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Software product firms join hands to form new 'think tank'

iSpirt to work closely with trade bodies including Nasscom in providing policy prescriptions

Pradeesh Chandran  |  Bangalore 

In a move that is expected to give a boost to the fledging software product industry in India, a few industry veterans, investors and software product companies have joined hands to form a think tank.

The group to be known as Indian Software Product Industry Round Table or iSpirt, would work in expanding the software product development ecosystem in India and would work closely with trade bodies including in providing policy prescriptions.

The think tank has around 30 product start-up companies and individuals including Product forum Chair and former Yahoo! India R&D head Sharad Sharma, Tally Solutions' Co-Founder & Managing Director Bharat Goenka and InMobi's co-founder and CEO Naveen Tewari, as its members.

“In India, there are not many think tanks. Through this initiative, we are trying to help and create an ecosystem working with product companies," said Sharad Sharma, one of the founding members of iSprit.

He said around a dozen of the founding members of are members of and they would continue to be associated with “The new initiative is not for competing with Nasscom; this will be complimentary to what is doing.” Sharma added.

will be supported primarily by grants and contributions from its member companies.

In the first year, will concentrate on initiatives like iSMB and M&A Connect through which it is trying to help SMB product companies and merger and acquisitions.

Earlier, there were media reports that the group had split from and was forming a separate association for the software product industry. In a statement issued on Monday, said the reports are factually in-correct.

"is a member-led association and has over 1,400 members which includes over 300 software product companies. has a defined focus and initiative for the software product sector, and will continue to grow and contribute to build this sector," the statement said.

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