Kerala to set up 10 new incubators

Kerala Industries and IT minister PK Kunhalikutty today said the state government had proposed to set up 10 more incubators dedicated to sectors such as agriculture, animal husbandry, dairy, fisheries, electronics and medical electronics.

He also said steps were being taken to expand and transform the start-up village into a multi-nodal innovation, incubation and business eco-system centre.

Inaugurating the 'NextGen Conclave' organised by the Confederation of Indian Industry (CII) at Thrissur, he said the state government had come up with new initiatives during the last three years to inculcate the spirit of innovation and entrepreneurship among the youth.

The launch of the first start-up village in March 2012 acted as a catalyst to create a product start-up ecosystem in the state. "Today, there are about 1,400 product start-ups in the village, the highest for any incubator in the country.

The momentum is in favour of Kerala to emerge as the start-up capital of the country," he said.

VP Nandakumar, managing director and CEO of Manappuram Finance Limited (MFL), said the industrial landscape of Kerala had undergone a sea change as the state has left behind the image of militant labour image.

TR Raghulal, managing director of Elite Group, said the state was sitting on too many opportunities. "In the fast evolving business ecosystem, many institutions under the state government's aegis have sprang that connect firms with finance and capital which will go a long way in spurring the industrial growth," he said.