National Association of Software and Services Companies (NASSCOM) on Wednesday announced that it has received 4,000 applications for angel funding and acceleration under its 10,000 Start-ups programme.
National Association of Software and Services Companies (NASSCOM) on Wednesday announced that it has received 4,000 applications for angel funding and acceleration under its 10,000 Start-ups programme.
Som Mittal, President, NASSCOM said, “We are overwhelmed with the response received for the programme. We have close to 14,000 entrepreneurs from over 80 cities registering with the programme who submitted about 4,000 applications. We will now select about 20-25 startups for angel funding and incubation.”
He further added, “Through a comprehensive evaluation process carried out by our partners, we will also select about 150 startups which would undergo rigorous mentoring by our members, programme partners and other industry partners.”
Revealing some interesting trends from the applications received, the release said, that out of the total applications received, close to 23 per cent of the applicants were from Bangalore, closely followed by 20 per cent applicants from Delhi NCR. Also one in every five applications that were received was filed from smaller towns. With reference to the demographics of the applicants, over 70 per cent applications came from applicants under the age of 30 and about 15% applicants were women.
The release further stating more facts said about 25 per cent startups aimed at providing solutions pertaining to education and skill development. The retail vertical had 18 per cent applications followed by media (15 per cent) and healthcare (11 per cent). From a technology point of view, a whopping 66 per cent of the applications came for web/internet startups, followed by mobile start-ups occupying a share of 24 per cent. Applications from Cloud and Big Data were at 16 per cent and 11 per cent respectively.
NASSCOM had commenced the 10,000 Start-ups programme April 5th 2013 with the support of Google, Kotak, Microsoft and Verisign.
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