You are here: HomeCorporateRole of Startups in Kerala in Building Future Industries

Role of Startups in Kerala in Building Future Industries

Published in Corporate Tuesday, 14 January 2025 17:29

 

 

By Vinod Manjila, Chairman, CII Kerala

 

 Kochi, 15th Jan 2025: India has made a significant contribution in taking the startup ecosystem to a healthy growth. The growth of startups is one of the factors that go hand in hand with the economic and innovative growth of the country. It is in this context that the Startup India Innovation Week 2025, organized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, from January 10 to 18 , is noteworthy. This celebration should be seen as a testament to the vibrancy and growth of the startup ecosystem.

Startup India completes nine remarkable years on January 16. From just 400 startups in 2016 to over 1,70,000 registered startups today, the country has successfully grown as a global innovation hub. Startup India is aligned with the Prime Minister's vision of Bharat @ 2047, which aims to transform India into a developed nation .

In this context, it is worth mentioning that the startup ecosystem in Kerala is one of the most prominent in the country compared to other states in India. Startups in Kerala have become one of the fastest growing industries in the state. I am proud to see this ecosystem becoming a breeding ground for future industries. This is helping to drive economic growth in the state and also creating many job opportunities.

Kerala is among the top performers in the fourth edition of the States Startup Rankings conducted by the Union Ministry of Commerce and Industry in 2024. It is worth noting that Kerala has performed well in the last three editions.

The state's startup ecosystem has witnessed remarkable growth during this period, with a 20 % year-on-year increase in registered startups and over 3,500 active ventures across various sectors. This surge in entrepreneurship underscores Kerala's growing reputation as a hub of innovation.

The Kerala Startup Mission (KSUM) plays a crucial role in creating an environment for entrepreneurs to implement their ideas. Various state government initiatives like IEDC (Innovation and Entrepreneurship Development Centres for Colleges), YIP (Young Innovators Programme) , incubation and acceleration programmes , and corporate innovation have made Kerala the best place in the country for startups.

The growth of startups has accelerated digital transformation across a variety of industries in the state. With the increasing adoption of digital tools and platforms , startups in Kerala are playing a crucial role in building the industries of the future through technological innovation , sustainability , and economic diversification. With a focus on sectors like healthtech , agritech , fintech , edutech , and renewable energy, our startups are transforming traditional industries , creating green technologies , and improving accessibility through digital solutions.

The startup ecosystem in Kerala is poised for significant growth in the coming years. The state government's policies are helping to further simplify the regulatory framework for launching our startups and provide more resources to startups.

Kerala is looking forward to a future of innovation and sustainability through strong growth , strategic partnerships , problem-solving with innovative solutions , and fostering a culture of disruption and progress in all areas. The continued success of Kerala’s startup ecosystem will be critical in shaping the industries of the future by introducing new ideas, technologies , and ways of doing business. This will not only help the state thrive in the present , but also become a major player in the global economy.



 

 

Last modified on Wednesday, 15 January 2025 16:31

Leave a comment

Market Data

Magazine

Business Digest Onam 2020

Current Issue

Previous Issues

Editors Pick

Start industries suiting youth’s skillset: Minister Rajeeve at Malabar Conclave

Start industrie...

        ‘Major plans on anvil for ...

CII Kerala hails union budget

CII Kerala hail...

    Kochi: Corporate leaders represe...

Škoda Kylaq officially launches in India

Škoda Kylaq off...

  India-wide deliveries kick off fo...

Škoda Kylaq secures a 5-star rating in Bharat NCAP crash test

Škoda Kylaq sec...

  Becomes Safest car in its segment*  ...