Kerala Chief Minister Oommen Chandy has said that the Kerala government would set up a seed support scheme for early stage investments to help new entrepreneurs and strengthen the state\'s objective under the new IT policy.
Kerala Chief Minister Oommen Chandy has said that the Kerala government would set up a seed support scheme for early stage investments to help new entrepreneurs and strengthen the state's objective under the new IT policy.
He said that this would help nurture one product start-up a day, with the target of at least 3,000 companies by 2020. The minister was addressing a gathering via video link at the Weekend@Startup Village celebrations in Kochi.
Chandy also announced setting up of a state-of-the-art Kerala Technology Innovation Zone at Kinfra Hi-Tech park where India's first telecom business incubator, Startup Village, is currently located.
The new hub will have a built up space of 500,000 sq ft with all facilities required for a world class innovation ecosystem and will nurture startup companies across a number of sectors, including IT and biotechnology.
The government's flagship Student Entrepreneurship Policy giving 20 per cent attendance allowance and five per cent grace marks for student entrepreneurs has taken effect in the Cochin University of Science And Technology and Kerala University and similar regulations will be introduced by other universities within a month, said Chandy.
“We don't want our students to aim for a job or a visa after they complete education. We want them to become job creators and transform our economy that way. The government will provide every possible support for any entrepreneurial venture that has potential.”
Government has also allocated Rs 15 lakh for Startup Village's flagship programme SVSquare to “build a bridge between Kochi and California”, enabling young aspiring businessmen and women to experience first-hand the renowned entrepreneurial culture of the global technology capital at Silicon Valley.
Winners of the 'Startup Village to Silicon Valley' programme will leave for the US in September.
P K Kunhalikutty, Minister for Industries and IT, Kerala said no Startup Village with a potentially great and innovative idea would have to suffer for funding.
Kunhalikutty announced that Startup Village, currently facing a space crunch, would be provided workspace and hostel facilities at the Kerala Institute for Entrepreneurship Development in Kalamassery till their own building is ready.
He also officially renamed the central avenue in Startup Village as 'Rajeev Motwani Street' in honour of the late Stanford University Professor who achieved legendary status in the field of computer science for his pioneering work.