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NASSCOM Initiates the Setup of Warehouses Empowering 10k Startups

NASSCOM is a premiere organization that aims at enabling the IT-enabled product and services in India to be more reliable, innovative and friendly in the world. The main visions of this organization are:

Setting up a strategic direction for the industry: By strategic direction we mean the mechanism by which developmental projects can trace their requirements in a way that all the strategic goals are met .In addition to this, it ensures that implementations are done in accordance with the business strategies in order to create appropriate business value.

Best practices and collaboration: By best collaboration practices we mean that individuals work in a proficient manner as a team to attain specific business goals. It means directing their efforts in the best possible way to accomplish business objectives.

Industrial body NASSCOM is aiming to set up a warehouse in port city Vishakhapatnam under its 10,000 startups to foster technological setups with creative business ideas. All those who are aspiring to become business entrepreneurs and venture capitalists shall move ahead for the same.

This warehouse aims at facilitating working space as well as mentorship in collaboration with the government of Andhra Pradesh. A memorandum of understanding has also been signed in the context of this establishment.

Chief minister N.Chandrababu Naidu has signed up this memorandum. In addition to this, State IT minister Palle Ragunatha reddy, NASSCOM president R.chandrashekhar, IT advisor,J Satyanaranayan and secretary Phani Kishore were also present during this time.

A whole working space for the new startups shall be provided on the daily/weekly basis with a 6-month incubation term. Well designed community events shall also take place for promotion of new ventures and other community events during this time.

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The Main objective of the whole setup is to encourage entrepreneurship to the best possible extent and also to provide favorable opportunities to the business units to develop skillfully.

NASSCOM has the predominant aim to promote awareness among all students and youngsters related to entrepreneurship and boost them to become successful entrepreneurs in future. All the students are it NRIS or foreigners shall be inspired for the same.

Furthermore, the aim of NASSCOM is to make India as a hub of innovation and IT professional services. Vishakhapatnam is all set to provide necessary support and assistance for initiating and boosting the growth of the technical startups. This assistance shall be in terms of sufficient funds which shall be provided to further facilitate the growth of the venture capitalists.

Providing platform to interact and work efficiently is focused. Another aim was to provide enough space as above mentioned and to establish warehouses in TIER-1 and TIER-2 cities in the cities.

The sole aim of this venture is to encourage entrepreneurship among the students and all the aspiring youngsters.

A release from chief minister’s office further said that invitations regarding the event shall be sent to all the reputed institutes across the world including NRI’S and foreigners. Furthermore, sufficient funds and incubation support shall be provided to all the technological units in India over the coming 10 years.

The chief minister further said that they would act as the hotspot for all the startups being initiated in the country.