India's first PPP model technology business incubator Startup Village today welcomed the proposals in the Kerala budget, saying the government's decision to support young entrepreneurs will redefine the state's entrepreneurial culture and investment climate.
Infosys co-founder Kris Gopalakrishnan, who is also Chief Mentor of Startup Village, said the proposals in the Kerala Budget 2015 are commendable in terms of the support measures announced for start-ups and student entrepreneurs in the state.
"This will undoubtedly encourage more and more young people to start new ventures at home rather than finding well-paid jobs outside the state," Gopalakrishnan said.
He lauded the proposal to set aside Rs five crore for supporting student entrepreneurs availing bank loans.
Startup Village Chairman Sanjay Vijayakumar said the state government's proposals to set aside Rs 25 crore for the Comprehensive Mission on Employment Generation Activities (MEGA) and the Rs 12 crore allocation to provide financial support to 1,000 startups for two years will result in an entrepreneurship boom in the state.
"The challenges rising from the tremendous growth in number of applications at Kerala's leading incubators, the Technopark TBI and Startup Village, have been addressed in the new budget," Vijayakumar said.
"The state government has opened a world of opportunities to the students through its proposal to allocate Rs 11 crore for setting up Incubation Support Centres in universities," he said.
"The total outlay for entrepreneurship development is now around Rs 200 crore, up from Rs 43 crore last year," he added.
He also noted "the Rs 10 crore set aside as Infrastructure Gap will invite more private sector investment into this area".
