Thiruvananthapuram, June 16 (KNN) The Kerala StartUp Mission (KSUM) in 2023 has saw a steep rise in the number of startups registered with the total tally touching 652 till May, reported TNIE.

The boom also reveals that more youngsters are turning entrepreneurs rather than choosing a job.

In 2022, the number of new startups registered was 880, compared to 750 in 2021. This shows a 35 per cent of growth in the registration of startups compared to last year. 

Ernakulam district tops the chart in the number of startups. In 2023, 180 new startups were registered in the district while Thiruvananthapuram came second with 71. 

As per reports, most of the startups are product-focused with the integration of advanced technologies, including artificial intelligence and robotics.

Anoop P Ambika, CEO, KSUM, told TNIE that various initiatives of the KSUM helped youngsters start their own enterprises.

“The present generation has more risk-taking ability. They are getting the confidence to start as they wish. The state government is providing all assistance and ecosystem they want. The youngsters are also open to experimenting. This is the reason for the rise in the number of startups. Primarily they came forward with confidence and ideas. The capital will come normally,” he said. 

Recently,  KSUM announced plans to build a dedicated space for startups at Technopark Phase IV (Technocity) in the capital. 

The emerging startup hub will be housed in a 5 lakh sq ft building that will come up on three acres of land on Technocity campus at Pallipuram. The building can accommodate around 1,000 startups, with a total construction cost of `145 crore.

KSUM had also planned a slew of initiatives this year to ensure a robust startup ecosystem in the state. It had prepared a 10-point action plan to help startups scale globally. The other major projects include sector-specific incubation programmes to support startups focusing on various technologies like enterprise software, fintech, agri-tech, and health technology.   (KNN Bureau)