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Nasscom hold its fourth edition of 10,000 Start-ups initiative “Innotrek 2017” in Silicon Valley, US

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Bengaluru, April 18, 2017: Nasscom will hold its fourth edition of 10,000 Start-ups initiative — “Innotrek 2017” in the Silicon Valley of the US from May 1-6, said the Indian IT industry’s apex body on Tuesday.

“As we want our start-ups to grow and compete with those in the Silicon Valley, the six-day mega event will provide them a platform to step it up a notch and get recognised internationally,” said National Association of Software Services and Companies (Nasscom) President R. Chandrashekhar in a statement here.

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In all, 27 Indian start-ups and five of the Silicon Valley will showcase their products and technologies, while 70 speakers from the world over will address 150 delegates at the week-long event.

Andhra Pradesh Chief Minister N. Chandrababu Naidu, Department of Industrial Policy and Promotion Secretary Ramesh Abhishek, Electronics & IT Secretary Aruna Sundararajan, Nasscom Product Council Chairman Ravi Gururaj and Chandrashekhar will lead the delegation of entrepreneurs for the tech expo.

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“The Innotrek programme will provide our start-ups an opportunity to benefit and improve their products and services and grow in their domains,” Nasscom member Ashok Madravally, who leads this initiative, said in the statement.

The Innotrekkers will visit campuses of Google, LinkedIn, Microsoft, IBM, and Target in the Valley during the event. They will also have an opportunity to showcase their cutting-edge, future ready innovations to various stakeholders.

“The networking activities and site visits will help our entrepreneurs to get a better understanding of the global work culture and exchange views on building a constructive work environment for their own ventures,” added Chandrashekhar in the statement. (IANS)

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Report by NAASCOM Reveals Addition of over 1,300 Start-ups in India in 2019

While Bengaluru, Delhi-NCR, and Mumbai are home to 55-58 per cent start-ups in India, Jaipur, Ahmedabad, Kolkata and Kochi are the emerging start-up hubs in the country, said the report that Nasscom brought out in collaboration with global management and strategy consulting firm Zinnov

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Over 31 million people of Indian birth or descent are part of the Indian diaspora spread around the world. Of them, 3.1 million, or 10 per cent, are Indian-Americans living in the US.
The start-ups by Indian immigrants increased seven per cent over the prior period and a full 33.2 per cent of all start-up companies were founded by Indian Americans. Pixabay

India added over 1,300 start-ups, including 7 unicorns in 2019, making the country the third biggest start-up ecosystem in the world behind China and the US, according to a new report from industry body National Association of Software and Services Companies (Nasscom).

The total funding received by start-ups in 2019 stood at $4.4 billion, said the report, adding that total investment in the start-up ecosystem increased by 16 per cent year-on-year in 2019.

The cumulative valuation of the start-ups has now crossed $55 billion. The addition of 7 new unicorns in 2019 has brought up their overall number to 24, according to the report titled “India’s Tech Start-up Ecosystem”.

These 7 unicorns are Pune-based software company Icertis, Bengaluru-based Ola Electric, Delhi-based logistic courier service provider Delhivery, Gurugram-based cargo service Rivigo, Pune-based data protection and management-as-a service Druva, Mumbai-based fantasy sports platform Dream11 and Bengaluru-based online grocery store BigBasket.

The Indian start-up ecosystem has the potential to grow four times by 2025, it added.

Technology, Entrepreneurship, Resources
The approach is to create a bridge between the ‘physical’ and the ‘digital’, and between rural and urban through well-designed platforms, thereby amplifying the possibilities for creating start-ups across the country. Pixabay

“There are multiple levers propelling this remarkable growth of the ecosystem that are bolstering the Indian start-ups as well as creating an environment conducive for continued innovation,” said Nasscom president Debjani Ghosh.

“What stands out most starkly in this report is how various elements of the ecosystem are coming together in symphony to give rise to an orchestra of innovation – right from government support, evolution of the investor landscape, increase in participation from the corporates, growth of national digital infrastructure, to incredible global exposure,” she said.

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The report showed that during 2014-2019, an estimated 8,900 to 9,300 start-ups were born, with their overall base growing at 12-15 per cent year-over-year.

While Bengaluru, Delhi-NCR, and Mumbai are home to 55-58 per cent start-ups in India, Jaipur, Ahmedabad, Kolkata and Kochi are the emerging start-up hubs in the country, said the report that Nasscom brought out in collaboration with global management and strategy consulting firm Zinnov. (IANS)