Indian entrepreneurship showcased to incubate more startups

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SME Times News Bureau | 17 Nov, 2015
Indian IT industry representative body Nasscom on Monday drew global attention to native entrepreneurs for incubating more startups as part of its 10K startup programme.

Marking the 'global entrepreneurship week', the National Association of Software and Services Companies (Nasscom) said it would support local entrepreneurs to set up startups with resources and a vibrant ecosystem across the country.

"As more countries turn to their entrepreneurs to drive innovation and economic growth, they need to focus on developing local and national start-up ecosystems," Nasscom president R. Chandrashekhar said.

Noting that the international economy was turning into an integrated global village, the former telecom secretary said providing a global platform for entrepreneurs to showcase their products was becoming imperative.

"Global entrepreneurship week is a platform which can help accelerate growth of start-ups across verticals," Chandrashekhar said.

As the world's largest celebration of technology innovators and start-ups, the global entrepreneurship week from November 16-22 connects, collaborates and engages stakeholders in 160 countries to strengthen the start-up ecosystem.

"Our industry is at a stage where new ideas are being accepted and budding entrepreneurs are supported in many ways, such as boot camps, which provide opportunities to understand the ecosystem the help them sustain their business better," said Nasscom startup programme vice president Rajan Tandon.

Started in April 2013, the 10K programme aims to incubate, fund and support about 10,000 startups across the country by 2023 by fostering entrepreneurship, build capabilities at scale and strengthen early stage support.

Since its launch, 1,100 startups have been incubated out of 11,000 applicants.

The programme is supported by Google, Microsoft Ventures, Kotak, IBM and Amazon web services.