March 15th, 2016
SETS UP 10k STARTUP WAREHOUSE IN VIZAG
Hyderabad, 15 March 2016: In order to create a world-class technology start-up ecosystem in the state, the Government of Andhra Pradesh, in partnership with NASSCOM, today announced the inauguration of the NASSCOM Start-Up Warehouse in Vizag where technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists and investors. R. Chandrasekhar, President, NASSCOM, signed the MoU for initiating NASSCOM 10K activities at Sunrise Tower Vizag in presence of Hon’ble Chief Minister N. Chandrababu Naidu.
Aiming to create a micro ecosystem where start-ups and entrepreneurs can work together and share experiences, ‘NASSCOM 10,000 Start-ups’ is setting up ‘warehouses’ across states. The new NASSCOM Start-Up Warehouse in the city of Vizag will provide a co-working space for start-ups to be housed for 6 month incubation terms, co-working space for entrepreneurs to use on daily/weekly basis and a well-equipped community events space available for meet-ups & workshops. The entrepreneurs will have a list of benefits which could help polish their entrepreneurial skills as well as improve upon their marketing abilities by way of Connect sessions, early stage mentoring and access to resources from Google, Amazon, Microsoft, IBM cloud, Kotak etc.
Hon’ble Chief Minister of Andhra Pradesh N. Chandrababu Naidu said, “To create a more vibrant start up ecosystem in the region we need partnerships like these which help in encouraging the local entrepreneurs. NASSCOM is doing tremendously well in support of the start-up ecosystem in the country. We need such collaborations in every city to boost this ecosphere. The State Govt. will extend all support to the NASSCOM Start-up Warehouse at Sunrise Tower Vizag, to ensure creation of a world-class technology start-up ecosystem in the city.”
R. Chandrasekhar, President, NASSCOM, said, “Vishakhapatnam has great scope to emerge as a strong start-up hub in the coming years. The entrepreneurs here should be given a favourable and encouraging environment to establish themselves as creators of unique technology products. Through this strategic partnership with the Government of Andhra Pradesh, NASSCOM aims to establish a robust start-ups community and culture in the state which influences innovation in technology to further help the society.”
The first startup warehouse was set up in Bengaluru in 2013, followed by Kolkata, Navi Mumbai, Pune, Kochi, Gurgaon and Hyderabad. Since inception of Start-up Warehouses, XX start-ups have got incubated so far across cities, from which XX number of startups have got funded. The 10,000 Start-ups program has initiated start-up warehouses across different states to create a micro-ecosystem where many start-ups and entrepreneurs can work together and share their experiences with each other. The environment will result in a collaborative approach and a rub-off effect of working alongside with people who share a passion towards solving some of the problems faced by society, consumers, businesses etc.
About NASSCOM 10,000 Startups
10,000 Start-ups is an ambitious attempt by NASSCOM to scale up the start-up ecosystem in India by 10x. 10,000 Start-ups aims to enable incubation, funding and support for 10,000 technology start-ups in India over the next ten years. The program’s vision is to foster entrepreneurship, build entrepreneurial capabilities at scale and strengthen early stage support for tech start-ups. The initiative brings together key stakeholders of the ecosystem including start-up incubators, accelerators, angel investors, venture capitalists, start-up support groups, mentors, and technology corporations. Since its launch in April 2013, we’ve done about 600 events in 25 cities of the country which were attended by a whopping 30,000 attendees and received 11,000 Applicants, 1100 Start-ups Shortlists, and 150 Impacts. The program is supported by Google for Entrepreneurs, Microsoft Ventures, Kotak, Amazon Web Services and IBM.