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NASSCOM gets 4K applications for startup programme

Posted: 13 Jun 2013     Print Version  Bookmark and Share

Keywords:National Association of Software and Services Companies  10  000 startup programme  angel funding  incubation 

The National Association of Software and Services Companies (NASSCOM) has received 4,000 applications for Angel Funding and Acceleration under the 10,000 startup programme. The industry body had started inviting applications for the programme on April 5 and closed them on May 30.

Som Mittal, President, NASSCOM, said, “We are overwhelmed with the response received for the programme. We have close to 14,000 entrepreneurs from over 80 cities registering with the programme who submitted about 4,000 applications.”

“We will now select about 20-25 startups for Angel Funding and Incubation.”

“Through a comprehensive evaluation process carried out by our partners, we will also select about 150 startups which would undergo rigorous mentoring by our members, programme partners and other industry partners,” he added

Tech entrepreneurship landscape in India

The application procedure revealed some interesting insights about the emerging tech entrepreneurship landscape in India, NASSCOM said.

Close to 23 per cent of the applicants were from Bangalore, closely followed by 20 per cent applicants from Delhi NCR. One in every five application was filed from smaller towns. Over 70 per cent applications came from applicants under the age of 30 and about 15 per cent applicants were women.

About 25 per cent startups aimed at providing solutions pertaining to education and skill development. The retail vertical had 18 per cent applications followed by media (15 per cent) and healthcare (11 per cent).

A whopping 66 per cent of the applications came for web/internet startups, followed by mobile startups occupying a share of 24 per cent. Applications from cloud and big data were at 16 per cent and 11 per cent respectively.

NASSCOM had commenced the 10,000 startup programme with the support of Google, Kotak, Microsoft, and Verisign.

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