4000 Startup Programme Applications received by NASSCOM
As part of the recently launched ‘10,000 Start-ups’ programme, National Association of Software and Services Companies (Nasscom) recently released insights on the tech entrepreneurial landscape announcing the receipt of 4,000 applications for angel funding and acceleration. Nasscom had started inviting applications for the 10,000 start-ups programme on April 5 and closed applications on May 30.
Som Mittal, president, Nasscom, said, “We have close to 14,000 entrepreneurs over 80 cities registering with the programme who submitted about 4,000 applications. We will now about 20-25 start-ups for angel funding and incubation.” He further added, “Through a comprehensive evaluation process carried out by our partners, we will also about 150 start-ups that would undergo rigorous mentoring by our members, programme partners and other industry partners.”
The application procedure revealed some insights about the emerging tech entrepreneurship landscape in India. Out of the total applications received, close to 23% of the applicants were Bangalore, closely followed by 20% applicants Delhi NCR. Another trend that came to light was that one in every five applications was filed smaller towns. With reference to the demographics of the applicants, over 70% applications came applicants under the age of 30 and about 15% applicants were women.
About 25% start-ups aimed at providing solutions pertaining to education and skill development. The retail vertical had 18% applications followed by media (15%) and healthcare (11%). a technology point of view, a whopping 66% of the applications came for web/internet start-ups, followed by mobile start-ups occupying a share of 24%. Applications Cloud and Big Data were at 16% and 11% respectively.
Photo Source: Mark Hillary