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R Chandrasekaran, Executive Vice-Chairman of Cognizant India, is taking over as Chairman of software industry body Nasscom from Krishnakumar Natarajan, CEO and MD of Mindtree. Nasscom’s Executive Council appointed BVR Mohan Reddy, Founder, Chairman and Managing Director of Infotech Enterprises, as Vice-Chairman.
Path to Silicon Valley Chandrasekaran takes over at a time when the industry body is fighting criticism for allegedly favouring large companies over smaller technology firms.
As a step in correcting this perception, Nasscom is planning to take 25 start-ups to the Silicon Valley. Addressing a gathering of over 100 start-ups in Bangalore on Wednesday, Chandrasekaran said that the industry body aims to provide a global platform for innovative young businesses to collaborate, connect and co-create. “It will be a week long immersive experience in which these start-ups will have a first-hand experience of Silicon Valley product ecosystem, access to global venture capitalists, angel investors and chance to connect with big tech enterprises,” he added.
Called InnoTrek, Nasscom plans to cover three cities in the US in seven days to help the selected start-ups understand what it takes to build world-class products. Companies like Eka Software, Ezetap, and Fusion Charts are among the chosen 25.In April last year, Nasscom invited the first round of entries and shortlisted entrepreneurs for its 10,000 start-up programme, who were provided funding ranging from ₹25 lakh to ₹2 crore through angel investor networks. Selected start-ups were also offered three-four months of incubation at leading incubators, along with affordable working spaces.
Beating slowdown In the first phase of the programme, Nasscom said it had received 7,000 application. Another 3,000 applications have already come in for phase two.
Industry watchers also believe that Chandrasekaran will continue with Nasscom’s 20:20 vision, something, which his predecessor Natarajan had done, along with other plans put in place to accelerate the sector’s growth.
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