Nasscom to create database of technological start-ups

The National Association of Software and Services Companies (Nasscom) is for the first time planning to list technology start-ups. By doing so, it believes, start-ups can be tracked and it will help aid their growth.

“In order to keep track of the birth rate and mortality rate of start-ups, we are planning to start a process of listing the companies. We want to improve our efficiency as an industry body by helping young entrepreneurs,” said Sharad Sharma, Chair, Nasscom Product Conclave.

“We had done a listing of product companies in 2008 for a Nasscom study. With the new move, we will list all the technology start-ups in India, regardless of their businesses. They can be a product or services company,” said Sharma.

The list will track the number of start-ups annually, those successful and those which met with failure. It will also track which sectors these belong to and the revenues they generate. The IT industry body expects this exercise will also ease the information needed by funding institutions.

“Through this, we are planning to identify strong start-ups and also help them grow their pie. We also intend to track the technology areas that companies are focusing on,” said Sharma.

The process is expected to begin from January and would be done by a private entity, which will collect the information across the country.

Nasscom will look at two ways of aising the start-ups.

The first will be voluntary, wherein companies can come and register the details with Nasscom for free. The second way is by tracking their life events, such as fund-raising activity or release of products or services.