Start-up Warehouse is part of the 10,000 Start-ups initiative of NASSCOM. It is a central, well connected, plug-and-play working space where early stage startup founders can interact, exchange ideas and work together. The Bangalore facility spreads in an area of 10,000 sq. ft. with approximately 70 seats.
The event witnessed the presence of NASSCOM bigwigs like, Som Mittal, President; K K Natarajan, Chairman and Ravi Gururaj, Chairman, Product Council. I.S.N. Prasad, Principal Secretary to Government, Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka was also present at the occasion.
I. S. N. Prasad, while talking about the facility said, “Karnataka is the country’s leading hub of technology innovation and it is imperative to continue steering its growth and foster entrepreneurial culture in the state by various policy initiatives. This collaboration with NASSCOM to provide world class infrastructure to startups will phenomenally spur the growth of the technology startup companies operating in the region. The facility will foster innovation under one roof, where start-ups can share knowledge and make the most of a vibrant mini-ecosystem.”
K K Natarajan commented, “Within the first 150 days of its inception, the 10,000 startup program has received an overwhelming response and achieved numerous milestones in this short journey. The launch of the warehouse facility for startup companies in Karnataka is yet another milestone to create, sustain and boost the entrepreneurship culture within the state. We congratulate Govt of Karnataka for their proactive support to the cause of building a robust startup ecosystem in the state and stimulate the technology innovation rate in Karnataka.”
NASSCOM has already received about 2000 Expression of Interests for the warehouse as it was part of the 10,000 Start-ups application process. A selection committee comprising of stakeholders from the government as well as the industry will finalise the selection.
NASSCOM is planning to bring such facilities in other important cities of India which will offer an environment, congenial for early stage start-ups for the first 6 months of their operations. The facility will have regular visits from 10,000 Start-ups mentor and investor network who would provide one-on-one mentorship to the Startups based at the warehouse.
NASSCOM announced the initiative in April to incubate, support and help fund 10,000 technology startups in the next 10 years across India.