Venture capital fund to help startups: Pinarayi

THIRUVANANTHAPURAM: A venture capital fund to help start-ups in the state is in the making now. Chief Minister Pinarayi Vijayan on Monday said that such a fund is under consideration with the aid of Kerala Bank, KFC and KSIDC. He was speaking to the representatives of start-ups at Mascot Hotel here.
“We have a good relationship with start-ups. An increase in funds to aid start-ups is under consideration. If there is any delay in clearing the bills for start-up aids, it will be cleared soon. We will also help in the sales of start-up products,” said the CM.

Special investment opportunities for start-ups based outside Kerala will also be arranged. More than 50 start-ups have got the benefit of being introduced to corporates to aid in marketing and selling their products. Various government departments have permission to secure mobile applications and software worth upto Rs 20 lakh. 

The government departments can also purchase products worth Rs 1 crore from start-ups registered with the Kerala Startup Mission through tender. Corporations, local bodies and public sector undertakings can also do similar purchases. Representatives of various start-ups spoke at the event, conveying their ideas to the CM. Muhammad Y Safirulla, IT secretary and Sasi Pilatheri Meethal, Startup Mission CEO, were also present.