Under the format, very early stage startups pitch for about five minutes to a panel of investors and post the pitch, those who are interested pool together to pitch in Rs 5-10 lakh of funding.

These companies also receive mentoring and connections as well."The real value these companies would receive is in form of the mentoring and connections they would get access to through the respective investors," Nasscom 10,000 Start-ups Senior Director Rajat Tandon said in a statement. This also gives tremendous confidence to those who aspire to startup shortly and that there exists a support structure for them as they take the plunge, he added.

Nasscom had started the 10,000 Start-ups program with the support of Google, Kotak, Microsoft and Verisign.The programme received 3,000 applications for its phase II and now aims to support the shortlisted companies with funding, acceleration, mentoring and industry connects.

India has a decent mix of seed and venture capital investors but enormous thrust is required on the post prototype stage investments.

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