SME Times News Bureau | 13 Jun, 2013
The National Association of Software and Services Companies
(NASSCOM) will fund and incubate 25 start-ups to be set up by young
entrepreneurs across the country, the Indian IT industry representative body
said Wednesday.
"Of the 4,000 applications we received for our '10,000 start-ups
programme', we will select 25 best entrepreneurs for angel funding and
incubating their start-ups. Another 150 firms will be mentored through partners
and members," NASSCOM
president Som Mittal said in a statement.
Of the 14,000 registered entrepreneurs in 80 cities across the country, 4,000
of them responded to the programme, conducted between April 5 to May 30.
"We are overwhelmed with the response to the programme. Our industry
partners will short-list the start-ups through an evaluation process for
funding and incubation," Mittal said.
The programme gave insights into the emerging tech entrepreneurship landscape
in the country, as 23 percent of the responses were from Bangalore followed by
20 percent from the National Capital Region (NCR).
"One in every five application came from smaller towns and about 70
percent of them are under 30 years, while 15 percent of them were women,"
Mittal pointed out.
"From a technology viewpoint, around 66 percent of the applications are
for web/internet start-ups, 24 percent for mobile applications, 16 percent for
cloud applications and 11 percent for big data processing," Mittal
observed.
Global search engine Google, global software major Microsoft, the US-based
internet service provider Verisign and leading Indian financial services firm
Kotak partnered with Nasscom for the start-ups programme.