Nasscom aims at helping Indian companies to innovate
Nasscom will soon facilitate funding to the new innovators in technology sector. It is still testing some companies and is developing a model based on mentoring the start-ups.
The information was given by Ashwin Raguraman, senior manager, Innovation Initiative, Nasscom. Speaking after completing the start up round of innovation awards, Raguraman said the apex body of software companies is looking for innovations and giving a push to the new innovators. “The companies we awarded in the start up category in the past are no longer in that category. It shows we are supporting the right kind of companies,” he said.
The start up round for the innovation awards given by Nasscom and Amdocs jointly today concluded in Pune. According the Raguraman and Anshoo Gaur, general manager and head of Amdocs India, over 200 applications were received for the competition. The awards are in four categories viz. Size, core technology based innovation, market facing innovation and process innovation. Out of these, six innovations from each category were shortlisted for awards. These awards will be declared in February 2010. This is the sixth year of these awards and third for the start ups.
In Pune, six companies had their presentations. They were Aspiring Minds (innovatiothe n in Education & Talent Assessment), Rrural Shores Business (Rural BPO), Zukes Mumerix (Engineering Services), String Me )(BPO), Mymo Tech (Hardware and semi-conductor), Urja technology (Pre-call Search).
Gaur said, “In India, only companies who are in growth stage, who have proved themselves get venture capital. Satrt-ups rarely get it. Therefore we have to create VC for companies in incubation stage. Amdocs as of now does not provide VC for innovators even though it has a Business Innovation Lab, which is quite another role. There are plethora of innovations in many sectors and after looking at these, the company will have to provide the helping hand.”
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