Kerala will formulate a proposal and submit it to the central government to get funds from the Rs 10,000 crore corpus allocated in the 2014-15 budget to support startups, said a senior state official.

 

 

 State Industries and IT Secretary P.H. Kurian Saturday said a comprehensive plan will be drafted to get sufficient funds from the central government to fuel the growth of the startup ecosystem in the state.

 

 Participating in a panel discussion titled "How the budget allocation can be utilised for fuelling the growth of the startup ecosystem in Kerala" at Startup Village here, he said that apart from providing 2GB free internet connectivity to the area, the government will soon provide 100 startup boxes to the young entrepreneurs in the state.

 

 "The new building coming up in Startup Village, with a built up space of two lakh sq ft, will be completed soon and it will have around 1,000 young entrepreneurs working from it," he added.

 

 Infosys co-founder and Startup Village chief mentor Kris Gopalakrishnan said the Startup Village at Kalamassery was a unique model and provided the right ambience for youngsters to grow which was not the case some decades ago.

 

 "Today, there is technology and government to help youngsters who are willing to start a business. One only needs to put in their imagination to make the business successful. It is an amazing time in India to start a business as you have the right talent and market available within the country," he added.

 

 Extending all support to Startup Village, Choice Group founder Jose Thomas said that the incubator had evolved as a role model for other states to follow.

 

 Impressed by the performance of the country's first PPP model incubator, he handed a cheque for Rs 2.5 million to Startup Village chairman Sanjay Vijayakumar on the occasion.

 

 Bringing in his two decades of experience from Silicon Valley, Envestnet Group president Babu Sivadasan said for a venture to be successful, startups must focus on products, employees and clients and not just money.

 

 "Startup Village must be commented for its vibrant environment and the opportunities it was providing to youngsters and for bridging the gap between Silicon Valley and Kerala," he said.