As a part of its 10,000 start-ups program, National Association of Software and Services Companies (NASSCOM) in association with Microsoft Ventures organized an on-the-spot funding event for pre-revenue companies on the sidelines of its Techstock event on the 20th of December at Bombay Stock Exchange.
Eight pre-revenue companies – Boutline, Imly, Drawtime, Routo, Jojobu, Parkwalla, Qpeka, Kooki were shortlisted from the applications received for the 10,000 Start-ups program were given the opportunity to pitch their business ideas to a panel comprising of 10 investors.
While talking about the initiative, Rajat Tandon, Senior Director, NASSCOM 10,000 Start-ups said, “All the companies who participated today are in their conceptualization stage, while four companies were successful in raising funds and two of them also secured a spot in the coveted Microsoft Accelerator program. The real value these companies would receive is in form of the mentoring and connections they would get access to through the respective investors.”
Highlighting the various aspects of the initiative Rahul Sood, Partner and General Manager, Microsoft Ventures said, “Microsoft Ventures is committed to strengthen the early stage ecosystem for tech startups in the country, with this format we believe many more prototypes will be able see the light of the day.”
Founders of the two most iconic Internet entrepreneurship ventures in India, Ashish Hemrajani, Founder, Bookmyshow and Anupam Mittal, Founder, Shaadi.com also shared their entrepreneurial journey and advised young companies at the event.
Talking about the session, Rehan Yar Khan, Managing Director, Orios Ventures said, “10,000 startups is a revolutionary program and has the potential to be a game-changer especially for early stage ventures. The fact that 4 post-prototype startups have raised funds on the spot from a panel of entrepreneurs and well-connected mentors, would also give tremendous confidence to those who aspire to startup shortly and that there exists a support structure for them as they take the plunge.“
NASSCOM commenced the 10,000 Start-ups program with the support of Google, Kotak, Microsoft and Verisign. The program received 3000 applications for its phase 2 and would now aim at supporting the shortlisted companies with funding, acceleration, mentoring and industry connects.
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.
Eight pre-revenue companies – Boutline, Imly, Drawtime, Routo, Jojobu, Parkwalla, Qpeka, Kooki were shortlisted from the applications received for the 10,000 Start-ups program were given the opportunity to pitch their business ideas to a panel comprising of 10 investors.
While talking about the initiative, Rajat Tandon, Senior Director, NASSCOM 10,000 Start-ups said, “All the companies who participated today are in their conceptualization stage, while four companies were successful in raising funds and two of them also secured a spot in the coveted Microsoft Accelerator program. The real value these companies would receive is in form of the mentoring and connections they would get access to through the respective investors.”
Highlighting the various aspects of the initiative Rahul Sood, Partner and General Manager, Microsoft Ventures said, “Microsoft Ventures is committed to strengthen the early stage ecosystem for tech startups in the country, with this format we believe many more prototypes will be able see the light of the day.”
Founders of the two most iconic Internet entrepreneurship ventures in India, Ashish Hemrajani, Founder, Bookmyshow and Anupam Mittal, Founder, Shaadi.com also shared their entrepreneurial journey and advised young companies at the event.
Talking about the session, Rehan Yar Khan, Managing Director, Orios Ventures said, “10,000 startups is a revolutionary program and has the potential to be a game-changer especially for early stage ventures. The fact that 4 post-prototype startups have raised funds on the spot from a panel of entrepreneurs and well-connected mentors, would also give tremendous confidence to those who aspire to startup shortly and that there exists a support structure for them as they take the plunge.“
NASSCOM commenced the 10,000 Start-ups program with the support of Google, Kotak, Microsoft and Verisign. The program received 3000 applications for its phase 2 and would now aim at supporting the shortlisted companies with funding, acceleration, mentoring and industry connects.
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.
