The government has unveiled plans for 200 start-up companies to be established in the State this year.
Industries Minister A.C.Moideen told a press conference here on Thursday that moves were afoot to promote start-ups by student entrepreneurs and the youth. The focus would be on diversifying into new sectors beyond Information Technology.
The Minister said the Kerala State Industrial Development Corporation (KSIDC) had identified the need to encourage young entrepreneurs for the growth of the Kerala economy. He said 85% of the 110 start-ups in the State had been successful ventures. An amount of ₹12 crore had been disbursed as seed fund and ₹20 crore spent on improving infrastructural facilities for the fledgling companies.
Mr.Noorudin said agriculture, biotechnology, electronics and health were potential sectors for entrepreneurs to set up start-up companies in Kerala.
Managing Director, KSIDC, M.Beena said the three business incubation centres located at Infopark, Kochi, Inkel Tower, Angamaly and Cyberpark, Kozhikode, were equipped to provide support for young entrepreneurs in their effort to convert innovative ideas into commercially viable products.
As part of the State-sponsored initiative to promote start-ups, the KSIDC is organising the third edition of the Young Entrepreneurship Summit (YES- 2017) at Le Meridien, Kochi, on September 12. The summit would be based on the theme Disrupt, Discover and Develop (3D).
Chief Minister Pinarayi Vijayan is scheduled to inaugurate the event. Union Telecom Secretary Aruna Sundararajan will deliver the keynote address. The discussions will explore the potential for start ups in various sectors including agriculture and food processing, biotechnology, biomedical and future technologies.
Captains of industry, venture capitalists and representatives of successful start up companies from other states are expected to participate in the deliberations. A highlight of the summit is an exhibition of innovative products developed by entrepreneurs including coconut plucking drones and robotic arms.
