Startup ecosystem seen bolstering future investments in Kerala
KSUM initiative to attract high profile investors by showcasing the opportunities in Kerala’s startup ecosystem
The startup ecosystem in Kerala has positioned itself as a major catalyst in bolstering future investments in the state. Kerala will now look at developing an investment culture by creating awareness among the high networth individuals (HNIs) about the potential of the ecosystem.
Kerala’s Finance Minister K N Balagopal, who inaugurated the seventh edition of Seeding Kerala, the Kerala Startup Mission’s (KSUM) flagship initiative to attract high profile investors to the state by showcasing the opportunities in startups, said that Kerala now has a lot of HNIs and there are several new areas which need investment. A campaign to create awareness among HNIs is needed. The two-day summit in hybrid format is hosted by KSUM, the state’s nodal agency for startups.
Acknowledging the practical issues faced by the startups in raising funds from state agencies like Kerala Finance Corporation (KFC), Balagopal said the government is working on these concerns.
Startup ecosystem in Kerala now mature
Infosys co-founder Kris Gopalakrishnan, who attended the event online, said the startup ecosystem in the state has become more mature and is attracting more and more capital not just from Kerala but outside too. “Every ecosystem will require creation of a local support system. Kerala, I strongly believe, has created that support system in terms of physical infrastructure, not just in one location but multiple locations like Thiruvananthapuram, Kochi, Kozhikode and Kannur,” he said. The state has also created a talent infrastructure, besides providing mentoring support to startups, he said.
Future looking bright, says Kris Gopalakrishnan
According to him, more successes are now showing up, and more examples and exemplars and icons which will show the way are visible. This has brought to the fore Kerala’s sustainable model ecosystem for startups and the future is looking bright.
The invite-only summit held in physical and virtual mode has interactions between 150 select participants, 100 HNIs, representatives of 10 top funds, 14 Angel Networks, 30 corporate houses and family offices besides 30 selected startup founders. The summit is one of the many initiatives undertaken by KSUM in its quest to create a vibrant startup ecosystem in the state to foster the growth of innovation-led technology entrepreneurship.