Kerala launches first non-IT focused incubation, mentoring hub

An IT initiative was launched in Kerala Friday which will incubate, mentoring of non-IT entrepreneurs, right from an idea to a sustainable business venture.

The initiative called 'myenterprise', launched by a technical consultancy firm KITCO, will cover areas like agriculture and food processing, fisheries, fashion technology, ayurveda, biotechnology and waste management.

'Myenterprise' was launched here by KITCO managing director Cyriac Davies and associate principal consultant K.C. Chandrashekharan Nair.

KITCO was established in 1972 by Industrial Development Bank of India in association with other national and state level financial institutions, the government of Kerala and seven public sector banks for rendering services to entrepreneurs, government departments/PSUs and local bodies.

'Myenterprise' is open to anyone interested in pursuing their dream of a successful business and KITCO will provide the space, business infrastructure, shared resources and training market access.

"We plan to incubate, mentor and handhold about 10 start-ups in the first year and we have a special focus on encouraging women entrepreneurs," said Davies.

KITCO is also setting up a KITCO Innovation Fund (KIF), a crowd funding initiative, in order to support the emerging start-ups and would be formed with the support of successful Kerala based businessmen, institutions and leading organisations that are interested in innovation and entrepreneurship development in the state.

Nair, who headed the state's first incubator Technopark TBI, will spearhead 'Myenterprise'.

"We intend to provide the youth with seed capital, marketing and professional assistance besides enable the aspirants to meet the experts in the industry and masters of trade," said Nair.