10,000 new IT startups soon: Nasscom

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soonMysore, August 7, 2013,: The National Association of Software and Services Companies (Nasscom), is developing policy issues to encourage the establishment of IT firms in tier-II cities.

To serve as a catalyst for IT growth in these cities, Nasscom plans to encourage 10,000 new startups, according to Nasscom chairman, Krishnakumar Natarajan, said here on Wednesday.

He was speaking at conference on the future of IT and electronics titled, ‘Mysore-the Emerging ITE destination’, organised by the BangaloreITE.biz 2013, the Department of IT, BT and Science and Technology and the Software Technology Parks of India.

Despite the grave economic crisis in Europe and USA, the IT industry in India has achieved 10.2 percent growth on a constant currency basis. “The goal of Nasscom is to achieve $300 billion turnover in outsourcing by 2020,” he said. “The outsourcing industry, overall, did business worth $1.5 trillion and is the largest global industry. It is experiencing a growth of 5-6 percent annually, he added. India has a 58 percent share in the industry.”

He said that emerging firms should concentrate on providing internet services and developing an industry dedicated to mobile applications — as the two fields are experiencing a boom. Delving on strategic changes witnessed by the IT industry in the country, he said the industry has changed from providing project business services to large transformational project business and from basic technology to deep domain expertise.

Innovation in IT will happen outside the arena of large industrial enterprises, he said. Quoting software firm Robosoft as an example, he said that the company which was listed in the ‘Nasscom-emerging 50’ only a few years ago, is now among the most sought after companies in the country.

Incubation facility

P K Das, Director, Software Technology Parks of India (STPI), Bangalore said that STPI has plans to set-up a 50,000-sq-ft incubation facility in Mysore. This facility may give a boost to innovation and entrepreneurship and encourage emerging companies to set-up shop in Mysore.

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