HindustanTimes Wed,01 Oct 2014

Let 10,000 start-ups boom: Nasscom, Google, MS team up

HT Correspondent, Hindustan Times  New Delhi, March 20, 2013
First Published: 21:01 IST(20/3/2013) | Last Updated: 21:02 IST(20/3/2013)

The National Association of Software and Service Companies (NASSCOM) on Wednesday announced a programme to incubate, fund and support 10,000 technology start-ups in India over the next ten years partnered by Indian Angel Network and supported by Google, Microsoft and Verisign.


Experts see the move as a clear sign of India’s emergence as a major destination for software development as cloud and mobile computing become more mainstream platforms in mass computing technology usage.

“The programme (10,000 start-ups) aims to catalyse the technology start-up ecosystem by 5X and create a significant national impact on employment, GDP, innovation and entrepreneurship indices. This is one of the largest initiatives that NASSCOM is undertaking and will be vital to realise the industry vision of $300 billion by 2020,” said Som Mittal, president NASSCOM.

The current size of India’s software industry, which fuels aspirations among millions of middle-class Indians, is at an estimated $100 billion (R5.5 lakh crore).

more from Business

Rajan holds interest rates, EMIs unlikely to dip soon

The Reserve Bank of India (RBI) kept rates on hold on Tuesday despite pressure from industry and government hopes that the central bank would lower borrowing costs to aid an incipient economic recovery.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved