On this occasion, Mr. 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% 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.
About NASSCOM
NASSCOM® is the premier trade body and the chamber of commerce of the IT-BPM industry in India. NASSCOM is a global trade body with more than 1400 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, BPM, e-commerce and web services, engineering services and animation and gaming. NASSCOM’s membership base constitutes over 95% of the industry revenues in India and employs about 3 million professionals.