Nearly thirty software product start-up companies and individuals have announced the creation of a new think tank to convert their innovative ideas into policy proposals.

The new think tank, called iSpirt (Indian Software Product Industry Round Table) will work closely with various trade bodies, such as Nasscom, to provide policy prescriptions. It will also make efforts to help the software product development ecosystem expand further in India.

Sharad Sharma, a founding member of the new think tank, said, "In India, there are not many think tanks. Through this initiative, we are trying to help and create an ecosystem working with product companies."

InMobi's co-founder & CEO Naveen Tewari, and Tally Solutions' co-founder & managing director Bharat Goenka are also among the founding members of the iSpirt.

According to Sharad Sharma, nearly twelve of the founding members of the new think tank are also the members of Nasscom and they will keep on being associated with the industry body.

Mr. Sharma stressed that iSpirt was not formed that to compete with Nasscom; rather it would be complimentary to what the industry body was doing.

Nasscom is a member-led association that has more than 1,400 members, including around three hundred software product companies.