In an exclusive interview to CNBC-TV18’s Shereen Bhan, Debjani Ghosh, president and Rishad Premji, chairman at Nasscom spoke about information technology industry body's new initiative called the ‘Accelerate 10X’.
Speaking about the initiative, Ghosh said, “We launched Nasscom 10K in 2013, when there were roughly handful of startups in India. The goal at that point was in 10 years, we will reach 10K startups and we will create India as a thriving startup ecosystem. Five years down, we are the third largest startup ecosystem in the world and it's a growing startup ecosystem, seven percent growth.”
“Technology is changing everything around us. The advances in technology is providing opportunities to the entire industry to innovate, to disrupt and to find the kind of solutions to India’s problems that we have never been able to find till now. However, that requires a very high level of innovation, a very high level of capabilities and that requires scale. I think it's time to look at the startup ecosystem and see how do we take them to that next phase where they can drive the kind of disruptive innovation that is required for India that will also bring in the scale," Ghosh said.
"Accelerate 10X is an initiative under 10K that will focus on bringing together the entire ecosystem. From the accelerators to the venture capitalists (VCs), to the tech companies and to focus on 100 of the best deep tech startups in India. Invest in them and work with them for around 6 months to build the capabilities that will allow them to innovate at a global level and create the kind of solutions that are needed,” she added.
"Part of the magic of Nasscom is that it works very closely with the government. The magic is being able to bring all different stakeholders together. How do you bring government together? How do you bring corporates together? How do you bring venture together? How do you bring skilling together? How do you bring these different capabilities together to ultimately create magic in building these companies as it cannot work in silos," Premji said.
"That is the credibility of Nasscom and the magic of Nasscom is that it's able to work across different stakeholders and it has the credibility to work across different stakeholders," Premji added.