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[from ICTD News for 24 March 2004]
Can India Plug Its Brain Drain?
Three years ago, in an effort to slow this exodus, IIT Bombay (it retains the name Bombay even though the city is now called Mumbai) set up an information technology incubator at the Kanwal Rekhi School of Information Technology, or KReSIT. The incubator is slowly building a culture of entrepreneurship by encouraging IIT's best and brightest to stay in India.
http://www.sdnp.undp.org/perl/news/articles.pl?id=6276&do=gpage