500 Shortlisted Startups To Get Upto 2 Crore In Funding From NASSCOM

By siliconindia  |  Monday, 30 November -1, 05:30 IST

 

Hyderabad: Nasscom, which recently launched its '10,000 start-ups' programme, Wednesday announced inviting applications from innovative technology start-ups across the country.

The association has already received over 1,000 applications from budding start-ups since the launch of the programme and is expected to receive 5,000 applications in the next eight weeks.

Nasscom will shortlist 500 entrepreneurs who will be eligible for funding of 25 lakh to 2 crore through the leading angel investor networks of the country.

Selected start-ups will be offered three to four months of incubation along with co-working space at affordable cost.

Under the programme, for which Google, Microsoft and others have partnered with Nasscom, 10,000 technology start-ups will be funded in 10 years.

"We expect 15 of these start-ups will be billion dollar companies," he said.

The programme is expected to increase start-up funding by 10 times, seed funding by 20 times and start-up jobs by five times. Nasscom expects over 500,000 jobs will be created at the start-up level itself.

Source: IANS

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