Arpit Shah (Accountant) 02 April 2015
NASSCOM has announced fourth phase of NASSCOM 10,000 Startups, and is inviting applications from technology startups across the country. With this, it also marked its second anniversary of 10,000 Startup Program.
NASSCOM 10,000 Startups, is a startup incubation program whose objective is to create 10,000 domain specific startups in the country by 2020.
NASSCOM had launched the 10,000 Startups Program in March 2013, with support from companies like Google, Microsoft and VeriSign. The last phase of the initiative saw 500 shortlisted startups, which went through pitch and mentoring ‘konnect’ sessions.
Applications are currently being processed on FIFO (First-in-first-out) basis till 22nd Aprilfor the next session of Startup Konnect which is a mini boot-camp program for shortlisted startups who will be eligible for connect-2-pitch with all ecosystem partners including leading accelerators, angel investor networks and venture capital firms.
In its earlier two phases, the program had attracted a total of 7000 applications of which 529 were shortlisted and 125+ benefitted by the way of receiving funding, acceleration, mentoring, co-working space, enterprise connects and showcase opportunities through the program.
Rajat Tandon, Senior Director, NASSCOM 10,000 Startups said, “Startups are the lifeblood of our economy. We today have the support of 150 volunteer mentors, industry specialists, angel investors and VCs, as well as a startup alumni network like no other. We can proudly say that through its phases the 10,000 start-ups program has been able to carve out many success stories across domains. Now with the roll out of the fourth phase, we are looking to accelerate more startups who will re-define the technology landscape of the country.”
For the fourth phase, Nasscom will be inviting domain centric applications from startups, which will provide a detailed overview of their business idea and the market opportunity. Around 200 startups will be shortlisted and allowed to participate in the intensive accelerator pitch and mentoring connect sessions. The session is supposed to start in the first week of June across Bangalore, Delhi, Mumbai, Pune, Kolkata, Chennai and Hyderabad.
Selected startups will also be provided a package worth $25,000 of value added services and credits from Google, Microsoft, AWS, Knowlarity, HackerRank, and Kotak.
Mary Grove, Director, Google for Entrepreneurs said, “We are impressed by 10,000 Startups’ work to foster a vibrant ecosystem of innovation and entrepreneurship in India. We are very excited for the fourth phase of 10,000 Startups Program that enables entrepreneurs to connect with investors and mentors to grow and expand.”
Ravi Narayan, Managing Director, Microsoft Ventures India, also commented by saying, “Many of the startups we have helped gain traction through our accelerator programs were previously incubated in the 10K Warehouse and the startups have benefitted from both programs immensely. We are positive that this partnership will continue to build a stronger ecosystem for startups in India and provide them promising future.”
You can apply for 10,000 Startup on 10000startups.com
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