NASSCOM Current Affairs - 2019
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The Nasscom report on Indian Tech Start-Up Ecosystem said that India continues to the third largest start-up ecosystem after China and US. India has added more than 1300 tech start-ups in 2019 according to the report. Between January to September in 2019, there were 8900 to 9300 startups as compared to 7700-8200 a year ago.
- The investment in startups in the period January-September, 2019 touched 4.4 billion USD.
- The indirect jobs that created by the startup ecosystem can jump to 39 to 44 lakh by 2025 from 14 to 16 lakh in 2019
- The Indian startups have the potential to grow about 4 to 5 times by 2025
- Around 18% of the startups are leveraging deep-tech, fin tech, retail tech that are the most mature sectors with strong metrics
- In 2019, the startups created 60,000 direct jobs as compared to 40,000 in 2018
- Seven new unicorns were added in 2019. This takes the total number of unicorns in the country to 24 which is the third highest number of unicorns in a single country in the world. Unicorn refers to tech startup that reaches 1 billion USD market value. 71% of these unicorns are B2B focused.
NASSCOM is National Association of Software and Services Companies. It is a non-profit trade association of Indian IT and BPO industries.
Tags: BPO Industry • FinTech • NASSCOM • Startups • Technology
NASSCOM Foundation, the Indian IT industry body’s social arm, and Bangalore based software firm Mphasis announced the winners of the 11th edition of NASSCOM Social Innovation Forum (NSIF) award. The NSIF is an ecosystem of over 2,200 social innovations, awarding over 90 social innovation projects, and has given more than Rs.1.5 crore in catalytic grants.
In 2019 edition of awards, seven organisations were declared winners across a range of categories who will receive catalytic grants for innovatively applying technology for social impact. The winners will receive Rs.10 lakh each as catalytic grants and a 12-month Support to Scale industry mentorship from experts, worth more than Rs.20 lakh.
Winners of Award
- Meraki Foundation: in Education category, won the award for upskilling low income parents towards holistic learning of their wards so as to act early to unleash a child’s potential
- Inali Foundation: won for Accessibility for developing an ‘affordable’ myoelectric prosthetic arm.
- PadCare Labs Pvt. Ltd., a Pune-based startup: won for Healthcare for developing ‘Sanicure’, a smokeless sanitary napkin disposal system.
- MHS City Lab: won the Financial Inclusion award for ‘NEEV’ a digital tool for affordable low-income housing
- Watsan Envirotech Pvt. Ltd.: won Environment award.
- NotOnMap (NoM), a Himachal Pradesh-based Community-based tourism start-up: won for Other Social issues for creating livelihood for culturally hidden communities
- Bombay Bijlee