NASSCOM’s ‘10,000 Startups’ initiative receiving overwhelming response
The National Association of Software & Services Companies (NASSCOM) has claimed that its `10,000 Startups' programme is receiving an overwhelming response.
NASSCOM Chairman K Natarajan announced that the initiative, which aims to stimulate Indians' entrepreneurial spirit, received more than 2,000 startup applications in just 20 days.
Making the announcement, he said, "We have received an overwhelming response for the 10,000 Startups programme with over 2,000 startup applications in the last 20 days."
Natarajan added that the main objective of the initiative was to help Indian startups scale up their business and position India as a hub for innovative startups.
The `10,000 Startups' initiative was launched last month. Under the initiative, the industry body has thus far conducted a total of fifteen events across ten key cities. The industry body has also launched a special portal, www. 10000startups. com, to receive and process the invitation procedure.
NASSCOM will shortlist around 500 entrepreneurs, who will be eligible to get funding ranging between Rs 25 lakh and Rs 2 crore via leading angel investor networks of India. Selected startups will also get 3-4 months of incubation at the country's leading incubators, and co-working space at reasonable cost.