15K startups, 2 lakh jobs in 5 years: Kerala sets ambitious roadmap for emerging technologies

Kerala lines up emerging technologies startup hub in state capital

Emerging technologies is an arena the Kerala government will train its focus on in the next five-year period, and the goal will be to have over 15,000 startups and 200,000 jobs in the domain during the period.

The state government also has plans to set up an emerging technologies startup hub in Thiruvananthapuram, the state capital, on the lines of the facility existing in Kochi, considering the vital role of the startups in the emerging scenario.

According to Chief Minister Pinarayi Vijayan, “startups being the future of the country, Kerala is committed to providing the right ecosystem. Our startups have raised Rs 3,200 crore as equity investments since 2015. Along with startup infrastructure in the Technology Innovation Zone Kochi, the government is considering a similar campus at Thiruvananthapuram, focusing on emerging technologies”.

Speaking at ‘Huddle Global 2022’, which offered startups a platform to showcase products and interact with technology and industry leaders, besides providing them the scope to explore ways on moving ahead in the world emerging from Covid-19, he said that India being the world’s third-largest startup ecosystem with more than 55,000 startups, the state government is aware of the significance of each state’s contribution to the overall development of this national startup ecosystem.

Emerging technologies, a priority area

Kerala has also kickstarted the state’s first Fintech Accelerator and Finishing School on the sidelines of the two-day big-ticket conclave that brings together global leaders from the startup ecosystem to strengthen networking and forging partnerships.

Pointing out that the Startup India ranking places Kerala as one of the top Indian states for startup environment,” the Chief Minister said, the approach adopted from schools, colleges and to the professional ecosystem has created innovative startups in the state. Various government initiatives such as IEDC (Innovation and Entrepreneurship Development Centers, for colleges), YIP (Young Innovators Programme), programmes for incubation and acceleration, corporate innovation, besides Center of Excellences, infrastructure facilities, government as a marketplace scheme, innovation grants, Fund-of-Fund and International Exposure programmes have made Kerala the best place to start and grow enterprises.

Series of technology-based summits lined up

Taking forward the efforts at nurturing the startup ecosystem, the Kerala Startup Mission (KSUM) will be joining hands with Kerala IT Parks to organize a series of technology- based summits in the state.

The plan aims at inspiring more technology startups and the allied community to come up with innovative ideas and solutions in emerging technology areas. KSUM Chief Executive Officer John M Thomas said the move was made knowing well the increasing importance of technology summits. “This will be an encouragement for more startups and the technology community to crop up with their novel ideas and solutions in emerging technologies,” said Thomas, who is also the CEO of Kerala IT Parks. The tie-up is expected to bridge the gap between problem-centric solutions and cutting-edge technologies.

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