The Kerala State Industrial Development Corporation (KSIDC) has unveiled plans for 200 start-up companies to be established in the State in this running year – 2017.

State Industries Minister A C Moideen said in a press conference on September 7 that moves are afoot to promote start-ups by student entrepreneurs and the youth. The focus would be on diversifying into new sectors beyond Information Technology.

The Minister said that Kerala State Industrial Development Corporation (KSIDC) has identified the need to encourage young entrepreneurs for the growth of the State’s economy. He said 85 per cent of the 110 start-ups in the State have bloomed into successful ventures. An amount of Rs 12 crore were disbursed as seed fund and Rs 20 crore spent on improving infrastructural facilities for the fledgling companies, he informed.

The Minister drew attention towards sectors like agriculture, biotechnology, electronics and health as potential sectors for entrepreneurs to set up start-ups in Kerala.

Managing Director, KSIDC, M Beena informed that the 3 business incubation centres – Infopark at Kochi, Inkel Tower at Angamaly and Cyberpark at Kozhikode – are well equipped to provide support to young entrepreneurs in their effort to convert innovative ideas into commercially viable products.

As part of the State-sponsored initiative to promote start-ups, KSIDC is organising the third edition of Young Entrepreneurship Summit (YES- 2017) at Le Meridien, Kochi, on September 12. The summit would be based on the theme Disrupt, Discover and Develop (3D).

Chief Minister Pinarayi Vijayan is scheduled to inaugurate the event. Union Telecom Secretary Aruna Sundararajan will deliver the keynote address. The discussions will explore the potential for start-ups in various sectors including agriculture and food processing, biotechnology, biomedical and future technologies.

Industry honchos, venture capitalists and representatives of successful start-up companies from other states are expected to participate in the deliberations. A highlight of the summit is an exhibition of innovative products developed by entrepreneurs including coconut plucking drones and robotic arms.