Thiruvananthapuram, Sept 29 (KNN) Kerala Industries Minister P.Rajeev on Wednesday said that the state is considering the doubling of scale-up funding provided by the Kerala State Industrial Development Corporation (KSIDC) for start-ups to Rs 1 crore.

Speaking after the inauguration of the Scale-up conclave organised by the KSIDC, Rajeev said that the government is studying the reasons behind some start-ups that achieve growth after receiving seed funds and then leave the State, in order to address their problems.

As per reports, the decision to increase the funding is being considered in order to retain successful start-ups within the State.

Rajeev said that out of the allotted Rs 7 crore in the current year, only Rs 2 crore has been claimed. He urged start-ups to make use of it.

The KSIDC will also set up a support team for providing start-ups help in scaling up as well as for other purposes. Entrepreneurship development clubs will be formed in all educational institutions.

“Exhibition of promising projects from the campuses will be organised and possibilities of commercially launching them as products explored. The linkage between academic institutions and the industry will be strengthened,” he said.

The industries minister said that all the benefits that are now available for IT-based start-ups will be extended to non-IT start-ups too.

The Start-up Mission CEO Anoop Ambika, Digital University Kerala Vice Chancellor Saji Gopinath, KSIDC Managing Director S. Harikishore and KSIDC General Manager Ashok Lal were amongst those present at the event.  (KNN Bureau)