Kerala targets 3,000 new IT companies by 2020

aims to have at least 3,000 IT companies by 2020 under the state’s new
Seed Support System for early-stage investment to assist new
entrepreneurs under the new IT policy of nurturing “one product startup a
day”, Chief Minister Oommen Chandy said Sunday.

Speaking via
video link at the Weekend@Startup Village celebrations, he also
announced the setting up of a state-of-the-art Kerala Technology
Innovation Zone at the Kinfra Hi-Tech park where India’s first telecom
business incubator, Startup Village, is currently located.

Village is the first public-private partnership incubator in the
telecom sector of the country located here and has already an innovation
zone set up byBlackBerry.

The new hub will have a built-up
space of 500,000 square feet with all facilities required for a world
class innovation ecosystem and will nurture startup companies across a
number of sectors including IT and biotechnology.

government’s flagship Student Entrepreneurship Policy giving 20 per cent
attendance allowance and five percent grace marks for student
entrepreneurs has taken effect in two Kerala universities. Similar
regulations will be introduced by other universities within a month.

student entrepreneurs will be able to avail of these benefits this
current academic year. 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,”
said Chandy.

The government has also allocated Rs.1.5 million
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.

Industries and
IT Minister PK Kunhalikutty reiterated that no startup with a
potentially great and innovative idea will have to suffer for funding.

“We have money and we have investors who eagerly want to support such ventures,” he said.

co-founder and chief mentor of Startup Village Kris
Gopalakrishnan called Startup Village a “mass movement that will change
Kerala” and praised the government for its support for the venture.