Is NASSCOM Planning on New Silicon Valley?
It didn’t get me goosebumps though the news from NASSCOM was certainly exciting for SME entrepreneurs like me. The National Association of Software and Services Companies (NASSCOM) has revealed its new initiative, “10,000 start ups” and I think we can expect the growth of India’s economy. Som Mittal, president NASSCOM announced that the program 10K start ups is one of the biggest initiatives which aims at catalyzing the tech start ups.
Does this mean that NASSCOM’s about to create a New Silicon Valley in India?
Because just like Silicon Valley, that has engulfed many large technology corporations and small start ups under its umbrella becoming a leading hub for IT field; NASSCOM is planning to bring incubate, fund and support 10,000 technology start-ups in India over the next ten years.
So will it be competing with Silicon Valley in the coming years? Well who knows!
NASSCOM has partnered with Indian Angel Network and some other biggies like Google, Microsoft and Verisign for the program to ensure and turn its initiative to a big success.
Further, I’m sure it would have a great national and economical impact on the technology ecosystem. Although it is assumed that there would be 10 times more start ups in the next ten years, a few things still coil in my mind. Will the competition in the market increase due to new companies landing to the markets? Would the “survival of the fittest” work for such companies? Guess, we’ll have to wait and watch!