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Indian Startup Ecosystem: A Fertile Terrain for Tech Startups

By Rajat Tandon, Vice President, NASSCOM 10,000 Startups
Tuesday, September 8, 2015
By  Rajat Tandon, Vice President, NASSCOM 10,000 Startups
Incepted in 1998 in Delhi with the vision to facilitate business and trade in software & services and to encourage advancement of research in software technology, NASSCOM is a non-profit global trade sodality with 1500 members, including 250 global companies that cater to Indian IT industry..

Startups, the most critical pillars of the Indian IT industry are representing a large prospect for India to retain its economic advantage. In line with our Hon'ble Prime Minister's vision of Startup India, , NASSCOM has introduced 10,000 Startups program that connects technology startups with all the players in the ecosystem. Under this program, NASSCOM helps the culled startups get into several accelerator programs, get venture capital or angel funding, put together a business plan, and provide assistance on several other aspects. Furthermore, it organizes workshops, meet-ups and hackathon events for startups at sundry places across the country. With the help of more than 80 partners across the Indian startup ecosystem that includes Incubators, Accelerators, Co-working spaces, Angel Funding and over 15 outreach partners that include Angel Hack, Headstart, VC Circle, Weekend Ventures, Lean Startup Machine, 10,000 Startups program fortifies tech-startups through acceleration, mentorship, incubation and enterprise connects; beyond just funds. The 10K program is backed by Google for Entrepreneurs, Microsoft Ventures, Kotak, IBM and Amazon Web Services.

Fostering Tech Startups

With a vision to IMPACT 10,000 technology startups and nurture them into full-fledged technology-determined companies by 2023, we have already short-listed 1100 tech-startups out of 11000 applications in the fourth phase, since its launch in 2013. One prosperous startup Bookpad, specializing in document viewing implements, was acquired by Yahoo last year, after it sprouted roots under the 10,000 startups initiative 'Innotrek'. To designate a few others, we've Hiree, NewsInShorts, Ridingo and 150 such startups which are climbing the ladder of prosperity. With sundry initiatives like Startup warehouse, InnoTrek, Start-up Konnect sessions and NASSCOM Industry Partner Program (NIPP), we remain committed to build a vibrant tech startup ecosystem in India to sustain this momentum. Supported by the respective state governments, the 'Start-up Warehouse' offers them a central, well-connected, plug-and-play working space for the first six months of their operations on a per-seat basis. Currently, Bengaluru and Kolkata Startup Warehouse are operational.

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