The Tamil Nadu Government and IT industry lobby group Nasscom have set up a startup warehouse in Chennai, the first in the state. The warehouse is located on a 8000 sq.ft plot, and can house up to 50 startups at a time.
Startups housed here will be provided with networking sessions, early state mentoring, access to resources from Google, Amazon, IBM Cloud, Microsoft, Kotak etc., while the selection of startups will be finalized by a committee consisting of stakeholders from the government and Nasscom.
Note that Nasscom had set up a 50,000 sq.ft startup warehouse in Bangalore with the help of the Karnataka Government in 2014. The startups would be provided space and internet connectivity at the facility at Rs 5-15 per sq.ft. The incubation tenure, for over 100 startups with 12 employees each, would be 6-12 months.
Other than at Bangalore and Chennai, Nasscom also has startup warehouses in Kolkata, Mumbai, Pune, Kochi, Gurgaon and Hyderabad. The co-working space allows early-stage technology startups to work for 6-12 months during which Nasscom facilitates demos and pitches by startups to investors, large corporate’s, other accelerators/incubators and individual mentors.
Investments & accelerators in India:
– Last month, 500 Startups announced 500 Kulfi, a $25 million fund focused on India, Sri Lanka and Bangladesh.
– The same month, HT Media said that it had invested Rs 1.5 crore in new media startups through its MediaHacks accelerator. The company launched this accelerator in May last year, specifically for early stage startups in media.
– In December last year, Flexeye opened HyperCat, an accelerator and incubator centre for Internet of Things (IoT) startups in Hyderabad.
– In November, French aircraft maker Airbus said it would set up Airbus BizLab, its aerospace startup accelerator, in Bangalore.
– In August, Intel India launched Maker Lab to support startups in Iot, mobile devices and compute domains.
– In June, Hong-Kong based Jaarvis launched the pilot of its India specific accelerator which would invest up to $50,000 in startups.
– In February last year, Rajesh Sawhney’s GSF Accelerator in collaboration with networking giant Cisco said it would launch an accelerator programme for startups in the Internet of Things and cloud space.