GoK and NASSCOM to set a tech Warehouse

BANGALORE, INDIA: The Government of Karnataka (GoK), in partnership with NASSCOM, announced the setting-up of a 50,000 sq.ft. GoK-NASSCOM Start-Up Warehouse NextGen which will be the hub where outstanding technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists.

The GoK-NASSCOM collaboration also launched India's first Hackcelerator, what they call, a unique combination of a Hackathon and an Accelerator to be housed and integrated into this new warehouse facility.

The new GoK-NASSCOM Start-Up Warehouse is explained as a large integrated facility in the heart of Bengaluru and will provide a working space for startup companies to be housed for six month incubation terms, co-working space for entrepreneurs to use on pay-per-use daily/weekly basis, a well-equipped community events space available for meet-ups & workshops, an IoT (Internet of Things) Lab, a Design Lab, Mobile Experiences Lab and hoteling office space for visiting corporate executives and investors. 

R. Chandrasekaran, Chairman, NASSCOM, and Executive Vice Chairman, Cognizant India, said "Start-Ups have been a growth engine for the industry and the economy for quite some time now. NASSCOM had always focused on the three core-pillars of - Evangelizing Entrepreneurship by addressing identified challenges and promoting entrepreneurship as a preferred career option, building capacity by educating aspiring and early stage entrepreneurs on various aspects, and enhancing early stage support for Startups. This collaboration with GoK is a great leap in this regard and will provide the requisite support to the start-ups and entrepreneurs at the right time in the right shape and form."

Applications for this new facility will be starting immediately and the facility is expected to become fully operational and ready for occupation by the end of 2014.

The Government of Karnataka will contribute towards the facilities while NASSCOM will contribute to the full-time program management. NASSCOM will also constitute an advisory board for managing and governing the entire facility and activities at the center.

Industry partners will help mentor and nurture the startup teams at the warehouse, execute skill development workshops, assign executives in residence, provide specialized skills in the areas of product management, mobile, IoT technologies and design. Once fully finished and occupied, the facility will have capacity to house over 100 startups comprising between 1-12 employees each on a 24x7 basis.

Bangalore has emerged as the second largest technology hub on the planet after Silicon Valley. The main attraction of the City is its rich and diverse talent pool, ideal eco-system consisting of 400 plus R&D and Innovation Centers and pro-active government support for the industry, the announcement added.