Over 15,000 startups, 2,00,000 jobs in new tech in Kerala within next 5 years: CM Pinarayi Vijayan


Kerala Chief Minister Pinarayi Vijayan stated on Saturday that the state government has set a goal of having over 15,000 startups and 2,00,000 jobs in new technologies in five years.

He was addressing the third edition of the Kerala Startup Mission’s ‘Huddle Global 2022.’ (KSUM)

On the sidelines of the two-day big-ticket summit that brings together global leaders from the startup ecosystem to improve networking and forge alliances, the chief minister also opened the first Fintech Accelerator and Finishing School in the state.

Aim to create tech startup hub

According to Vijayan, the state government aims to establish an emerging technology startup hub in the state capital, similar to the one in Kochi.

‚ÄúStartups being the future of the country, Kerala is committed to providing the right eco system. Our startups have raised Rs 3,200 crore as equity investments since 2015,” he said, as per PTI.

He said the government is planning a similar campus in Thiruvananthapuram to focus on new technologies, in addition to the startup infrastructure in Kochi’s Technology Innovation Zone.

Why Kerala is ripe for a great startup environment

Given that India has one of the world’s largest startup eco systems, with over 55,000 startups, the government recognises the importance of each state’s contribution to the national startup eco system’s overall development.

According to Vijayan, Kerala is one of the top Indian states for startup environments in the Startup India rating.

Various government initiatives, he said, such as IEDC (Innovation and Entrepreneurship Development Centres for colleges), YIP (Young Innovators Programme), programmes for incubation and acceleration, corporate innovation, and so on, have made Kerala the best place to start and grow businesses.

About Huddle Global 2022

Huddle Global 2022 provides a venue for entrepreneurs to demonstrate their products and meet with technology/industry leaders, as well as the opportunity to explore methods to move forward in the world emerging after Covid-

Kerala Minister for Industries, Law, and Coir P Rajeev said in his presidential address at the meet that the state has developed a unique methodology for nurturing entrepreneurs from concept to scale-up.

KSUM is committed to supporting global entrepreneurship in order to grow the startup community in Kansas and across the United States.

Huddle Global’s mission is to “create an environment where passion meets purpose” in order to “learn, network, bridge the gap between business, uncover potential, and see actual results,” he said.

Alderman Vincent Keaveny, Mayor of London and partner at DLA Piper, said in a video message that India is on its path to becoming Asia’s top financial centre, just as the UK is Europe’s top fintech hub.

Kerala is hitting new heights in technology, according to Keaveny, by becoming a robust model eco system for startups.

About the Open Fintech Accelerator

The Fintech Accelerator and Finishing School is a collaboration between Kochi-based Open Financial Technologies and KSUM to help businesses develop fintech solutions.

As part of the centre of excellence (CoE) and Fintech Accelerator, Open Financial would invest Rs 200 crore over the next five years.

The inaugural cohort of the Open Fintech Accelerator will begin on March 1.

KSUM has inked MoUs with Google for Startups, Habitat, Jetro, Global Accelerator Network, I Hub Gujarat, NASSCOM, and CSL, among others, on the first day of the event.

The event focuses on business, funding, and collaboration opportunities for startups amid a persistent fight against the pandemic-induced impasse. It is one of Asia’s largest startup ecosystem gatherings and India’s largest networking platform for entrepreneurs.

The event includes a startup expo with both global and Kerala-based firms, as well as keynote presentations, leadership talks, tech talks, startup demos, and other business-oriented activities. There are also pitch sessions and one-on-one mentorship sessions.

The event will take place on a platform designed by KSUM to hold over 2,000 people. Kerala IT Parks is also participating in the conference with KSUM.

(With inputs from PTI)

Read: 1000 student-led startups chosen for Delhi govt Business Blaster programme

Read: 5 incubation centres to give your startup a kickstart



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