Kerala Government to give boost to startups

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Young entrepreneurs and startups will have more opportunities courtesy the government. The Government will unveil the Startup and Innovation Policy next week containing a plan to purchase mobile and e-governance applications from them.

Kerala’s IT Principal Secretary P.H. Kurien told reporters that the new policy would also contain a plan of the Government providing matching investment to that of entrepreneurs in startups.

“The new policy will give a boost to startups, ending the supremacy of big firms in Government purchases. The Swiss Challenge method will be used to finalise such purchases”, Kurien said after inaugurating the Technology Business Centre (TBC) of Infopark at Jawaharlal Nehru International Stadium, Kaloor in Kochi.

Kurien stated that the new policy could see some 3,000 companies getting incubated and setting shop in the State by 2020. The Government, he added, was also preparing a list of mentors for the startups.

“There are already several instances of angel investors coming to the aid of startups in Kerala,” he said. The IT business in the State was now worth USD 1.2 billion including USD 1 billion worth of software exports, Kurien noted.

About 20,000 sqft of the proposed five lakh sqft Innovation Zone at Kalamassery was ready and would be opened to the Startup Village on October 20. The new TBC facility of Infopark at Kaloor was meant for small companies under incubation with three to four staff members.

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