Oracle sets up fund to help Web developers of tomorrow

Not as philanthropic as it sounds though

Oracle is setting up a $100 million venture capital fund to boost small business developing Web-based applications. The only snag being that companies interested in getting their hands on some of the filthy lucre have to doing their development work on Oracle 8i. The giant of the database world is planning to team up with established venture capital firms to spot the upcoming stars of tomorrow’s Internet industry. Companies working in ecommerce, content management and business intelligence will be likely candidates. Oracle CEO Larry Ellison said: "The next generation of business applications will be designed for and run on the Internet. Oracle plans to invest in and work closely with software companies that share this vision." Ellison obviously knows a good thing when he sees one and Oracle will be offering these fledgling partners access to its own developers and technology, hoping that by getting a raft of growing companies to work with Oracle it will sew-up the market in the future. ®

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