Nasscom 10000 Startups To Expand Startup Warehouse To 8 Cities By 2016

Seeing the growth opportunity, Nasscom 10,000 startups, an initiative by industry lobbying body, Nasscom, in a bid to impact over 10,000 startups by 2023 is building the base for expansion. The organisation has announced to expand its warehouse footprints to 8 cities by March 2016.

It has already incubated over 1100 startups virtually and over 80 startups physically. And now it expects to increase this number.

Speaking at a partnership announcement with IBM for its Cloud services, Rajat Tandon, Vice President of Nasscom 10000 Startups initiative, said, “We started with our first startup warehouse in Bangalore which was a 10,000 sq ft space, we are increasing it to 40,000 sq ft and will host 350 seats. Apart from the current footprint, we would open 5 more warehouses by this fiscal.”

The new warehouses are expected to come up in Gurgaon, Mumbai, Pune, Chennai and Hyderabad.  At present, it is running three warehouses in Bangalore, Kolkata and Kochi. The startup warehouse in Bangalore at Diamond District hosts over 64 startups, while at Kolkata they have 9 startups. Overall it has over 80 startups incubated physically.

So far, the startup warehouse has raised over $9 Mn funds for these startups and generated over 400 jobs. According to the data shared by Rajat, 6 out the 64 startups have seen successful exit with acquisition.

Apart from this, the initiative is looking at opening three labs in Bangalore city, dedicated to IoT, Mobile and Design.

Nasscom also launched a dedicated website for the startups, ‘Techstartup.in’ that runs on IBM Cloud. Last year, it partnered with IBM Cloud to launch a Global Entrepreneurship Program. Under this, over IBM will over $10.6 Mn cloud credits to Indian startups.

It is raining funds and investment for startup Ecosystem in India. Every year 7000-8000 startups are launched in the country, raising over $3 Bn fund in just last one year. A study by Evans Data Corp suggests that with 2.75 Mn developers, India, currently, has the second largest developers population. And by 2018, that number will grow by nearly 90% to 5.2 Mn surpassing the US in the most number of developers.

IBM Cloud Data center

Parallel to this, IBM announced to set up its first public cloud datacenter in the country, hosted in Chennai. This is part of IBM’s $1.2 Bn investment in expanding data center network in the country IBM has launched a datacenter in Mumbai in 2014. Globally, IBM has around 42 datacenters and it plans to set up another four datacenter by end of this year.

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