As many as nine companies incubating at Startup Village have made it to the second round of selections for a flagship programme launched by IT trade body Nasscom to support 10,000 technology startups across the country.
DecideQuick, iTraveller, Finahub, tagNpin, Tuttifrutti Interactive, 4th Ambit, Smacon Technologies, Cenact and Losinters Labs from the Kochi-based telecom technology incubator will, if chosen by Nasscom for the programme, get support including funding, workspace, networking platforms and a range of services and products to help build their business.
By providing fledgling companies an opportunity to get world-class support, Nasscom’s ‘10,000 startups’ initiative will strengthen Startup Village’s own goal of incubating 1,000 product startups, mainly student enterprises from college campuses, that are working on breakthrough technologies for the global telecommunications industry, over the next decade.
Nasscom has partnered some of the world’s best incubators and accelerators such as Microsoft, 91 Springboard and TLabs, and India’s best angel investor networks for the programme. It received 4,000 applications, out of which only 8 per cent were shortlisted for the second round.
Accelerator support
The nine young entrepreneurs from Startup Village who have made it through the first round of the selection process stand a chance to receive accelerator support, including seed capital, mentoring and advice; angel funding, high-quality office space, linkages with other similar startups and a Startup-Kit package worth $ 25,000 of value added services and credits from Google, Amazon, Microsoft and other companies.
Among the firms selected are DecideQuick has developed a social data analytical tool to help people make smart and informed decisions quickly. iTraveller is an ERP platform for tour operators and travel agents and Finahub is a web based customer management platform that enables share broking companies and equity investment firms to manage all the customer interactions on a single platform.
tagNpin provides loyalty programme as a service to all merchants on a single platform, while Tuttifrutti interactive offers cross platform game development. 4th Ambit is an academic and professional networking site and Smacon Technologies specialises in web and mobile app development.
Cenact is developing multiple mobile and tablet offering around personalised videos and Losinters Labs is working on a new search concept.