"All student entrepreneurs will be able to avail of these benefits this current academic year. We don't want our students to aim for a job or a visa after they complete education. We want them to become job creators and transform our economy that way. The government will provide every possible support for any entrepreneurial venture that has potential," said Chandy.

The government has also allocated 1.5 million for Startup Village's flagship programme SVSquare, to "build a bridge between Kochi and California", enabling young aspiring businessmen and women to experience first-hand the renowned entrepreneurial culture of the global technology capital at Silicon Valley.

Industries and IT Minister P.K. Kunhalikutty reiterated that no startup with a potentially great and innovative idea will have to suffer for funding.

"We have money and we have investors who eagerly want to support such ventures," he said.

Infosys co-founder and chief mentor of Startup Village Kris Gopalakrishnan called Startup Village a "mass movement that will change Kerala" and praised the government for its support for the venture.

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