Kerala Budget 2013 sets tone for start-up revolution


Kochi: Through the just presented budget, Kerala has set the tone for the start-up revolution by announcing incentives that are designed to take care of every single component of the start-up eco-system, right from broaching an idea to positioning it as a leader of the pack. IT experts have also hailed the approach of the Government, saying it can set a new model for other States also.

The Kerala Government had announced a slew of sops in the budget for creating a vibrant and complete start-up eco-system, what the seasoned experts describe as a pioneering initiative to usher in a start-up revolution in the country.

“The Kerala government is further boosting the innovation and entrepreneurship ecosystem in the State through this budget. I am sure all these efforts will help us create a few product companies out of Kerala and inspire some spirited youths to become job creators rather than job seekers,” said Infosys co-founder, Kris Gopalakrishnan.

Sanjay Vijayakumar, Chairman of Kochi-based Startup Village, said, “More than the amount of Rs. 75 crore that comes through various schemes for the start-ups, what is promising is the farsighted approach of the government by paying due attention to all required aspects that will turn an idea into a million-dollar company. The Government has woken up to the huge possibilities emerging in the knowledge sector, including IT, telecom and electronic segments, and the budget comes as a major push to youth, innovation and entrepreneurship in the Kerala”.

The electronic Fab Labs, modelled after the Massachusetts Institute of Technology (MIT) and coming up at the Technopark, Trivandrum and Startup Village, will be the real exciting grooming centres for the start-ups, he explained.

“There will be assistance through the Kerala Financial Corporation to finance the pilot projects and patenting the products and Rs. 10 crore is set apart for this. Rs. 5 crore is for setting up technology incubators. In addition, Rs. one lakh awards for innovation groups on social networks, innovation zone worth Rs. 15 crore, electronic hub worth Rs. 20 crore, and Rs. 2 crore for start-up subsidy will clear all possible hurdles for a young student to emerge as a successful entrepreneur,” he added.

Kerala IT News


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