Kerala to seek more central fund to fuel start-ups growth

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Kochi: The Kerala Government will soon formulate a proposal to get funds from the Rs. 10,000 crore corpus allocated in the Union Budget 2014-15 to support start-ups and submit it to the central government.

An official of the Industries and IT Department said this while participating in a discussion on ‘How the budget allocation can be utilised for fuelling the growth of the startup ecosystem in Kerala’ at the Startup Village in Kochi. The Government has started discussions in this regard and a comprehensive plan will be drafted to get sufficient funds from the Centre to fuel the growth of the startup ecosystem in the State.

The government will soon provide 100 start-up boxes to the young entrepreneurs in the State. The new building coming up in Startup Village, with a built up space of two lakh sq. ft., will be completed soon and this will give a boost for another 1,000 young entrepreneurs working from it.

Infosys Co-founder & Startup Village Chief Mentor, Kris Gopalakrishnan said the Startup Village at Kalamassery was a unique model in the world and it provided the right ambience for youngsters to grow which was not the case some decades ago. “Today, there is technology and government to help youngsters who are willing to start a business. One only needs to put in their imagination to make the business successful.”

Extending all support to Startup Village, Choice Group Founder, Jose Thomas said that the incubator had evolved as a role model for other states to follow. “Kerala is now on the right path as far as entrepreneurship development is concerned.” Impressed by the performance of the country’s first PPP model incubator, he has granted Rs. 25 lakh to Startup Village and handed the cheque to Startup Village Chairman, Sanjay Vijayakumar on the occasion.

Bringing in his two decades of experience from Silicon Valley, Envestnet Group President, Babu Sivadasan said, “For a venture to be successful, startups must focus on products, employees and clients and not just money.” He also lauded Startup Village for its vibrant environment and the opportunities it was providing to youngsters and for bridging the gap between Silicon Valley and Kerala.

Kerala IT News

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