Nasscom, the lobby group for Indian Information Technology Services company, has launched a product council to encourage technology product companies from India.
The body, which appointed Citrix Vice President Ravi Gururaj as its Chairman, said that it will try to deliver a $10 billion software products industry by 2020.
There are over 2400 software product firms in India clocking a combined revenue of $2.2 billion presently. Manav Garg of Eka Software, Girish Mathrubootham of Freshdesk and others are part of the council.
The product council was formed based on recommendations of an expert committee chaired by Infosys founder N R Narayana Murthy.
Nasscom has also launched its 10,000 startups program to incubate, fund and support 10,000 technology startups over the next 10 years. Startups that get into Nasscom’s program get early stage funding between Rs 5 lakh to Rs 2 cr, 3-4 months of incubation, co-working infrastructure and access to technology leaders, mentors, potential customers & VCs.
The Product Play
Earlier this year, nearly 30 product firms got together to form another group called Indian Software Product Industry Round Table, or iSpirit. The organisation with former Nasscom product Chair Sharad Sharma, Tally Solutions Co-Founder Bharat Goenka and others, wanted to act as a think tank for the software product industry.