Aimed at transforming the State as the hub of deep-tech start-ups, Kerala Startup Mission (KSUM) has proposed to set up an emerging technology hub at Technocity.
A move in this regard comes in the wake of Kerala winning the ‘Best Performer’ award in the States’ Startup Ranking 2022 of the Department for Promotion of Industry and Internal Trade (DPIIT).
Anoop Ambika, CEO, Kerala Startup Mission, said the emerging technology hub will come up at a cost of ₹1,500 crore in a five lakh square feet at Pallippuram near Thiruvananthapuram.
Deep-tech start-ups can leverage the immense possibilities of technology. The hub will be largely beneficial for start-ups from the domains of artificial intelligence (AI), machine learning, blockchain, computer imaging, and other innovative applications needed for burgeoning technologies like virtual reality, he said.
Kerala was adjudged the ‘Best Performer’ in the States’ Start-up Ranking 2022, which is yet another testament to the State’s conducive ecosystem for budding entrepreneurs. The entire list of rankings was released on the occasion of National Startup Day.
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The ‘Best Performer’ is the topmost start-up ranking level, followed by the ‘Top Performer’ title, which was also won by Kerala earlier for the last three years for providing institutional support to start-ups, students and women entrepreneurs, besides providing nascent companies enormous opportunities to interact with investors through programmes such as IGNITE.
The State’s efforts to encourage start-ups involved in bringing about ambitious changes in the rural sector also enabled the southern state to win the laurel.
KSUM, which was established in 2006 under the Kerala government, works for entrepreneurship development and incubation activities in the State.