erala State Industrial Development Corporation (KSIDC) has tied up with Indian Software Product Industry Roundtable and India Private Equity and Venture Capital Association to provide mentoring and financial linkages to start-ups in the State.
Managing director of KSIDC M. Beena told reporters here on Tuesday that there were 750 start-ups in the government domain and an even larger number in the private sector.
This implies that there was a ‘start-up climate’ in the State, she said.
New areas
Though most of the start-ups were in the information technology related areas, there were also many which leverage new technology for better products and services, she said.
She was speaking at a press conference convened to announce the second edition of young entrepreneurship summit YES CAN 2015 (Young Entrepreneur Summit - Collaborating and Networking) being held in the city on September 12.
Chief Minister Oommen Chandy is scheduled to inaugurate the summit at 10 a.m. on the day at Hotel Crown Plaza
KSIDC expects around 1,100 entrepreneurs to register for the summit, which will see interactive sessions among various stakeholders.
Considering the burgeoning number of start-ups in the State, it is logical that the entrepreneurs are given financial and mentoring linkages through agencies like ISPIRT and IVCA.
Kerala’s potential for start-ups enterprises had been recognised by venture capital and angel funds, said Dr. Beena, who pointed out that the two agencies lined up to help the new entrepreneurs were keen to join hands with ventures in Kerala.
Cash awards
An innovative idea contest has been launched and 10 innovative ideas will get cash awards.
The best idea will be awarded Rs. 1 lakh; the first and the second runner-ups would get Rs.50,000 and Rs.30,000 respectively. The seven others will be awarded Rs. 25,000 each.
There were 750 start-ups in the government domain and more in the private sector, according to Managing director of KSIDC,
M. Beena
