Kerala has come a long way with regard to its start-up ecosystem but still needs to improve the conversion rate, observed V.K. Mathews, founder and executive chairman of technology major IBS Software.
He was speaking to The Hindu on Wednesday on the sidelines of a function kick-starting the silver jubilee celebrations of the company. IBS is the largest unicorn in Kerala, valued at $1.5-2.0 billion (2021 report by Credit Suisse).
Mr. Mathews said that while the change in social psyche, government support, and infrastructure have helped create start-ups, not many of them have made it big.
