The State aims to have 15,000 startups that will generate two-lakh jobs in emerging technologies in five years, Chief Minister Pinarayi Vijayan has said.
He was inaugurating the third edition of the two-day Huddle Global 2022 conclave of startup entrepreneurs, organised by the Kerala Startup Mission (KSUM), on Saturday. Mr. Vijayan said the government would establish an emerging technology startup hub in Thiruvananthapuram on the lines of the Kerala Technology Innovation Zone in Kochi.
He stressed on the State’s commitment in providing the ideal ecosystem for startups that were widely perceived to drive the country’s economy. He pointed out that startups in Kerala have raised ₹3,200 crore as equity investments since 2015. The number of startups had also risen from 300 in 2016 to 3,900 in 2021.
“Given that India is the world’s third-largest startup ecosystem with more than 55,000 startups, the government is aware of the significance of each State’s contribution to the overall development of this national startup ecosystem. Startup India ranking places Kerala as one of the top Indian States for startup environment,” he pointed out.
He also emphasised the need for creating a knowledge chain by interconnecting startups and IT parks with technical institutions.
The Chief Minister also opened the State’s first Fintech Accelerator and Finishing School on the occasion. The endeavour is an initiative of Kochi-based Open Financial Technologies in collaboration with the KSUM to support startups coming up with fintech solutions. Open will be investing ₹200 crore during the next five years towards the venture. The fintech accelerator will launch its first cohort of startups from March 1.
Industries Minister P. Rajeeve, who presided, said the State had built a unique model to nurture startups right from the ideation to the scale-up stage.
In his video message, Lord Mayor of London Alderman Vincent Keaveny said India was on its way to becoming Asia’s top fintech hub just as the United Kingdom is Europe’s top fintech hub. He said that Kerala was scaling new heights in technology by becoming a stable model ecosystem for startups.
