Nasscom shifts focus to mentoring young startups
When Manjunath M Gowda sold his technology startup S7 Software to California-based internet-security software maker Blue Coat Systems for $8.25 million, information technology industry body Nasscom played a key role to help him negotiate hard and get the best deal.
“I had no idea how to valuate, quote or negotiate in such deals and Nasscom mentors helped me out in that,” says Gowda, who received mentoring from Nasscom members such as MindTree CEO Krishnakumar Natarajan and entrepreneurs Sharad Sharma and Sanjay Anandaram.
Nasscom’s focus as lobbyist for the country’s offshoring industry or big boys club is now shifting to mentoring young startups whose revenues are growing rapidly despite the economic downturn.
“India was very much known for services. It is heartening to see that more than 2,400 product startups have emerged in the last one or two years,” says Nasscom president Som Mittal. Besides handholding, the trade body is also now enabling early stage investment to catalyse the start-up ecosystem in the country.