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The National Association of Software and Services Companies in partnership with Microsoft Ventures has enabled four start-ups to raise a sum of Rs 10 lakh each as part of its 10,000 Start-ups initiative.
At the association’s Techstock event here last week, Boutline, Routo, Drawtyme and Imly won spot funding after their business ideas were adjudged best by a panel of 10 investors.
Boutline and Imly were also accepted in the Microsoft Accelerator programme, said the association on Tuesday.
Eight start-ups were shortlisted for the funding. Jojobu, Parkwalla, Qpeka and Kooki were the other four shortlisted. The association has begun the 10,000 Start-ups programme with support from Google, Kotak, Microsoft and Verisign and aims to help fledgling companies with funding, mentoring and industry connections.
The fact that four post-prototype start-ups have raised funds on the spot from a panel of entrepreneurs and well-connected mentors, would give tremendous confidence to those who aspire to start-up shortly, Rehan Yar Khan, Managing Director, of Orios Ventures was quoted as saying.
Orios Venture Partners is an early stage venture fund which primarily invests in software and technology-enabled start-ups.
Among the winners, Boutline manages an event audience engagement application, while Routo creates suite of location sharing application for business listings and location tracking. Drawtyme offers a mobile video platform for teachers to share interactive videos with students and Imly offers marketplace of homecooked delicacies.
