CHENNAI: The government's allocation of Rs 1,000 crore towards the self-employment and talent Utilization scheme will give a major boost to the start-ups in the country and the total number of such entities will cross 10,000 by 2017, NASSCOM chairman R Chandrasekaran said.

"This is the time to do right things because we see a great demand in India and globe for innovation and we see great talent that is coming up in the country. We have a good support system, and the government is quite supportive for the industry, "Chandrasekaran said at Product Conclave organized by NASSCOM here.

Observing that India has the fourth largest ecosystem for start-ups after the U.S. and the UK, he said, adding, "If this trend continues, in a year or two India will be ranked second after the U.S. That is the level of enthusiasm among start-ups".

He said two years ago, NASSCOM had envisioned having 10,000 start-ups by 2020 but this number would cross by 2017 itself.

"The way it is growing, we may have 10,000 start-ups by 2017 itself," he said. Currently, there are about 3,100 startups at various stages.

"India is becoming an innovation destination," Mr Chandrasekaran said.

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