Spurred by the Union Budget proposal to create a Rs.10,000-crore fund to help start-up companies, the State government has taken its promotion of start-ups to the next level by launching a mission aimed at bringing on board successful State-based industries to support young entrepreneurs.
Kerala IT in association with Technopark-Technology Business Incubator (T-TBI) and Startup Village organised a brainstorming session involving a State government delegation led by Chief Minister Oommen Chandy and industry leaders in this regard on Friday.
Industries and IT Minister P.K. Kunhalikutty, Kerala State Industrial Development Corporation (KSIDC) managing director Aruna Sundararajan and Industries and IT Principal Secretary P.H. Kurian were also present.
About 78 successful entrepreneurs from leading business houses in Kerala participated in the session which served as a launching pad for the mission to chalk out a detailed strategy to make the State the best destination for nurturing young entrepreneurs.
“The time has come for us to act and we are in a transformation mode. The student entrepreneurship policy of the government has started showing results and there has been great vigour and enthusiasm among youngsters to become entrepreneurs,” Mr. Chandy said.
Mr. Kunhalikutty said the State should be able to tap the potential of youngsters with the help of business leaders. “We are supporting young innovators. We would like to see innovations taking place in traditional industries also,” he said.
Ms. Sundararajan said a proposal for starting 50-odd incubators across the State for supporting business and technology start-ups was under consideration.
“KSIDC will launch a venture capital fund of Rs. 20 crore in the coming Young Entrepreneurs Summit for supporting the start-ups,” she added.
