Chief Minister of Kerala, Pinarayi Vijayan during the third edition of Young Entrepreneurs Summit (YES 2017), said that the government has set apart Rs 1,375 crore for the development of start-ups in Kerala, out of which Rs 549 crore is for IT and related areas. And in order to support technological innovations, the government has kept apart Rs 10 crore.
YES 3D 2017 was organised by Kerala State Industrial Development Corporation (KSIDC), on September 12, with the theme ‘Disrupt, Discover and Develop’. The event witnessed the participation of 2,000 young entrepreneurs from different parts of the state.
Speaking on the occasion, Vijayan said that start-up ecosystem in the state should not be restricted to IT sector only. “The youth should bring innovative ideas in areas like tourism, health and waste disposal. We also need more startups operating in value addition of agricultural products,” he added.
The Chief Minister also said that the government has taken steps to make Kerala the most investor-friendly industry-friendly state in the country. “Our government will not fail the investors coming to Kerala with innovative ideas,” he said.
“The government is already planning an Investor Promotions and Facilitation Act to make it easier to do business in the state,” said AC Moideen, Minister (Industries, Sports & Youth Affairs). Regarding the question of land availability, a land bank of 5,000 acres is already planned.
Aruna Sundararajan, Secretary, Department of Telecommunications also said that Kerala can be India’s Silicon Valley, given the talent, natural resources and the government support that is available in the State. “A large market, technology and supportive government policies would provide a huge opportunity for entrepreneurs in Kerala,” she added.
As part of YES 3D 2017, KSIDC also organised an exposition of 49 promising start-ups, technology incubators and research centres owned by the Central government in the state.
1500 Startups will be backed financially. Govt. has identified Startups as an opportunity for progress & has allocated ₹1375 Cr for it.
— Pinarayi Vijayan (@vijayanpinarayi) September 12, 2017