The Kerala government, which is celebrating 1,000 days in power, has said that 453 new start-ups have begun operations in the technology field in the state during this period and around 35,000 jobs have been generated in the sector. Start-up projects in the state have attracted investments worth Rs 314 crore so far, the government said.
The state added 3,23,262 sq ft floor space for start-ups in 1,000 days and 63 start-ups have received international attention, said Chief Minister Pinarayi Vijayan. "Kerala is redrawing the start-up landscape. A brief description of the developments in the sector in the state during the 1,000-day period includes setting up of the country's largest integrated start-up complex, incubators to study segments like cancer, space, Bandi Coot for cleaning the manholes, a humanoid robot at the police headquarters, among others," he added.
He said start-ups by experienced professionals were specially encouraged and the government has taken steps to bring in Sebi-approved national funds for venture funding of the start-ups. The state has also offered support to 31 incubators. These projects have made Kerala one of the top ranked domains in the Start Up Ranking by the Central Government, Vijayan claimed.
Set up by Kerala Startup Mission (KSUM), the sprawling Integrated Startup Complex launched in January, is the largest of its kind in the world, spread over 180,000 sq ft in Technology Innovation Zone (TIZ). It will house various incubation centres, the country's first international accelerator for hardware start-ups, an incubator dedicated for developing solutions for cancer diagnosis care; and a Centre of Excellence set up by industry majors like Unity and Cera.
Spread over 13.5 acres, KSUM’s TIZ will provide quality infrastructure for the development and growth of startups. Once fully developed into a full-fledged campus with over half a million sq ft of built up area, TIZ would become the largest Work-Live-Play space exclusively dedicated to start-ups in the country, it is said. Over 100 new enterprises in various stages of growth are already operating in the three incubators functioning within the facility.
The government also launched a Malabar Innovation and Entrepreneurship Zone in Kannur, on 25,000 sq ft to attract more IT-based start-ups in that region. The incubator can hand-hold start-ups during the first two years of their formation and will support easy stakeholder networking and need-felt innovations.
Kerala start-ups have received funding of $38 million in 2017-18, according to the Kerala Startup Ecosystem Report 2018. The report, released in November, 2018, stated that the institutional funding, which stood at $9.5 million in 2014, was increased to $19.6 million in 2015. Since 2016, there has been a steady increase in the fund flow that came to $15.72 million from the first six months.