Kerala Startup Mission:- India’s startup ecosystem has grown exponentially. It has become a worldwide startup hub, with young entrepreneurs starting new businesses around the nation. The government is supporting startup aspirations in a busy entrepreneurial ecosystem. Many government entities encourage entrepreneurial growth and incubation, motivating these startups to take flight.
Kerala is working to establish a dynamic environment for sustainable exponential technology firms that solve society’s concerns. Kerala is an early user of startup goods and services and is actively developing programs to support this trend. In 2006, it created the Kerala Startup Mission to foster technology-based entrepreneurship by providing the right environment and infrastructure. In this article, we will talk about startupmission.kerala.gov.in in detail.
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Kerala Startup Mission 2023
The state government of Kerala has, over the course of several years, implemented a number of initiatives designed to cultivate a dynamic startup ecosystem within the state. The primary objective of these initiatives has been to encourage the expansion of innovation-driven technological entrepreneurship. This objective for startups encompasses all aspects of startup culture, beginning with capacity building and progressing through infrastructure development, finance, and industry association. The Kerala Startup Mission started its operations by offering a variety of programs that are aimed at young people in academic settings in order to raise awareness about the benefits of becoming an entrepreneur.
It is encouraging that through multiple interventions under the Kerala Startup Mission and its sector-specific partner organizations, there are 3,900 registered startups, 67 incubators, 370 mini incubators, a future technology development lab, IOT labs, and 22 fablabs, such as mini fablabs, dispersed all over districts.
01st May 2023 Update:- Applications Invited for Kerala Startup Mission
The Kerala Startup Mission (KSUM) has issued an application call for the Patent Support program, which was established by the Kerala government to pay student entrepreneurs and startups for the costs incurred in securing national and international patents for their discoveries. Starting on May 1, startups and student innovators who meet the requirements can submit online applications through the KSUM site. The program makes sure that any expenses incurred by the applicant during the patent application process will be refunded. The program, which aims to encourage innovation and entrepreneurship by utilizing the top-notch resources and assistance offered by the state, is applicable to all patent applications submitted by registered patent attorneys after November 9, 2015. Visit startupmission.kerala.gov.in to submit an application.
|Name of the scheme||Kerala Startup Mission|
|Launch by||Kerala State Govt.|
|Objectives||Help and grow Startups|
Kerala Startup Mission Objectives
The following is a list of objectives that have been set for this mission:
- To raise the intensity of research and development.
- To promote the development of climate and cultural innovations.
- The process of putting technology on the market.
- For the purpose of encouraging the development of a culture of entrepreneurship.
- For the purpose of lowering the obstacles to admission.
- To provide infrastructures for innovation, such as centers for technology transfer and research as well as incubators for new businesses.
- To encourage small and medium-sized businesses to use key technology.
- To expand access to pre-commercialization finance.
- Offering tax breaks in the form of credits for research and development as well as favorable capital cost allowances.
- To encourage traditional businesses by using cutting-edge methods.
Kerala Startup Mission Eligibility
The following is a list of the qualifying requirements to register for the Kerala Startup Mission:
- A youngster currently attending school in Kerala
- An original thinker with operations in Kerala
- A new business has been registered in Kerala.
Eligibility Requirements for a New Business
- Companies that were founded less than seven years ago or that deal with biotechnology Startups that have not been registered for at least 10 years are ineligible.
- The amount of revenue generated by a startup in any of its prior financial years should not be more than Rs. 25 Crore.
- The new business venture has to have its primary focus on the creation of innovative items or processes as well as the enhancement of existing ones.
- A scalable company concept that has a significant potential for either the development of riches or job opportunities.
- Kerala Startup Mission participants are state-registered firms.
- KSUM offers pre-incubation to entrepreneurs in the ideation stage.
Kerala Startup Mission Schemes
The Kerala Startup Mission has initiated a number of different initiatives and programs in order to foster an entrepreneurial spirit among students. Every one of these programs was launched in accordance with the “Startup Policy” that the state of Kerala has in place. For efficient operation, the startup programs offered by KSUM encompass educational institutions, including universities and schools, as well as new businesspeople.
A Plan for Incubation and Acceleration
A founder of a startup company who participates in this program may be eligible for a number of grants and other types of assistance from both the state and federal governments. This gives fledgling firms access to facilities for incubation and launch. The following activities make up each stage of the incubation process:
- Idea Acceleration – the step between Idea and Concept
- Acceleration of the Product from the Concept to the Launch stage
- Acceleration of the Market: From Launch to Revenue Stage
KSUM provides funding for the following initiatives as part of this program:
- Putting Together the Annual Accounts
- Secretarial Services.
- Services related to taxes
- The preparation of the audit statement.
- Services for EXIM, TAN, PAN, and SEZ
- Plan and Forecast of the Financial Situation.
- Copyrights, Patent Protection, and Trademark Protection
- Services of a Notary Public
- Evaluation of a Company’s Worth and Its Investment Profile
- Legal, IP, and Client Agreement.
The following is a list of funding programs that are available via KSUM:
Innovation Grant: The state government of Kerala has begun awarding innovation grants in an effort to encourage “driving forces” such as innovation and research and development. This award is intended to foster novel approaches to the resolution of long-standing issues.
Early-Stage KSUM Seed Fund: This financing program provides financial help to new businesses in the hopes of bolstering the economy of the state by way of the formation of new ventures and an increase in jobs. In addition to this, it helps to leverage private investments.
Initial Equity Fund: In the context of this program, KSUM has collaborated with venture capital funds that have been accredited by SEBI to establish a corpus fund for new businesses.
This plan, which is known as the Patent Support System, was suggested in the budget address for the 2015–2016 fiscal year. It provides assistance to student entrepreneurs in the process of getting a patent.
Kerala Startup Mission Application Procedure
Just follow the steps below, shown below, in order to apply under “Mission.”
- You will need to go to the homepage of the Startup Mission, which may be found on the online site for Kerala.
- To begin, go to the homepage and choose the “Apply now” option.
- Please apply by clicking the link that corresponds to your situation.
- In order to utilize the services provided by the Kerala Startup Mission, you will need to first become a registered user.
- The page will be shown after the Apply button kind of start-up has been selected and clicked on. Choose the startup you are running, then select the “Register option”.
- The page for beginning the start-up process will then be shown. Please include the following information: first name, last name, email address, and mobile phone number which is all the personal details.
- After completing the registration process, you will be able to use the user credential to log in to the portal.
- Once you have enrolled for the site, you will have access to all of the key events that take place in the Kerala ecosystem, and you will also have access to the numerous programmes that are available for start-up businesses.