Tuesday, August 12, 2014

#NASSCOM & #Karnataka Government incubated 28 IT start-ups last year

‘StartUp Warehouse’, set up by the Government of Karnataka in partnership with Nasscom last year, has resulted in 28 start-ups creating more than 100 jobs and bringing in about $1 million of investment.Six of these companies are serving the global market. Under this program over 50 start-up events have been conducted with 2,000 participants. The program also runs an online mentorship impacting over 200 companies in Bangalore and over 500 across the country.

Government of Karnataka (GoK), in partnership with NASSCOM, today announced the setting-up of a 50,000 sq.ft. GoK-NASSCOM Start-Up Warehouse NextGen which will be the hub where outstanding technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists. The GoK-NASSCOM collaboration also launched India’s first Hackcelerator, a unique combination of a Hackathon and an Accelerator to be housed and integrated into this new warehouse facility.

Sharing his thoughts on the occasion, Mr. R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India, said “Start-Ups have been a growth engine for the industry and the economy for quite some time now. NASSCOM had always focused on the three core-pillars of - Evangelizing Entrepreneurship by addressing identified challenges and promoting entrepreneurship as a preferred career option, building capacity by educating aspiring and early stage entrepreneurs on various aspects, and enhancing early stage support for Startups. This collaboration with GoK is a great leap in this regard and will provide the requisite support to the start-ups and entrepreneurs at the right time in the right shape and form.”