News: NASSCOM gets 4,000 start-up applications for Angel Funding


NASSCOM gets 4,000 start-up applications for Angel Funding

Majority of applications were from Bangalore, followed by Delhi NCR

Of the total applications received,close to 23% of the applicants were from Bangalore, closely followed by 20% applicants from Delhi NCR


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As a part of the recently launched ‘10,000 start-ups’ programme, National Association of Software and Services Companies (NASSCOM) on Wednesday released insights on the tech entrepreneurial landscape announcing the receipt of 4000 applications for Angel Funding and Acceleration under the 10,000 Start-ups programme. NASSCOM had started inviting applications for the ‘10,000 Start-ups’ programme on April 5, 2013 and closed applications on May 30, 2013.

NASSCOM President Som Mittal said, “We are overwhelmed with the response received for the programme. We have close to 14,000 entrepreneurs from over 80 cities registering with the programme who submitted about 4000 applications. We will now select about 20-25 start-ups for Angel Funding and Incubation.”

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 per cent applicants were women.

Mittal said the applicants would go through a rigorous evaluation process. “Through a comprehensive evaluation process carried out by our partners, we will also select about 150 start-ups which would undergo rigorous mentoring by our members, program partners and other industry partners,” he said.

About 25 per cent start-ups 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.

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Topics: Entrepreneurship, #Updates

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