The government is committed to promoting enterprises built around fresh ideas and concepts, Chief Minister Pinarayi Vijayan has said.
Inaugurating the third Young Entrepreneurs Summit (YES-2017) jointly organised by the Kerala State Industrial Development Corporation (KSIDC) and TiE, Kerala, here on Tuesday, Mr. Vijayan said the State wouldn’t disappoint anyone coming forward to start a novel enterprise. The government had taken measures to extend all financial support to such enterprises, he said.
The KSIDC itself would financially support 1,500 start-ups. The government, he said, had earmarked a total of ₹1,375 crore for sectors that had been described as future sources of economic growth. Of this, ₹549 crore was allocated for IT and IT-enabled industries; ₹10 crore would go for technology innovation and ₹70 crore would be for enterprises by the youth. The KSIDC, he said, would ensure basic amenities and all infrastructural requirements for start-ups, and the need of the hour was for young start-ups to branch out into areas such as agriculture, health, tourism and waste management.
Mr. Vijayan said the government was committed to turning the State into investor and industry friendly, as the goal was to support professionally-qualified youth so that they used their expertise within the State. The government, he said, was seized of the fact that the existing processes weren’t suited for industrial entrepreneurship and was therefore taking measures to bring about an overall change.
Film launched
Earlier, he launched the signature film of the summit by using a special catapult handed over by a robot designed and developed by Asimov Robotics.
A.C. Moideen, Industries Minister, said the government would legislate an Investment Promotion and Development Act to grant hassle-free clearances to start enterprises. Also on the cards was a plan to acquire 5,000 acres of land to set up industries, he said.
The whole day programme had entrepreneurs, officials, budding entrepreneurs and college students interact on opportunities existing in a variety of fields such as sustainable technologies and agri-food processing and biotechnology.