The State of Kerala in India appears to have taken it upon itself to provide the much-needed financial support to fledgling start-ups. The State Government has announced a separate fund of Rs. 500 Crores (US$ 81 Million) per Year, to improve the Start-up Ecosystem in the state and to offer Angel Funding to entrepreneurs.
Chief Minister Oommen Chandy made the official announcement during The Indus Entrepreneurs‘(TIE) Kerala chapter conference. Interestingly, the evidently progressive state had approved similar amount earlier this year to fund start-ups. However, those funds were to be distributed only to those start-ups who were working in agriculture, tourism and entertainment sectors.
Kerala has a special designated zone in the Kochi region, unofficially christened as the Startup Village. It is perhaps the only other place on earth, besides Kansas City in USA to boast of an ultra-high speed Broadband, where speeds can reach 1 Gbps! Hence companies have been attracted towards such a favorable atmosphere to start their enterprises.
This has further attested the efforts by the Kerala Government to try and further enhance the support to these companies that directly attract regional talent and help bring up the local economy and boost job opportunities.
Free Raspberry Pi: P H Kurian, Principal Secretary, Industries and IT Department, suggested that the government also plans to distribute 10,000 Raspberry Pi to school students. Additionally, Kerala government also plans to set up 21 Fabrication Labs in Technopark at Thiruvanantapuram and a Technology Innovation Zone at Kalamassery. Developing a technical inclination and a spirit of tinkering with technology at a young age is vital to orient and later propel today’s students into becoming tomorrow’s Tecnocrats.
Kerala has always been a leader regarding adoption of Technology. The state boasts many firsts, including adoption of Aadhaar and eBanking. With such initiatives, it won’t be a surprise if tech companies start favoring Kerala against Bengaluru. What do you think?
Image Source | rediff