In affirmation of Kerala’s thriving start-up ecosystem even in the face of the COVID-19 pandemic, the State has found a place in the 2021 Global Startup Ecosystem Report (GSER) with a ranking in the Top 20 Global Ecosystem.
The report, which was prepared by Startup Genome and the Global Entrepreneurship Network and globally launched earlier this week coinciding with London Tech Week, ranks Kerala as the fifth Asian Ecosystem in Affordable Talent.
The 2021 Report, which ranks the leading 140 ecosystems across the globe, analyses and evaluates the start-up markets based on the seven parameters of performance, funding, connectedness, market reach, resource attraction, experience and talent.
Four criteria
Kerala’s standing in the GSER 2021 was based on four criteria. It found a place in Top 20 Global Ecosystem in Affordable Talent which measures the ability to hire tech talent. Secondly, it created $43 million in ecosystem value with $4.6 million in total early-stage funding over the past two and a half years. Thirdly, start-up support and government as an early adopter were cited as the reason a start-up should move to Kerala. Lastly, the Advanced Manufacturing & Robotics, AI, Big Data and Analytics sectors were highlighted for their density of talent, support resources, and start-up activity.
“Kerala has a strong network connecting all the stakeholders in the start-up ecosystem. The high literacy rates, skilled human resource, entrepreneurial environment and proactive government support make Kerala a global destination for start-ups,” said John M Thomas, Chief Executive Officer, Kerala Startup Mission. “By making it to this year’s GSER, Kerala’s start-up ecosystem has underlined its vibrancy and resilience on the global stage,” a press note quoting him said.
