Nasscom, the IT industry lobby, is aiming to join the dots in India’s start-up scenario. It plans to collaborate with a host of incubators and start-up accelerators to strengthen support for technology start-ups in the country.
Over the last few years, a number of privately run accelerators have come up. These are Venture Nursery, The Hatch, Morpheus, 91Springboards etc.
It will also collaborate with angels funds such as Mumbai Angels and Indian Angel Network. Nasscom believes this is the right time for the launch of this initiative because in the last six years, the number of start-ups has tripled. Several sectors such as cloud, social media, ecommerce, mobile, education and healthcare are attracting first-generation entrepreneurs.
The so called 10,000 Start-ups Programme will help applicants get angel funding support and industry connections to get mentoring in the early stage of their business.
Here is a snapshot of what you can get from this initiative:
– Seed funding to the tune of Rs 5 lakh to Rs 20 crore
– Three to four months of incubation support
– Physical infrastructure/office space to work from — to be called Startup Warehouses or Clusters
– Startup Kit consisting of technology and business tools worth $25,000. This may include air tickets for travel, web hosting etc.
– Connections to industry mentors, venture capitalists