The apex body of IT and ITES industry will nominate the best application received before November 30 for a sponsored Blackbox Connect Program – a two week Silicon Valley immersion program for non-US startup founders in March next year.
NASSCOM will also shortlist 10 early stage companies, from the applications received by December 10, for on-the-spot seed funding event, scheduled to take place in Mumbai next month.
Expressing his views, 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.”
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.”
In the previous cycle, NASSCOM received 4000 applications for funding and acceleration and shortlisted 332 and about 80 companies were supported by the program.