Kerala has proposed to set up an Artificial Intelligence cluster based industrial park on a PPP basis in association with various technology and knowledge partners.
This will facilitate the creation of a common infrastructure including Graphics Processing Centres, Global Capability Centres and other ecosystem support infrastructure, said P Rajeeve, the State Industries Minister. Plug and play & incubation facilities will be established in the State in association with anchor investors, he said.
Making a declaration at the valedictory session of the IBM GenAI Conclave, the Minister said AI sector has been identified as a priority sector in the present industrial policy. In tune with this, a dedicated AI policy, complying with the ESG goals for the State would be announced in the current fiscal itself. Support will be included in the policy to enhance the existing infrastructure and create a more futuristic AI ecosystem.
As per the new AI policy, the Minister said the government will provide financial assistance including share capital to start-ups in the AI segment.
Preferential share capital investments of up to ₹5 crore would be provided by Kerala State Industrial Development Corporation to AI entities with a minimum investment of ₹10 crore. Scale up loan support of ₹1 crore would be provided along with other incentives notified in the Industrial policy, he said adding that existing MSMEs who are adopting AI technology or AI tools will be provided with financial incentives, thereby strengthening the AI entities in the State, as also empowering the MSME segment.
Adoption of AI in various core sectors like marine genome sequencing, tourism, healthcare, IT/ITeS will also be focused with the support of the technology groups. The government will also encourage usage of AI in various schemes, initiatives. As a first step, the companies in Mission 1000 scheme will be encouraged to adopt AI technologies.
Dedicated session for promoting investments from companies in the AI sector will be conducted in the forthcoming Global Investors Meet to be held in January 2025. Campaigns will be undertaken to promote investments into the State from companies in the AI sector, the Minister said.
Initiatives such as AI training for faculty members, start-ups in the State by IBM, possibilities of participating in international events including ones organised by IBM for AI students/researchers from the State would be facilitated.