Bangalore: The Chamber of Commerce of the IT-BPM industry, NASSCOM announced the fourth phase of its '10,000 startups' program today, which entered into its fourth phase of short listing. The phase aims to bring a robust focus on domain specific product innovations and comprehensive skill-based mentoring support for early stage startups. The third phase had 500 shortlisted start ups who went through pitch and mentoring sessions. The applications are currently being processed on FIFO basis till 22nd April for the next session of Startup Konnect.
Founded in 1988, a non-profit organization, NASSCOM is one of India’s premier trade bodies. Today, the company has more than 1800 members having profound knowledge in the business of software services, software products, consulting services, BPM, e-Commerce, web services, engineering services, animation and gaming. NASSCOM’s membership base constitutes over 95 percent of the industry revenues in India and employs about 3.5 million professionals.
Started in April 2013, NASSCOM 10,000 Startups determines to scale up the startup ecosystem in India by 10times. It aims to create 10,000 domain specific start-ups in the country by 2020 and attempt to incubate, funding and support for 10,000 technology startups in India. The phase also attempts to bring key stakeholders of the ecosystem including startup incubators, accelerators, angel investors, venture capitalists, startup support groups, mentors and technology corporations together. The program is supported by founding partner, Google for Entrepreneurs, Microsoft Ventures, Intel and Kotak Mahindra Bank.
NASSCOM has invited interested startups to apply for the program. Approximately 200 startups will be shortlisted for the 4th batch. Shortlisted startups will participate in the intensive accelerator pitch and mentoring connect sessions which are starting from June 1st week across Bangalore, Delhi, Mumbai, Pune, Kolkata, Chennai and Hyderabad. Those short listed companies will also acquire a Start-up Kit – a package worth $25,000 of value added services and credits from Google, Microsoft, AWS, Knowlarity, HackerRank and Kotak.
Talking about the event, Rajat Tandon, Senior Director, NASSCOM 10,000 Startups, says, “Startups are the lifeblood of our economy. We today have the support of 150 volunteer mentors, industry specialists, angel investors and VCs, as well as a startup alumni network like no other. We can proudly say that through its phases, the 10,000 start-ups program has been able to carve out many success stories across domains. Now with the roll out of the fourth phase, we are looking to accelerate more startups who will re-define the technology landscape of the country".
Echoing in the similar veins, Mary Grove, Director, Google Entrepreneurs, says, “We are impressed by 10,000 Startups' work to foster a vibrant ecosystem of innovation and entrepreneurship in India. We are very excited for the fourth phase of 10,000 Startups Program that enables entrepreneurs to connect with investors and mentors to grow and expand”.