Zoho! redBus! SlideShare! We know what they have in common. These are some of the remarkable successful startups in India. But why does it stop there? Why does a country which has around 3 million IT professionals produce only few such stories? 10000 Start-ups lists some of the reasons as lack of acceptance, fear of failure, low awareness of tech trends and opportunities, lack of business management skills and fragile early stage support.
10000 Start-ups is a NASSCOM initiative which is a unique initiative to support technology entrepreneurship in India. They support entrepreneurs by quickly launching and scaling their ideas. The goal behind this initiative is Funding, Acceleration, Mentoring and Enterprise connects (F.A.M.E.)
How do they work?
10000 Start-ups have partnered with some of the best companies who are ready to invest in startups and assist them in various ways. Their services include langels’ support for a working prototype in terms of funding and acceleration and also a very effective Mentor Connect Program. They even provide a cool Startup kit which has a lot of goodies, right from banking to Cloud Platforms.
10000 Start-ups gets around 7000 applications per year from which 500 are shortlisted and 30 are mentored and incubated. Last year, eight new startup ideas were pitched in to a 10-panel member of investors out of which the final funding was awarded to four of them.
- The first was Boutline, a social media engagement platform which scours the web for a user’s specific interests.
- The second was Routo, a paid computer SMS service application.
- Drawtyme has a mobile video platform for teachers to share interactive videos with students and
- Imly is a marketplace of home-cooked, sumptuous food and delicacies.
You can check out their blog which is filled with technical do-how’s. If their talent spotting remains to be good as it has been till now, other countries are to face a tedious and stronger competition than they did before.
Website : www.10000startups.com