NASSCOM enables early stage start-ups to raise on-the-spot funding at Techstock in Mumbai

MUMBAI, INDIA: As a part of its 10,000 start-ups program, National Association of Software and Services Companies (NASSCOM) in association with Microsoft Ventures organized an on-the-spot funding event for pre-revenue companies on the sidelines of its Techstock event on the 20th of December at Bombay Stock Exchange.

Eight pre-revenue companies - Boutline, Imly, Drawtime, Routo, Jojobu, Parkwalla, Qpeka, Kooki were shortlisted from the applications received for the 10,000 Start-ups program were given the opportunity to pitch their business ideas to a panel comprising of 10 investors.

Rajat Tandon, senior director, NASSCOM 10,000 Start-ups said: "All the companies who participated today are in their conceptualization stage, while four companies were successful in raising funds and two of them also secured a spot in the coveted Microsoft Accelerator program. The real value these companies would receive is in form of the mentoring and connections they would get access to through the respective investors."

Highlighting the various aspects of the initiative Rahul Sood, partner and GM, Microsoft Ventures said, "Microsoft Ventures is committed to strengthen the early stage ecosystem for tech startups in the country, with this format we believe many more prototypes will be able see the light of the day."

Founders of the two most iconic Internet entrepreneurship ventures in India, Ashish Hemrajani, founder, Bookmyshow and Anupam Mittal, founder, Shaadi.com also shared their entrepreneurial journey and advised young companies at the event.