Much in the similar manner as American reality television series, 'Shark Tank', IT industry body Nasscom is holding a 'live-funding' session for budding entrepreneurs as a part of its 10,000 startups initiative, in Bangalore on Saturday.
Christened StartupRoots, it is said to be first such event in India where aspiring entrepreneurs will present their ideas to angel investors including Rajan Anandan (MD of Google India), and Ravi Gururaj (VP, Citrix).
The selected entrepreneurs will get funded on the spot.
Meanwhile, in a release issued on Thursday Nasscom said it has already received over 1000 applications from various budding start-ups since the launch of the '10,000 startups’ programme.
As part of the initiative, Nasscom will short-list close to 500 entrepreneurs who will be eligible for funding ranging from Rs 25 lakh to Rs 2 crore through leading angel investor networks of the country.
Besides selected start-ups will also be offered 3 to 4 months of incubation at incubators of India along with co-working space at affordable cost.
