India’s IT industry representative body NASSCOM – the National Association of Software and Service Companies has opened its first co-working facility. It’s called Start-up Warehouse, and it’s created for tech start-ups and the entrepreneur community in the Diamond district of Bangalore.
Located in Bangalore’s Diamond district, the warehouse has about 10,000 square feet space with approximately 70 seats. The entrepreneurs will also have leased internet line, power backup, and four meeting rooms.
Its a part of the joint initiative launched by Nasscom in April 2013 with partners like Google, Microsoft and Verisign, the ’10K initiative’ is aimed at nurturing 10,000 start-ups in the next few years.
The focus of the initiative is to take already existing methods of start-up support to a larger scale.
NASSCOM for Start-ups encompasses three major pillars:
- One is fostering entrepreneurship through evangelizing and creating awareness.
- The second is creating entrepreneurial capability at scale by engaging deeply with aspiring entrepreneurs through digital / social channels and start-up support groups.
- The third is incubating and facilitating funding through partnerships with leading incubators and angel networks.
The Start-up Warehouse has been introduced to create a micro-ecosystem where early stage start-up founders can work together, share their leanings and best practices with each other.
This collaboration with NASSCOM to provide world class infrastructure to start-ups and expected to spur the growth of the technology start-up companies operating in the region.
NASSCOM has already received about 4000 Expression of Interests for the warehouse as it was part of the 10,000 Start-ups application process. Further, the selection would be finalized by a selection committee comprising of stakeholders from the government as well as the industry.
KK Natarajan , Chairman, NASSCOM said, “Within the first 150 days of its inception, the 10,000 start-up program has received an overwhelming response and achieved numerous milestones in this short journey. The launch of the warehouse facility for start-up companies in Karnataka is yet another milestone to create, sustain and boost the entrepreneurship culture within the state.”
NASSCOM also plans other such facilities across key cities in the country, to provide world class infrastructure to tech start-ups at a highly affordable cost. The model for a start-ups warehouse is to identify a central, well connected, plug-and-play working space and offer it to Start-ups for the first 6 months of their operations. The start-up warehouse would also be visited frequently 10,000 Start-ups mentor and investor network who would provide one-on-one mentor-ship to the Start-ups based at the warehouse.
I.S.N. Prasad, Principal Secretary to Government, Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, said, “Karnataka is the country’s leading hub of technology innovation and it is imperative to continue steering its growth and foster entrepreneurial culture in the state by various policy initiatives.
All these years, NASSCOM has been extensively focused on the IT and software services industry including Business Process Outsourcing (BPO). But since the body itself is dominated by representatives of large IT and software services companies, many smaller software product firms felt that NASSCOM was not doing much for the start-up end of the software product development ecosystem in India.
In fact, to address this issue, a new think tank group known as the Indian Software Product Industry Round Table, or iSpirt, was formed around January 2013. Interestingly, it was this move that forced NASSCOM to come out with its 10K start-up program and send out a message that the body is equally interested in supporting software product development as it is in IT and software services in India. However, iSpirt has already stated that it’s not a NASSCOM competitor and both groups are working closely with each other.