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).