Monday, December 21, 2009

Innovative Start ups at Nasscom event

As many as six start-up businesses presented their innovations to a panel of experts and made a case for support in different areas, especially early stage funding.

Nasscom senior manager for Innovation Initiative, Ashwin Raghuraman, told mediapersons that the details of the presentations made during the day would be held back until the final results are declared early next year in Mumbai. He, however, said that three out of the six innovations came from the telecom and telecom driven ITservices.

Rural Shores presented a plan to create a network of business processing outsourcing in the country's rural hinterland while Tring M presented their technology development to offer value added services to mobile phone users; Urja presented a plan to facilitate pre-call inserts, Raghuraman explained.

Raghuraman said most of the start up businesses have been facing the problem of early stage funding and Nasscom has been helping such businesses through a corpus called India Innovation Fund built out of endowments from IT majors.

In addition to the start up round which took place in the city, Nasscom innovation showcase will see presentations coming from three more categories including innovations based on core technologies, market facing innovation which will have an impact on client businesses and internal process innovation which will improve the efficiency of organisational processes.

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