Startup India Plans New Seed Funds, Incubators at Kerala Event

The Union government is making a concrete effort to increase seed funding and open more incubation centres to help India's developing startup ecosystem, Startup India Head Mamatha Venkatesh said on Friday at the Kerala Innovation Festival (KIF) in Kochi.

Addressing the launch of the event, jointly organized by Kerala Startup Mission (KSUM) at the Digital Hub in Kalamassery, Venkatesh added that the Centre's initiative exceeds current allocations made by the Ministry of IT. She pointed out that even startups cutting across sectors can avail support from other government departments as well.

Terming Kerala's startup ecosystem as the "most vibrant" in India, she appreciated the state for completing 100% registration under the Startup India programme. Venkatesh encouraged entrepreneurs to avail themselves of the Government e-Marketplace (GeM), the Rs. 1 lakh crore Fund of Funds, and the Credit Guarantee Scheme. She also praised the fact that 48% of Indian startups are started or co-started by women.

Also Read: Top 10 Pharma Equipment for Efficient Production in India

State Planning Board member Mini Sukumaran expressed concerns regarding the poor representation of women in the job market, even as the number of women students in higher education was on the rise. She reported that the government is putting in place measures to tackle this and enhance the efficacy of the gender budget.

KSUM CEO Anoop Ambika reported that additional angel funding mechanisms would be brought in to fund early-stage start-ups.

The two-day Kerala Innovation Festival includes more than 100 thought leaders in areas such as technology, music, fintech, and social enterprises. It also celebrates a decade of KSUM's endeavor to create a globally renowned, inclusive, and impact-driven innovation ecosystem.