India is among the world’s toughest nations for a startup to thrive. Currently, there are just a handful of successful tech startups in India. The country has knowledgeable and highly skilled entrepreneurs, but it lacks the correct startup ecosystem. National Association of Software and Services Companies (NASSCOM) has come up with a unique program called “10000 Startups” to support technology entrepreneurship in India. This program supports tech startups in the early stage of their business by providing angel funding support and industry connections. The 10000 startups program helps to increase the tech startup ecosystem by 5 times.
NASSCOM launched 10000startups.com on 20th March, 2013. NASSCOM wants to incubate, fund and support 10,000 tech startups in the next 10 years via this 10000 Startups program. The partner and sponsors of the organization are Indian Angel Network as well as Google, Microsoft and Verisign respectively. The website focus on multiple activities intended to develop entrepreneurial capabilities at scale, foster entrepreneurship and offer robust early stage support.
It brings the key stakeholders of the ecosystem together. Tech startups that will be involved in the program can get a Startup kit worth $25,000, Rs 5 lakhs to Rs 2 crore of early stage funding, Co-working space at an affordable cost, 3 to 4 months of acceleration or incubation as well as Connection to technology leaders, mentors, potential customers & venture capitalists for creating better quality b-plans & ideas.
Startup kit will include technology & business tools from companies like Google, Amazon, Microsoft, etc. More than 7,000 start-up events (hackathons, best practices workshops and investor roadshows in 30 cities) will be facilitated by this program.
At 10000startups.com, you can apply for angel funding and the accelerator programs. It looks that there are different application processes for every program. When you hit the “Apply Now” button, you will be asked to drop your details at www.facebook.com/NasscomForStartUps/app_190322544. 10000 startups offers between Rs 25 lakh to Rs 2 crore funding from leading angels for Angel funding whereas it offers Rs 5 lakhs to Rs 10 lakhs funding in the accelerator program.
The last date for angel funding applications is 30th April, 2013 and for the acceleration program applications is 15th June, 2013. The acceleration program will start from August 2013. At present, no details regarding the accelerator program is provided.
- No registration required
- Free to access
- Supports tech startups in the early stage of their business
- Provides angel funding support and industry connections
- Offers a Startup kit worth $25,000, Co-working space at an affordable cost and acceleration or incubation
- Facilitates more than 7,000 start-up events