Interlink is a web-enabled B2B business that is focusing on the outsourcing of back office services from US-based companies to the emerging markets. The company intends to start with the medical transcription business and and then move the concept into a number of related health care areas such as medical coding and health insurance. The project will create a large number of jobs in emerging markets, where the company will provide attractive jobs in the growing Information and Communication Technologies (ICT) sector and training in both the medical field and the internet industry.

In order to raise the necessary amounts of capital in the first and second rounds, both the Sponsor and the initial seed money investors are asking IFC to make an equity investment that would reassure other international venture capitalists who are uncomfortable with regards to Indian political and economic risk. In addition, IFC would be able to assist the company in replicating the concept across a number of vertical industries as well as in a number of other emerging markets (such as the Philippines and South Africa). The project also fits well into the IFC strategy in India which aims to support the development of sectors of increasing importance to the country, including education, information technology and knowledge-based industries.

The proposed IFC investment will help directly finance one of IFC''s first projects in the internet sector. The project will have significant developmental impact by: (i) creating thousands of web-enabled service jobs in India, and possibly other developing countries; (ii) helping to set-up and train many small supplier businesses in India; (iii) working with local engineers to develop the company''s second generation software applications; and (iv) creating a demonstration effect for other investors.