TechSparks™, India's biggest product tech startup showcase, will employ an independent assessment tool called G/SCORE™ from the US-based Guidewire Group, Inc., a global market intelligence and advisory firm, to select 20 product technology start-ups from the vast number of registrations that the event receives.TechSparks 2011, a pan-India hunt for the best product technology startups, is organised by YourStory, India's leading online platform for entrepreneurs, in association with CNBC TV18 Young Turks and Sequoia Capital. The initiative is designed to recognize and celebrate high-potential product tech ventures. Last year, TechSparks received applications from more than 208 product technology startups across the country and the top 20 startups were showcased in a grand finale in Bangalore. This year, TechSparks has grown into a multi-city series, with events to be held in Chennai, Cochin, Mumbai and New Delhi.
The G/SCORE is a standardized method to assess a startup as it grows from initial concept to scalable enterprise. Developed by Guidewire Group and backed by the United States National Science Foundation, the G/SCORE is the most comprehensive tool for understanding the state and growth of innovation around the world.. G/SCORE has been used to evaluate hundreds of firms across the globe and effectively measures the progress and performance of a startup in seven critical areas: overall concept, market opportunity, competitive risk, product development, business development, team, and business model. The G/SCORE, on a scale of 28 points, give potential investors, partners and customers a way to compare startups across segments, stages and regions.
"The tool is frequently used by angel investors, economic development agencies, incubators, potential partners and acquirers," said Chris Shipley, CEO of, Guidewire Group. "The evaluation is execution-based. It doesn't assess if the start-up will become the next Google. G/SCORE was brought to India for the first time by YourStory for TechSparks in 2010.
Speaking about the continuing association, Shradha Sharma, founder, YourStory, said, "We're delighted to use G/SCORE again for TechSparks 2011. The participating startups saw tremendous value in the metrics and mentoring that the Guidewire Group team brought in, during the last edition of TechSparks and since YourStory is all about promoting entrepreneurship in fair, transparent and scientific manner, we're using G/SCORE this time around as well. With the quantum of entries predicted to double for this year's TechSparks, we're only too glad to partner with Guidewire Group again."
Entries are already being accepted for TechSparks 2011. Startups registering for TechSparks will also receive invites to the by-invitation-only TechSparks Regional RoundTables (RRTs), a city-centric mini-event designed for startups to network with VCs and corporates. The RRTs will be conducted in Chennai, Cochin, Mumbai and New Delhi during the months of May, June and July 2011. The grand finale, featuring the top 20 tech startups among all the entries received, is scheduled for August 2011. Apart from national recognition, substantive networking opportunities and access to investors for all the TechSparks finalists, one winning TechSparks startup will also win a place on the Innovate!100 list of the World’s Most Promising Startups and an invitation to participate in Guidewire Group’s Connections Program.So, it looks like exciting times are here for product tech startups. To see the spotlight being turned on the best product tech startups in the country, register for TechSparks by clicking here.