NASSCOM inaugurates its second warehouse in Bengaluru
After successfully setting up start-up warehouse in Bengaluru, the National Association of Software & Services (NASSCOM) has announced the inauguration of its second warehouse in the city in the presence of Hon’ble Chief Minister of Karnataka Siddaramaiah, Hon’ble Minister for Bengaluru Development and Town Planning K. J. George, NASSCOM President R. Chandrashekhar, and NASSCOM 10,000 Start-ups Vice-President Rajat Tandon.
Over the years, Bengaluru has developed as the start-up capital of India. The city has nearly 3,100 to 4,900 dynamic tech start-ups and has attained the second-highest growth rate for exit volume and VC investment among the top 20. The warehouse currently has 20 start-ups and with the new space, the warehouse will consist of 100 start-ups. There will be five seats allotted to one start-up. The start-ups will operate for six months. The selection would be finalized by a selection committee comprising of stakeholders from the government as well as the industry, viz. Government of Karnataka and NASSCOM. They will be required to sign a lease agreement with the Start-up Warehouse.
The NASSCOM warehouse has seen a four-fold expansion from 10,000-sq. ft. to 40,000-sq. ft. area. The warehouse will be equipped with the Internet of Things Labs, Design Labs and Mobile Experience Labs.
Shri Siddaramaiah, Hon’ble Chief Minister of Karnataka, said, “Karnataka has traditionally been an entrepreneurially rich ecosystem. Over the years, the city has seen an unprecedented growth in the entrepreneurial ecosystem. We are committed to scaling this even further and are pleased to co-opt with NASSCOM to make this dream a reality. NASSCOM start-up warehouse will further provide a platform for the talented entrepreneurs and give them the space they require. The Government is happy to cooperate and support such programmes in order to boost the entrepreneurial culture of the city.”
Rajat Tandon, Vice-President, NASSCOM 10,000 Start-ups, said, “Karnataka is an entrepreneurial hub. Bengaluru is easily the best place to start-up in India right now. There is easy access to capital and a relative abundance of talented youth who are passionate about working for start-ups. The expansion will help nurture over 500 entrepreneurs under one roof, thereby driving growth and foster innovation under one roof, where start-ups can share knowledge and help build an inclusive yet vibrant economy.”
The start-ups can bring in up to four team members into the incubation programme. All start-ups will get showcased at select NASSCOM events and other events of partner organizations. The Start-up warehouse will also host meetings and workshops with innovators and leaders from the technology and business community. With this expansion, NASSCOM aspires to impact 200+ start-ups by the next quarter from Bengaluru adding to the overall 10K impact number