Indian Angel Network Partners with NASSCOM for tech start-ups

By sagarmedia on April 17, 2012 | Leave a Comment | Edit

Invites start ups in SaaS, PaaS, Education and Skill Building

New Delhi April 18, 2012
Indian Angel Network, India’s most nimble angel group, with over 200 highly influential members, comprising of India’s most successful entrepreneurs and dynamic CEOs, has given a special call to entrepreneurs building ventures in the SaaS, PaaS, Education and Skill Development space.
Announcing this today, Mr. Saurabh Srivastava co-founder of Indian Angel Network and NASSCOM said, “The IAN-NASSCOM partnership is exemplary as it creates a unique platform: bringing young entrepreneurs from around the country to explore raising funds from Asia’s largest angel group, comprising the who’s who of successful Indian entrepreneurs, many of whom have built India’s entrepreneurial software industry. The partnership now leverages IAN members’ strategic thinking and global networks for young start up ventures.” 
Mr. Som Mittal, President of NASSCOM commented, “The vibrancy of technology start-ups in India will be further catalysed by the NASSCOM-IAN partnership. Our priority would be to create specific initiatives like the SaaS-PaaS focus segments, as well as enable a broader collaboration around mentorship and capability development.”
Indian Angel Network board member, Mr. Rehan yar Khan says, “We want to provide startups the tremendous technology business expertise and
C-Level connections that Indian Angel Network brings. By taking an investment from Indian Angel Network a startup can leapfrog sales by instantly obtaining introductions at the highest level to India’s leading companies. They will get Board Members and Advisers who are experts at strategy and execution of technology businesses.”
“Additionally, entrepreneurs can delight in the speed at which IAN will make the investment, allowing them to focus on building a great company fast,” adds Mr. yar Khan
Entrepreneurs will be shortlisted based on their business plans submitted to IAN at Indian Angel Network  website
( http://www.indianangelnetwork.com/Submit.aspx ) by April 20, 2012.
The shortlisted candidates will then present their plan to IAN investors in an informal setting atDelhi, Mumbai, Pune,BangaloreandHyderabadstarting early May 2012.
IAN investors also help build a strong foundation for their investee companies, helping them build their key management, introduce customers, build global footprint ventures, and help with the next rounds of investments or acquisition by global players.
IAN’s portfolio comprises nearly 35 investments. These include Druva, Groffr, Kwench, Jigsee, Karmic, Sanshadow, WebEngage, TaxSpanner, Vayavya, Vienova amongst others. Some of these companies have already provided returns from 3X to 11X, with much more to come!
IAN is partnering with NASSCOM Emerge-Product initiative to pool their expertise and resources to validate and mentor some of the ideas. This initiative will bring two organisations founded on entrepreneurship to help develop the next generation start ups inIndia.

About Indian Angel Network
Indian Angel Network isIndia’s most nimble and national network of nearly 200 business angels investing in start-ups, early stage ventures
As a part of this Network built “By Entrepreneurs, For Entrepreneurs”, investees can gain access to the vast business network of IAN’s influential members, strategic direction, and operational guidance apart from financial investment which is critical for creating large, valuable companies.
In 2011, IAN invested in a deal each month totalling a little over US$ 8 million. IAN’s portfolio companies leveraged IAN’s investment with another US$ 27 million or so from next round funding, bringing in a total of over US$ 30 million to start up companies.
2011 saw three of IAN portfolio companies – Kwench Library Solutions, Druva and TaxSpanner — being chosen among the hottest start ups of 2011 by BusinessWorld and Business Today magazines.
For more information see   www.indianangelnetwork.com
Notes to the Editors:
Mike Gray, SPS Commerce, in a special comment to ZDNet titled Cloud Computing: Demystifying IaaS, PaaS and SaaS (http://goo.gl/znm3E)
SaaS or Software as a Service, widely used form of Cloud Computing, is defined as a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over the Internet.
PaaS or Platform as a Service provides infrastructure on which software developers can build new applications or extend existing applications without needing to purchase development, QA, or production server infrastructure. Salesforce.com’s Force.com, Google’s App Engine, and Microsoft’s Azure are examples of PaaS.