◆How Nasscom 10K program has been empowering India's growing startup ecosystem
【New Delhi】Before co-working spaces and plug-and-play offices became the buzzword in the startup ecosystem in India, industry body Nasscom had opened one of the first such centres in India three years ago with its Startup Warehouse in Bangalore.
Following the success of the 10K program aimed at fostering the growth of 10,000 startups in 10 years, it has made significant headway in creating a micro-ecosystem where entrepreneurs and investors connect and collaborate.
"The program itself began as a startup a little over three years ago, gradually picking up pace as participation rose," says Rajat Tandon, vice president, Nasscom 10K program. With a focus on how startups stand to benefit from this program, concerted efforts were made to create awareness around the initiative, including organizing 650 events anchored around its 'FAME (Funding, Acceleration, Mentoring and Enterprise)' structure. Elaborates Tandon,"With this system, we simply wanted to assure startups who sign up with us that we can get them 'FAME', that is funded, accelerated, mentored and get their enterprises connected overall."
○Xiaomi to bring crowdfunding platform to India
【New Delhi】Xiaomi may bring its crowd funding platform to India where local startups will be able to raise funds for consumer electronics they intend to create, as the Chinese smartphone maker takes step towards creating its ecosystem here.
"We are open to bringing in the programme," said Hugo Barra, vice president, Xiaomi. "But we will have to change certain things before we can launch in India," he added while launching its first home product— Mi Air Purifier 2.
○IT sector slowdown to hit mid-caps worst
【New Delhi】After the top three IT players — Tata Consultancy Services (TCS), Cognizant and Infosys — sounding off warning bells on second-quarter and full-year growth performance, analyst predict that mid-cap players will be worse off.
Most of the large mid-caps, such as L&T Infotech, Hexaware, Mindtree, and MphasiS, share similar business model as the large-caps and have more of less a similar set of clients. Hence a warning by the three large players will not augur well for mid-caps. “All of those firms will be under pressure who have exposure to the BFSI sector and have a similar business model as the large-cap such as L&T Infotech, Hexaware, Mindtree and others. Unless a player has a differentiation aspect or a product play, the mid-cap segment will be squeezed hard,” said an analyst from a leading brokerage firm.
How Nasscom 10K program has been empowering India's growing startup ecosystem
Xiaomi to bring crowdfunding platform to India
IT sector slowdown to hit mid-caps worst
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