The Startup ecosystem at the Kerala University has begun to gain momentum with the formulation of its first-ever startup policy a month ago.With nearly 80 enterprises finding their feet under the Kerala University Business Innovation and Incubation Centre (KUBIIC), the university has focused its efforts on tapping external funding sources to maximise its potential in fostering the entrepreneurship ecosystem. Though it had been established back in 2006, it was not until a few years ago that KUBIIC invigorated its efforts to promote startups. Ever since, the centre has been supporting product-based innovations in various avenues including health care, waste management and biotechnology.
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The introduction of a comprehensive startup policy that derives its guidelines from both National Innovation and Startup Policy and Kerala Technology Startup Policy has provided impetus to the ongoing activities.
The university’s startup policy, which was drafted by a panel that comprised academic and industry experts, has proposed converting KUBIIC into a Section 8 (non-profit) company. By positioning the centre as a separate legal entity, the policy makers hope to maximise its potential and prevent its operations from being confined within the legal framework of the university, KUBIIC Director Manoj Changath pointed out.
Currently, 79 startups of which four have registered as companies are currently backed by the university. Among these, 13 entities had been floated in its affiliated colleges in various districts.
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Dr. Changath said a majority of startups have focused on innovations in life sciences areas including biotechnology, botany and zoology. Most endeavours have been focused on product development from the well-equipped laboratories in various departments at the Karyavattom campus. Entrepreneurs who are mostly university alumni are also being mentored by the domain experts there, he added.
₹43.5 lakh earmarked
While the university recently earmarked ₹43.5 lakh for infrastructure development, KUBIIC has set its sights on obtaining a grant of ₹125-crore from the Department of Science and Technology through its Sophisticated Analytical and Technical Help Institutes (SATHI) scheme.