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The National Association of Software and Services Companies (NASSCOM), the trade association for IT companies, launched Accelerate 10X to mentor deep-tech start-ups here on Tuesday.
It will be a six-month training programme divided into 45 days each, with focus on three products -- global acceleration and mentoring, technology (engineering and deep-tech labs) and access (funding) to capital. The programme will mentor 100 start-ups each year, in batches of 25.
The organisation has partnered with technology giants such as Facebook, Google, IBM, Microsoft and Amazon Web Services in setting up engineering and deep-tech labs and innovation centres across the country. Mentoring will be provided in collaboration with partners such as PwC, Xinova and CEOQuest.
The programme will work with venture capitalists and private equity partners such as Saif Partners, Inventus Capital and Axilor. It will focus on areas such as healthcare, agriculture, education, smart cities and infrastructure.
In the last five years Nasscom has incubated early stage start-ups in 10 cities, in collaboration with state governments and start-ups, under its 10,000 start-up initiative. Speaking to mediapersons at the event, Debjani Ghosh, President, said Accelerate 10X is designed to focus on emerging technologies as the demand for advanced deep-tech and AI-related solutions increase. The AI-startup sector saw an over 70 per cent increase in funding in 2017, with natural language processing being a major focus area.
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