NASSCOM receives 4000 applications for 10,000 Start-ups program | SupportBiz

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NASSCOM receives 4000 applications for 10,000 Start-ups program

 
As a part of the recently launched ‘10,000 start-ups’ program, the National Association of Software and Services Companies (NASSCOM) today released insights on the tech entrepreneurial landscape announcing the receipt of 4000 applications for Angel Funding and Acceleration under the 10,000 Start-ups program.

NASSCOM had started inviting applications for the 10,000 Startups program on April 5th 2013 and closed applications on 30th May 2013.

On this occasion, Som Mittal, President, NASSCOM said, “We are overwhelmed with the response received for the program. We have close to 14,000 entrepreneurs from over 80 cities registering with the program who submitted about 4000 applications. We will now select about 20-25 startups for Angel Funding and Incubation.” He further added, “Through a comprehensive evaluation process carried out by our partners, we will also select about 150 startups which would undergo rigorous mentoring by our members, program partners and other industry partners.”

The application procedure revealed some interesting insights about the emerging tech entrepreneurship landscape in India. Out of the total applications received, close to 23 per cent of the applicants were from Bangalore, closely followed by 20 per cent applicants from Delhi NCR. Another interesting trend that came into light was that one in every five application was filed from smaller towns. With reference to the demographics of the applicants, over 70 per cent applications came from applicants under the age of 30 and about 15 per cent applicants were women.

About 25 per cent startups aimed at providing solutions pertaining to education and skill development. The retail vertical had 18 per cent applications followed by media (15 per cent) and healthcare (11 per cent). From a technology point of view, a whopping 66 per cent of the applications came for web/internet startups, followed by mobile start-ups occupying a share of 24 per cent. Applications from Cloud and Big Data were at 16 per cent and 11 per cent respectively.

NASSCOM had commenced the 10,000 Start-ups program with the support of Google, Kotak, Microsoft and Verisign.