Historically, owing to its strategic location, the peninsular tip of the subcontinent fostered trade relations with Egypt, Assyria, Greeks, Romans and the Chinese. Today, however, the paradoxical “Kerala phenomenon” of very high human development and not much economic development is a result of a stronger service sector with fewer business activities.
Kerala State Entrepreneur Development Mission (KSEDM)
• An ambitious scheme of the Government of Kerala that aims at inculcating entrepreneurial confidence among youth of the State through the process of selecting persons with aptitude and earnestness, training them meticulously and enabling them avail finance on easy terms from Banks/Financial Institutions.
Single Window Clearance System: The Government of Kerala has introduced the Single Window Clearance System in the State, with the intention of expediting the issue of various clearances for new Industrial Projects. Kerala State Industrial Development Corporation has been designated as the Single Contact Point and the Convener of the State Board. The Board has statutory powers to enforce its decisions.
Kerala start-Up Mission: Kerala Startup Mission (KSUM), is India’s first and Most successful Non Academic Business Incubator, hosted and housed inside the Asia Largest IT Park Technopark. Technopark Technology Business Incubator (T-TBI), a joint association of Technopark, Trivandrum and the Department of Science and Technology (DST), Government of India, to help the technology business start-ups.
Following are some of the schemes of KSUM:–
• The Student Entrepreneurship Scheme
• Setting up of new Technology & Business Incubators
• 20% attendance relaxation and 4% grace marks for the students who pursue entrepreneurship and innovation during their studies.
• Startup Boot camp: Government of Kerala to invest 1% of the state’s budget in the nascent startups of the state. The Government of Kerala has created the “Startup Boot camp” Program wherein it is envisaged to create a startup ecosystem in each and every college campus through active involvement of students. Boot camp is a student-focused program that will be completely run by students.
Entrepreneur Support Scheme
• Provides extensive support to micro, small and medium enterprises
• Gives one time support to entrepreneurs, with due regard to special categories by optimal utilization of funds and giving more flexibility of operation while implementing the Scheme.
• Entitlement in the scheme shall be limited to an amount of Rs. 30.00 (Thirty) lakhs per applicant unit to be availed only once. The upper limit of Rs. 30.00 (Thirty) lakhs shall be enhanced by 5% per annum during the period of operation of the scheme to address the escalation of costs.
The largest social entrepreneur network of women, Sandesh One, is an entrepreneur-driven venture initiated by Kerala State Women’s Development Corporation
• Kerala State Industrial Development Corporation Ltd: It provides professional guidance and support for potential investors through a comprehensive set of services that include developing business ideas, identifying viable projects, providing financial assistance, guidance and assistance for implementation is offered by KSIDC.
Kerala Institute for Entrepreneurship Development (KIED): It’s a public sector training institute to foster and encourage the entrepreneurship spirit of the youth of the state. The institute is aimed to create awareness, finding the factors for the poor entrepreneurship culture and sorting out the issues for the development of entrepreneurial culture in Kerala.
MSME Training Institute: MSME TI organizes comprehensive training programmes to upgrade skills of prospective entrepreneurs.
In Summary – Kerala and Entrepreneurship:
Kerala has seen a huge boost in the number of startups being formed, with students turning to entrepreneurship with an alarming frequency. In such a robust environment, it’s easy for us to have missed out on some valuable details. Help us make this page better with any information that you can add. Share your inputs and suggestions below and we’ll make sure we incorporate them.
To know more about how Kerala is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Kerala:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.