Powered by policy support, infrastructure and entrepreneurship development initiatives, the start-up culture has struck roots in Kerala, with the State accounting for 757 of the 5,000-odd technology start-ups in the country.
The IT sector hosts the maximum number of 388 start-ups in Kerala, followed by health with 59, retail with 55 ventures and educational technology with 52. The hardware sector has 38 start-ups and food 36. The other industry segments that have proved to be a magnet for entrepreneurs in the State include fintech, agro, gaming, energy, automobile and media, according to the latest report of the Kerala Startup Mission (KSUM).
Supporting and partnering the companies is a State- wide network of Innovation Entrepreneurship Development Centres (IEDCs) in 193 colleges, backed by digital fabrication laboratories (Fablabs), incubators, technolodges and accelerators.
Ernakulam, with 414 start-ups and Thiruvananthapuram with 134 are the leading destinations for start-ups, with the rest distributed across the other districts. “About 10% of the home-grown start-ups have gone on to become successful enterprises, with 2 to 3% of them becoming big enough to capture national and global attention,” said Saji Gopinath, CEO, KSUM.
The maximum number of 213 enterprises was registered in the year 2015, followed by 161 in 2014 and 155 in 2016. However, in a State where women outnumber men, males dominate the start-up ecosystem, accounting for 96% of the founders and 87% of the co-founders.
Among the major success stories is Sastra Robotics set up by three fresh graduates. The company which develops robotic manipulators for device test automation is ranked among the top 50 start-ups in the world.
“We have a start-up that has come up with a kit for early detection of mastitis in livestock, a company that offers a Web platform for building design and supply of materials and another one dedicated to biomedical devices,” Mr. Gopinath said.
“While start-up activity in India is largely concentrated in major cities such as Bengaluru, Hyderabad and the national capital region, the enterprises in Kerala are distributed across the State,” Mr. Gopinath said.
The KSUM has lined up several initiatives to build up on the momentum created in the first phase of the start-up movement in the State.