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Unlike NASSCOM, which is a trade association formed in 1988 has always been a body majorly fruitful only for biggies like TCS, Infosys, Wipro, HCL etc all being India's software service key players and not software product companies however small entrepreneurs, startup, software product companies were never been choice of this association otherwise India too could have had its own Google, Twitter or Facebook coming out of this country.
As per iSpirt - "India has been a beneficiary of products created outside its borders. What India offers to the world is however the spirit of service and labor intensive activities. To Western markets India is a picture of hard working citizens toiling away in a rural setting or more recently behind rows of neatly arranged desktops."
India has always seen as cheap software labor force, BPO employees comparing to western market, large number of engineers produced per year and today just an emerging market to sell the products produced in countries other than India. However for few years the software product industry is ramping up silently. In 2011-2012, the Indian software product industry is worth of $1.81 billion USD. Indian product startups has seen a 789% growth and a 2173% increase in funded product ventures in the last 3 years.
What iSpirt is exactly for ?
iSpirt is currently focused on existing product companies, entrepreneurs and Indian SMBs and helping them for valuation, merger & acquisition matters and increase early stage risk capital that is available to the software industry right now. Unlike to rumors iSpirit will collaboratively work with NASSCOM
For budding entrepreneurs and product based startups iSpirit has formed a separate offshoot initiative called as ProductNation.in, a platform to nurture and grow the Indian startup product ecosystem. It seeks to inform, educate, and initiate dialogues among key ecosystem participants.
With ProductNation initiative iSpirt will focus on creating an interactive platform for budding startups in India to introduce their products across the globe and take their products to cross-border geographies.
The founding people of iSpirit involve - Vishnu Dusad - MD, Nucleus Software, Vijay Shekhar Sharma - CEO, One97 Communications, Naveen Tewari - Founder & CEO, InMobi and Bharat Goenka - Co-Founder of famous Tally accounting sofware company.
The iSpirt initiative is one milestone for software product industry if taken with vision and will indeed boost the ecosystem in India which is otherwise running without the framework in place the iSprt might be the one which can draw the broad picture for same.
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