To help software product development companies overcome initial challenges, Nasscom, on Wednesday, announced the constitution of ‘Product Business Guidance Panel’ (PBGP).

“In keeping with Nasscom’s overall agenda of continuously identifying new opportunity areas and creating an enabling environment for the growth of the industry, we announce the setting up of the Product Business Guidance Panel,” Nasscom President Kiran Karnik said in a statement.

Various aspects
The panel would function as a sounding board for entrepreneurs, organisations who wish to be guided on various aspects of setting up and running a software product company, Nasscom said.

The indigenous software product sector was still at an early stage of development and needs guidance from experts, irrespective of the fact that India has won global recognition as a software powerhouse, Mr Karnik added.

The PBGP, under the Product Forum Special Interest Group, will comprise of a core group of industry representatives, with the objective of functioning as a sounding board for entrepreneurs and organisations who need guidance on various aspects of setting up and running a software product company. Besides providing necessary guidance and advice, the panel will also ensure adequate government support and create an ecosystem that is suited for the  growth of this segment. The panel will also facilitate meetings with investors.

Initial challenges
According to Nasscom Product Forum and Founder Chairman Subash Menon, “The objective is to handhold the software product development companies. New product companies will get the benefit of experience from the panel members to help them overcome the initial challenges.”

“Since the panel members have necessary experience, we can help start ups position themselves better to avail VC funding. We can get the initial dialogue started for them,” Mr Menon added.

The forum has identified the need to guide entrepreneurs who have business ideas in the software product space and are striving to get those ideas off the ground. Mr Menon said, “We foresee growth of product development companies in the financial, telecom, healthcare, logistics etc verticals.” As the retail sector is burgeoning, we can expect many product development companies in that space too, he added.
Companies or individuals interested in seeking guidance can contact Nasscom Product Forum on email: soundingboard@nasscom.in 

Other members
Besides Mr Menon, the panel includes Accenture Technology Labs Head Lin Chase, mChek CEO Sanjay Swamy, Jumpstartup Fund Advisors Managing Director Sanjay Anandaram, Verismo Networks Vice President & General Manager (Operations) Abhay Dubey, Compulink Managing Director & Chief Executive Officer Vishwas Mahajan and Airtight Networks Vice President (Engineering) Samir Palnitkar.