NASSCOM partners with Karnataka govt

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R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India
 R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India
R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India

ENARADA, Bangalore, August 12, 2014

The Government of Karnataka said that in partnership with NASSCOM, it is setting-up 50,000 sq.ft. GoK-NASSCOM Start-Up Warehouse NextGen which will be the hub where outstanding technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists.

The GoK-NASSCOM collaboration also launched India’s first Hackcelerator, a unique combination of a Hackathon and an Accelerator to be housed and integrated into this new warehouse facility.

The new GoK-NASSCOM Start-Up Warehouse will be a large integrated facility in the heart of Bangalore and will provide a working space for startup companies to be housed for 6 month incubation terms, co-working space for entrepreneurs to use on pay-per-use daily/weekly basis, a well-equipped community events space available for meet-ups & workshops, an IoT (Internet of Things) Lab, a Design Lab, Mobile Experiences Lab and hoteling office space for visiting corporate executives and investors.

Once operational, this will be one of the largest multi-disciplinary technology incubation facilities in Asia and the largest across the top five metro cities of India.

Sharing his thoughts on the occasion, Mr. R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India, said “Start-Ups have been a growth engine for the industry and the economy for quite some time now. This collaboration with GoK will provide the requisite support to the start-ups and entrepreneurs at the right time in the right shape and form.”

Applications for this new facility will be starting immediately and the facility is expected to become fully operational and ready for occupation by the end of 2014.

The Government of Karnataka will contribute towards the facilities while NASSCOM will contribute to the full-time program management.

NASSCOM will also constitute an advisory board for managing and governing the entire facility and activities at the center.

Industry partners will help mentor and nurture the startup teams at the warehouse, execute skill development workshops, assign executives in residence, provide specialized skills in the areas of product management, mobile, IoT technologies and design.

Once fully finished and occupied, the facility will have capacity to house 100+ startups comprising between 1-12 employees each on a 24×7 basis.

Government of Karnataka recently celebrated the first anniversary of its first GoK-NASSCOM Start-Up Warehouse. The unique facility, set-up in partnership with NASSCOM, resulted in 28 start-ups creating more than 100 jobs and bringing in US$ 1 million of investment and has become a hub of Startup ecosystem community activity in Bangalore. Six of these companies are serving the global market. Under this program over 50 start-up events have been conducted with 2,000 participants. The program also runs an online mentorship impacting over 200 companies in Bangalore and over 500 across the country.

 

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