Milestone total investment of Rs 6,000 crore; 'Startup' Kerala policy is thriving

THIRUVANANTHAPURAM: Kerala, the first state to implement a startup policy in the country, reached a milestone total investment of Rs 6,000 crore. This achievement is in addition to the Best Performer award for 2022 in the startup rankings. Kerala has become one of the maker communities with two fab labs and 23 mini fab labs, including India's first super fab lab of MIT's research institute, the Centre for Bits and Atoms, in the US.

More than 557 Innovation and Entrepreneurship Development Centres (IEDCs) are also operating in higher education institutions. The seventh edition of the Huddle Global Summit, which aims to make Kerala a global hub for new technologies and jobs, will begin in Kovalam on Friday.

Startup boom in the state

• 300 in 2016

• 7,600 in 2025

• Employment opportunities - 76,000

• Kerala Startup Mission Grants and Loans provided as assistance - Rs 51.39 crore

As part of its efforts to make Kerala a hub for new technology, the Kerala Startup Mission has begun work to build a world-class emerging technology hub in Technocity, Thiruvananthapuram, covering an area of ​​5 lakh square feet. It will operate as a public-private partnership company.

“Kerala has made great strides in the startup sector in the last ten years. New startups have emerged in various sectors like food processing, electronics, banking and many more. Kerala has also created a conducive environment for startups to grow. The state now ranks as an important destination in Asia. Huddle Global will help strengthen the startup sector further,” said Minister P Rajeev.