Kochi: The Kerala government has launched a mission to bring successful state-based industries onboard to create a conductive ecosystem to support young entrepreneurs.

This comes close on the heels of Budgetary proposals for a Rs 10,000 crore fund to attract private capital for start-ups. State Chief Minister Oommen Chandy, Industries & IT Minister P K Kunhalikutty, Kerala State Industrial Development Corporation (KSIDC) MD Aruna Sundararajan and Industries & IT Principal Secretary P H Kurian held a discussion with business leaders in this regard. The session was organised by Kerala IT in association with Technopark-Technology Business Incubator (TBI) and Startup Village here last night.

As many as 78 successful entrepreneurs from leading business houses in Kerala participated in the session which was a launching pad for the mission that would chalk out a detailed strategy to make the state a best destination for nurturing young entrepreneurs. "Time has arrived for us to act and we are in a transformation mode," Chandy said addressing the session. "The student entrepreneurship policy of the government has started showing results and there has been great vigour and enthusiasm among youngsters to become entrepreneurs," he said, adding the government was committed to extend all help to start-ups and expertise of established entrepreneurs was a pre-requisite for it. Kunhalikkutty said the state should be able to tap the potential of youngsters only with the help of business leaders. 

The industry should join hands with the government to shape future entrepreneurs. "We are supporting young innovators. We would like to see innovations taking place in traditional industries also. We need your expertise, direction and guidance to support the youngsters," the minister said. Aruna Sundararajan said the state should transform into a place of job creators and not job-seekers. "We are starting 50 odd incubators across the state for supporting business and technology startups," she said, adding "We are working closely with CII and TiE for providing mentoring to young innovators." The KSIDC will launch a venture capital fund of Rs 20 crore in the coming Young Entrepreneurs Summit for supporting start-ups, she added.

P H Kurian said works on the Rs 150-crore Technology Innovation Zone project by T-TBI at Kalamassery here was progressing well, and once completed, it will transform the place as Silicon Valley of India. "The works will be completed in two to three years and the new building will be able to accommodate 1,000 start-ups. An entrepreneurship culture is gaining momentum among youngsters in the state which is doing all necessary measures to promote a start-up revolution," he added. Federal Bank MD & CEO Shyam Srinivasan, representing CII Kerala and AVG Group of Companies Chairman A V George, representing TiE Kerala, also spoke on the occasion. 

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