The National Association of Software and Services Companies (Nasscom) has announced the fifth phase of its entrepreneurship support program Nasscom 10,000 Startups "Konnect" and will be reviewing applications from technology startups across the country.
The phase five is focussed on identifying, supporting, incubating, and accelerating innovative technology startups in India, the industry body said in a statement.
"India is the third largest startup ecosystem in the World with immense talent and innovative startups flourishing each day. With the strong support from mentors, industry experts, investors and VCs, we have successfully created a significant impact on the startup ecosystem of the country. Phase 5 is going to be our biggest Konnect to date as we are aiming to create a greater impact across the early stage startup ecosystem," said Rajat Tandon, vice president of Nasscom 10,000 Startups.
Nasscom has shortlisted more than 200 domain centric applications for the fifth phase from startups, which will provide a detailed overview of their business idea and the market opportunity.
Startups that have applied in the last 4 months are now being considered for Phase 5 shortlisting and for the 10K Nurture programme.
The industry body said the shortlisted startups will be pitching to over 100 investors in 6 locations and will have the access to participate in the intensive accelerator pitch and mentoring Konnect sessions.
The program has strong support from more than 50 industry experts (NIPP) and close to 100 incubator partners. The sessions will start in the first week of March across Bangalore, Delhi, Mumbai, Bangalore, Kolkata, Kochi and Hyderabad.
In its last four phases, a total of 11,000 startups applied, 1,100 shortlisted and 500 have been impacted by way of funding , acceleration and mentoring. Some of their impacted startups include SmartVizX, Lazylad, EnglishDost, Flutura, SeekSherpa, Faircent, Hiree, Sliderule, Vidgyor, CustomerXPS to name a few.
Nasscom 10,000 Startups is a startup incubation program whose objective is to create 10,000 domain specific startups in the country by 2020.
Phase Four of the Nasscom 10K Start-ups Konnect had more than 150 startup shortlists that went through pitch and mentoring sessions.
Started in April 2013, 10,000 Start-ups is an ambitious attempt by Nasscom to scale up the start-up ecosystem in India by 10-fold.
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