Govt launches mission to rope in business leaders for supporting startups

TechnoparkToday.com(July, 2014): Close on the heels of Union Budget announcing a Rs-10,000-crore fund to attract private capital for start-up companies, the Kerala Government has launched a mission to bring successful state-based industries onboard to create a conducive ecosystem for supporting young entrepreneurs.

Chief Minister Shri Oommen Chandy, State Industries and IT Minister P K Kunhalikutty, Kerala State Industrial Development Corporation (KSIDC) Managing Director Aruna Sundararajan and Industries and IT Principal Secretary P H Kurian held a discussion with the industry leaders in this regard at an interactive session organized by Kerala IT in association with Technopark-Technology Business Incubator (TBI) and Startup Village here on Friday night.

As many as 78 successful entrepreneurs from leading business houses in Kerala participated in the session which was a launching pad for the mission that would chalk out a detailed strategy to make the state a best destination for nurturing young entrepreneurs. “Time has arrived for us to act and we are in a transformation mode,” Shri Oommen Chandy said addressing the session. “The student entrepreneurship policy of the government has started showing results and there has been great vigour and enthusiasm among youngsters to become entrepreneurs,” he said.

Calling for the support of industries in Kerala to encourage these youngsters, the Chief Minister said the government was committed to extend all help to startups and the expertise of the established entrepreneurs was a pre-requisite for it.”

Shri Kunhalikkutty said the state should be able to tap the potential of the youngsters only with the help of business leaders. The industry should join hands with the government to shape the future entrepreneurs. “We are supporting young innovators. We would like to see innovations taking place in traditional industries also. We need your expertise, direction and guidance to support the youngsters,” the Minister said.

Smt Sundararajan said the state should transform into a place of job creators and not job-seekers. “We are starting 50-odd incubators across the state for supporting business and technology startups,” she noted. “We are working closely with CII and TiE for providing mentoring to young innovators. Also, the KSIDC will launch a venture capital fund of Rs 20 crore in the coming Young Entrepreneurs Summit for supporting the startups”, she added.

Shri  P  H  Kurian said the works on the Rs 150 crore-Technology Innovation Zone  project by T-TBI at Kalamassery here was progressing well and once completed, it will transform the place as Silicon Valley of India. “The works will be completed in two to three years and the new building will be able to accommodate 1000 startups. An entrepreneurship culture is gaining momentum among youngsters in the state which is doing all necessary measures to promote a startup revolution,” he added.

Federal Bank MD & CEO Shri Shyam Srinivasan, representing CII Kerala and AVG Group of Companies Chairman Shri A V George, representing TiE Kerala, also spoke on the occasion.