The National Association of Software and Services company (Nasscom) has launched a ten-thousand startup initiative and is inviting applicants from throughout the country to offer funding, acceleration , mentoring and enterprise. Nasscom is a technology based trade organization. It facilitates business and trade and encourages the advancement of research

It has launched a website portal called http://10000startups.com/ to further their aim. To the selected applications, they are also offering a startup warehouse to bolster growth in the nascent stages of startup development. The initiative will witness Nasscom shortlisting about 500 entrepreneurs who will each receive funding ranging from Rs 25 lakh to Rs 2 crore along with startup kits of Rs 10 lakh offering free business tools from Microsoft, Google and AWS, and also go through an intensive mentoring program under industry experts-along with receiving assistance at every step of their startup. As a part of this program, it has also launched StartupRoots in Bangalore to harness the entrepreneurial spirit more. This involved active interaction between the starting entrepreneurs and the established successful names, along with active angel investors. It also included four early stage entrepreneurs pitching in ideas to the angel investors in a ‘Shark Tank’ like format. It draws upon the idea of how much growth India has witnessed in the startup sector and thinks it is imperative to equip the thinkers with the essentials to effectively execute too.In fact, Nasscom has signed a pact with the state of Tamil Nadu for the first ‘startup warehouse’ to be created in the state. Tamil Nadu will provide an area of 8000 sq. feet to accommodate around 50 startups.

The selection for which, would be done by a selection committee appointed , comprising of stakeholders from the government and the industry. The Vice President, Rajat Tandon said that it was a program to encourage innovation and foster growth of startups all under one roof.

This is a concerted effort to develop the growth environment here and foster the entrepreneurial spirit more. And an initiative like this adds significantly to the startup ecosystem in India and contributes to building of the country’s startup impact.