To shortlist 10 early stage companies for on-the-spot seed funding event next month
-- Best application received before 30th November will be awarded with the Blackbox Connect Program in Silicon Valley
The National Association of Software & Services Companies (NASSCOM) today announced that it has received about 1000 applications from early and growth stage startups, as part of its 10,000 Start-ups program in the first week since opening applications for phase two. The association would be nominating the best application received before 30th November for a sponsored Blackbox Connect Program - a two week Silicon Valley immersion program for non-US startup founders in March next year. Through the applications received for 10,000 Start-ups by 10th December, NASSCOM would also shortlist 10 early stage companies for on-the-spot seed funding event next month in Mumbai.
Expressing his views, Mr. Rajan Anandan, Managing Director of Google India and Member - NASSCOM Executive Council, said, "India is expected to become the world's second largest base for internet users by 2014 with a whopping 243 million users; this is going to be an unprecedented opportunity for any entrepreneurial ecosystem around the globe. This puts the onus on us to not just foster entrepreneurship at large but also evangelize the opportunities which can create the next breed of billion dollar companies. The 10,000 Start-ups program is well positioned to do that job. Google India looks forward to actively collaborating with the program and the new functional areas it plans to venture into,".
Mr. Rajat Tandon, Senior Director, NASSCOM 10,000 Start-ups, said, "One remarkable trend that we are noticing this time is the significant surge in the number of applications with prototypes which demonstrates that not their ideas but also the intent to pursue the ideas further."
In the previous cycle, NASSCOM received 4000 applications for funding and acceleration and shortlisted 332 and about 80 companies were supported by the program. With the added aspects, NASSCOM aims to successfully impact more than 200 companies.
This invitation procedure will be processed through the portal www.10000startups.com. NASSCOM, along with its program partners, will focus on multifold activities aimed at fostering entrepreneurship, building entrepreneurial capabilities at scale and providing robust early stage support through mentorship. 10,000 Start-ups is an industry initiative supported by Google, Microsoft, Kotak and Verisign. Zinnov is a consulting partner for the program.
NASSCOM® is the premier trade body and the chamber of commerce of the IT-BPO industries in India. NASSCOM is a global trade body with more than 1300 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member and associate member companies are broadly in the business of software development, software services, software products, consulting services, BPO services, e-commerce & web services, engineering services off-shoring and animation and gaming. NASSCOM's membership base constitutes over 95% of the industry revenues in India and employs over 2.32 million professionals.
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