This year, the theme of the summit ‘Forces@Work’ provides a perspective of the various internal and external forces that dynamically impact product businesses. The event will provide entrepreneurs a forum to discuss these forces and find solutions that will help them accelerate their software product business growth. More than 1,000 delegates are expected to attend this event.
As a precursor to the 8th edition of the annual Product Conclave, NASSCOM also hosted a product LaunchPAD – wherein 10 selected product startups unveiled new products or a version of their products. The LaunchPAD is being institutionalized at the Conclave to allow software product companies an opportunity to directly interact with the media and launch their products. This is NASSCOM’s Text Box: NASSCOM Product LaunchPAD • DIaSof : SaaS solutions for chronic therapies • DROWP: Enterprise open source CMS solution • eMEE: game based employee engagement platform • Getlive.me: Live video broadcasting coupled with chat • Grupur.com: Web platform for transactional grouping • Imaginate: Augmented Reality product • KooKoo Cloud Telephony platform for building own apps using telephony channel. • Pawaa: Information Security application • Search Enabler: OnDemand SEO platform for organic marketing • Semgel: Integrated web application for structured data gathering and analysiscommitment towards recognition of innovative products driving the Indian software development revolution through creation of IP, trademarks and frameworks, thereby, driving the national competitiveness of the country.
Speaking about the Summit, Mr. Sharad Sharma, Chair, NASSCOM Product Conclave said, “The last one year has seen heightened activity in the Indian software product ecosystem. New ventures, healthy market capitalization and a move to cater to the domestic market are propelling rapid evolution of the next wave of growth for software products. The NASSCOM Product Conclave is our endeavor to bring together the software product ecosystem to understand the ever-evolving landscape, identify the next set of challenges and collectively work towards overcoming them to continue the growth momentum of the sector.”
He further added, “Indian software product business has recorded an impressive revenue growth of 22 percent over the last five years. However, an even more interesting trend is the vibrant growth of the start-up software product companies in the country. NASSCOM data indicates that over 1100 software product start-ups have emerged in the last five years. Our focus through the NASSCOM Product Forum has been to evangelise the product opportunity for the country, showcase new innovations and build collaboration.”
Some of the key developments and trends witnessed in the software product sector are:
· India is emerging as a software product hub globally with revenues of USD 2 billion from 2,400 product firms.
· Cost of setting up a product startup has gone down significantly from hundreds of thousands of dollars to a few thousand dollars. Cloud, mobility and the opportunity in the India market driving product innovation.
· An enabling ecosystem - availability of skilled talent, disruptive technologies, availability of funds and strong industry support is driving the market.
· Start--up activity witnessing rapid growth with more than 1,100 start-ups being incorporated in the last five years. Mobility, SMBs, E-Commerce and Education – focus segments for start-ups.
· Emergence of tier-II cities as the hub for product startup companies in India with over 330 companies based out of these cities.
· New segments have emerged for Indian products – Consumer, Government and SMBs
· Changing delivery models and collaboration driving business models for product companies.
About NASSCOM
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.