After Bangalore, Nasscom To Launch Start-Up Warehouses In Chennai and Mumbai

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 BANGALORE: Nasscom, the Information Technology Industry has been in talks with the Tamil Nadu and Maharashtra governments to open ‘start-up warehouses’ for incubation of start-ups.

As per the sources that have been part of this development, the centers are supposed to start in Chennai and Mumbai and are likely to be operational by December.

Nasscom has received similar kind of initiation from Kerala as well, but the conversation between the Nasscom and state government are still emerging, added the source.

Under its ‘10,000 Start-Ups’ initiative, the industry body had started its first ‘start-up warehouse’ in Bangalore in August 2013, partnering with Karnataka government. Under this partnership, the state government had offered 10,000 sq ft of land for building the warehouse, and Nasscom has brought programs, proficient teams and advisers for start-ups. The warehouse has capacity for 70 seats with round-the-clock power back-up, a leased Internet connection and four conference rooms.

The warehouse will be providing start-up office space till six months for each startup, which can occupy up to 5 people, and it can be revamped for another six months. As per the reports from sources, the warehouses in Chennai and Mumbai would be larger than the one in Bangalore. "The one at Chennai would be around 20,000 sq feet and the one in Mumbai is expected to be around 24,000 sq feet," a source close to the development said, reports Business Standard.

Nasscom has been running 10,000 startup programs for the last one year partnering with Google, Microsoft, Kotak and Verisign. The main objectives of the initiative are to offer enough support for tech startups and develop 10,000 domain specific start-ups in the country.

In April 2013, Nasscom had invited its first round of program entries, and the selected companies were given funding between 25 lakh to 2 crore through leading angel investors. Some of these companies were also given incubation from the leading incubators in the country. The second round of applications was claimed in last year October.

"I am open to any state that wants to do it; we will help them," said Ravi Gururaj, chairman of Nasscom's Product Council, which oversee 10,000 Start-Up programs.

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