The start-up ecosystem in Kerala will play a major role in bolstering future investments in the State, said Kerala Finance Minister KN Balagopal.
‘Need awareness among HNIs’
Virtually inaugurating the seventh edition of Seeding Kerala, the Kerala Start-up Mission’s (KSUM) flagship initiative to attract high profile investors to the State by showcasing opportunities in start-ups, Balagopal said Kerala needs to develop an investment culture by creating awareness among the High Networth Individuals (HNIs) about the potential of the ecosystem.
“We have a lot of HNIs and there are several new areas which need investment. A campaign to create awareness among HNIs is needed,” he said, adding that the Seeding Kerala meet will help explore new possibilities.
Acknowledging the practical issues faced by start-ups in raising funds from State agencies like the Kerala Finance Corporation, Balagopal said the government is working on these concerns. The two-day summit in hybrid format is hosted by KSUM, the State’s nodal agency for start-ups.
‘Mature ecosystem’
Infosys co-founder Kris Gopalakrishnan said the start-up ecosystem in the State has become more mature and is attracting more capital, not just from Kerala, but outside. “Every ecosystem will require creation of a local support system. Kerala, I strongly believe, has created that support system in terms of physical infrastructure, not just in one location but multiple locations like Thiruvananthapuram, Kochi, Kozhikode and Kannur,” he said. The State has also created a talent infrastructure, besides providing mentoring support to start-ups, he said.
“We are now seeing more and more successes, we have more examples and exemplars and icons which will show the way. I strongly believe that Kerala has created a sustainable model ecosystem for start-ups and the future is looking bright,” said Gopalakrishnan.
The invite-only summit being held in physical and virtual mode would witness interactions between 150 select participants, 100 HNIs, representatives of 10 top funds, 14 angel networks, 30 corporate houses and family offices besides 30 selected start-up founders. Unicorn India Ventures, Indian Angel Network, and Speciale Invest are the fund partners for the event while Malabar Angels, Kerala Angel Network and Smart Parks are angel partners.
The summit is one of the many initiatives undertaken by KSUM in its quest to create a vibrant start-up ecosystem in the State to foster the growth of innovation-led technology entrepreneurship.