Startup Mission to ink pact for innovation zone

January 03, 2016 12:00 am | Updated September 22, 2016 09:33 pm IST - KOCHI:

The Kerala Startup Mission (KSUM) will partner with the Union government’s Software Technology Parks India (STPI) and Technology Development Board for realising the Rs.250-crore Kerala Technology Innovation Zone (K-TIZ) at Kalamassery.

The STPI of the Communications and Information Technology Ministry has given approval for setting up a one-lakh-sq-ft building at an estimated cost of Rs.75 lakh. The Hindu has learnt that the KSUM and STPI will soon sign a memorandum of understanding to transfer two acres of land at Kinfra Hitech Park free of cost to the STPI for setting up the space.

“It will be available for companies, which are scaling up, at an affordable price. We have also requested the Technology Development Board to support the K-TIZ and there is an in-principle agreement to extend necessary support for the project,” said P.H. Kurian, Principal Secretary, Department of Information Technology.

The zone now consists of the Startup Village (this space was taken back by the KSUM from January 1) and the Biotech Incubation Centre (now registered as an independent society jointly promoted by the mission and Rajiv Gandhi Centre for Biotechnology).

“The space for setting up an electronics incubator (25, 000 sq ft) in the office plaza will be ready by January end. The incubator is being set up by the Indian Institute of Information Technology Management – Kerala in association with Startup Village and supported by the Department of Electronics and Information Technology,” said Jayasankar Prasad C., Chief Executive Officer, KSUM.

Mr. Prasad said that the initial work for common infrastructure is progressing. The entire project is expected to be complete in two years. The zone will create a total built-up area of about five lakh sq ft. It will act as a venue for international conferences, tech expos and workshops conducted by industrial leaders and players from various sectors, he said.

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