Kerala: The Next AI Hub of Deep Tech Startup Ecosystem
- One of our core philosophies is focusing on revenue generation over attracting external investments.
- Government order will help startups to work closely with government and come up with innovative solutions which are useful for the departments.
The Kerala startup ecosystem has now taken off all its terms with respect to the latest developments and incubations across the entire state. With the Kerala Startup Mission which plays a vital role in identifying the young talent and helps to nurture the entrepreneurial dreams, the startup ecosystem has also received a major impetus with the Kochi an emerging as a hub for the deep tech startups and companies.
One of the basic goals for its success in developing and building a growing startup ecosystem is due to the interlinking of the incubators, colleges, government institutes, and startups. By helping to focus more on the developing entrepreneurial skills at the grassroots level and simply fostering a culture in schools and colleges. Apart from just, mentoring with the various innovations and entrepreneurship development cell in the colleges, the state government has successfully brought up with all the stakeholders in just under one roof.
This was done with some of the special measures to extract and get the external investment for scaling up the ventures quickly.
“One of our core philosophies is focusing on revenue generation over attracting external investments, and this is done by encouraging startups in our network to address the problems that have blue ocean opportunity,” M Sivasankaran, Secretary, Electronics and Information Technology of the state said in the recently brought out Kerala Startup Ecosystem Report 2018
According to the report which has been revealed, the institutional funding for the startup-ups in the state was $10 Million in the year 2015; this was also increased to $20 Million in 2015. From the year 2016, the fund flow was $16 Million from the first half.
Speaking on the matter, Saji Gopinath, Chief Executive Officer, Kerala Startup Mission said “The $6865 ceiling seems to be a challenge in enhancing the scope of innovative products in government departments, this government order will help startups to work closely with government and come up with innovative solutions which are useful for the departments. The recent floods also proved the startups’ capability of supporting the government in disaster management.”