KSIDC launched Rs 10 crore seed fund for start-ups

Our Bureau

The Kerala State Industrial Development Corporation (KSIDC) intorduces a seed fund for new start-ups in the state during the recently concluded YES 2014 summit. Earlier named as Angel Fund, KSIDC has created a Rs 10 crore financial assistance to support innovative start-ups. The fund will be allocated to any innovative projects not only in IT sector but in bio-technology, agriculture, food processing, business innovation, green technology and so on. The maximum seed capital for each start-up will be Rs 25 lakh.

Young Entrepreneurs Summit (YES) is a flagship event to establish Kerala as a vibrant entrepreneurial state. The summit, organised by Kerala State Industrial Development Corporation (KSIDC) was held on September 12, 2014. YES Kerala 2014 witnessed a gathering of over 3000 young entrepreneurs.

YES is one of the navaratna programmes taken under the Government of Kerala's Mission 676 programme. It was aimed at fostering the growth of entrepreneurship in young minds and at creating an enabling environment for start-ups highlights in the state across all sectors. YES showcased the existing facilities and support services available to prospective young entrepreneurs to realise their business dreams.

It was a key evangelization initiative meant to aware the youth on the entrepreneurial possibilities and the investment avenues opportunities available in Kerala for them. The summit emphasised the combined initiatives of agencies like KSIDC, KFC, TBI, Technopark, Infopark, and KINFRA in creating a holistic ecosystem conducive for young entrepreneurs. YES serves as a platform for young innovators to share their innovative ideas.

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