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2013-04-11

NASSCOM '10,000 startups' programme invites applications for incubation

As a next step to its recently launched '10,000 startups' programme, National Association of Software & Services Companies (NASSCOM), has announced that it is inviting applications from technology start-ups across the country for angel funding and a natio

              As a next step to its recently launched   '10,000 startups’ programme  , National Association of Software & Services Companies (NASSCOM), has announced that it is inviting applications from technology start-ups across the country for angel funding and a national Acceleration Programme.

According to a release issued by NASSCOM, the invitation procedure for the programme will be processed through the recently launched portal www.10000startups.com. The company has already received over 1,000 applications from various budding startups since the launch of the program and is expected to cross over 5,000 start-up applications in the next few weeks.

As part of the initiative, NASSCOM will shortlist close to 500 entrepreneurs who will be eligible for funding ranging from Rs 25 lakh to Rs 2 crore through leading angel investor networks of the country. Selected startups will be also offered 3 to 4 months of incubation at leading incubators of India, along with co-working space at affordable cost, the release stated.

NASSCOM, along with partners, will focus on multifold activities aimed at fostering entrepreneurship, building entrepreneurial capabilities at scale and providing robust early stage support through mentorship.

The release added that the selected start-ups will be provided with a start-up kit worth Rs 10 lakh comprising of a host of free business tools from Microsoft, AWS and Google. It also said that focused initiatives through webinars will provide a focus on emerging technology trends and whitespaces where upcoming start-ups can build ventures.

Som Mittal, President, NASSCOM, said, “Since the launch of the 10,000 startups initiative by NASSCOM, we have received a very encouraging response from the start-up community. I am happy to state that startups from across India can now apply to the programme through the website and aspire to benefit from a joint engagement with some of the best incubators and accelerators in India.”              

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