership and collaboration with Indian business, institutions and State and Union governments to foster innovation.

The team, led by Dr. Francoise Le Bail, Deputy Director General, Directorate General Enterprise and Industry, European Commission, met the Chief Secretary, held discussions with European and Indian business leaders and visited research and academic institutions such as the Indian Institute of Science and the Indian Institute of Management-Bangalore to explore avenues for cooperation.

Speaking to the media, Dr. Bail said the EU was likely to establish an innovation fund for smaller European companies to provide venture capital funding. She said Indian companies operating through their subsidiaries in Europe would be eligible for such assistance.