You are here: Home » Economy & Policy » News
Business Standard

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 Nasscom in providing policy prescriptions.

The think tank has around 30 product start-up companies and individuals including Nasscom 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 iSpirit are members of Nasscom and they would continue to be associated with Nasscom. “The new initiative is not for competing with Nasscom; this will be complimentary to what Nasscom is doing.” Sharma added.

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

In the first year, iSpirit 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 Nasscom and was forming a separate association for the software product industry. In a statement issued on Monday, Nasscom said the reports are factually in-correct.

"Nasscom is a member-led association and has over 1,400 members which includes over 300 software product companies. Nasscom 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.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 04 2013. 20:10 IST
RECOMMENDED FOR YOU
.