Intelliun Corp., the Plano, Texas-based provider of eBusiness Application Automation, announced today it has formed a Venture Fund to support and promote new business opportunities for Independent Software Vendors, (ISVs), Application Service Providers (ASPs) and Web Service Providers.
Seeded with a total of $2 million of Intelliun’s products and services, the fund will be managed by James Lancaster, the Company’s Vice President of Business Development.
According to Lancaster, despite the slowing economy, prospects to create new business opportunities are now greater: “By using this fund, and Intelliun’s disruptive technology and technical resources, companies will be able to take their ideas and business plans to market in a fraction of the time,” he argues.
The Fund intends to stimulate both the development and deployment of future web-based applications and Web Services: “Web Services and an always-on Internet infrastructure are paving the way for a new boom in the digital economy that is far greater than what we’ve witnessed in the last few years,” says Iyad Jabri, Intelliun’s President and CEO.
He believes that combining the firm’s technology with the new venture fund will help energize both entrepreneurs with new ideas and established ISVs with aging technologies, to become major players in the Internet industry.
Intelliun’s cornerstone technology, The Virtual Enterprise (VE), is an eBusiness platform with development tools used for building web-based applications and Web Services that development tools are used for building web-based applications and Web Services. They can be run on J2EE middleware products like IBM’s WebSphere and BEA’s WebLogic.
