Economy News

KERALA STARTUP MISSION (KSUM)

Written by Talent KAS

Related Topic in KAS Prelims Syllabus:

Economy [Paper-II]: Economy of Kerala, Major Developmental Projects, Programmes and Schemes, IT Sector

News

  • Kerala Startup Mission (KSUM) has been recognised as the world’s top Public Business Accelerator by UBI Global, a Stockholm-based company, based on the World Benchmark Study which ranks business incubators and accelerators.
  • The honour for the KSUM was announced at the World Incubation Summit for the Best Programmes in Doha, Qatar.

About KSUM

  • It is the nodal agency for entrepreneurship development and incubation activities in Kerala.
  • It was founded in 2006 and is headquartered at Thiruvananthapuram.
  • It is responsible for policy framework and implementation of the start-up schemes in Kerala.
  • It supports the start-up ecosystem through different components such as infrastructure, human capital development, funding, governance, Public-Private Partnership, global collaborations and scaling existing and establishing new start-up ventures.
  • It promotes entrepreneurship at different levels — from schools to start-ups.

Initiatives

  • It has designed and executed a set of programmes and schemes as per the revised Kerala Startup Policy (Technology Innovation and Entrepreneurship Policy) to identify and support technology startups in the State.
  • To ensure investment opportunities, KSUM has come out with an innovative Fund of Fund scheme to invest in Alternative Investment Funds (AIFs).
  • KSUM has collaborated with Ernst & Young to develop a Business & Technology Accelerator at the KINFRA Film & Video Park, Thiruvananthapuram.
  • With the support of the Government of Kerala, KSUM has started two MIT (Massachusetts Institute of Technology) USA Electronics Fabrication Laboratories, commonly called Fab Labs, at Technopark, Trivandrum and Kerala Technology Innovation Zone (KTIZ), Kochi.
  • Kerala government launched the initiative “Learn to Code” in 2015. During phase 1 of the initiative, 2500 Raspberry Pi computer programming kits were distributed to class VIII students.
  • KSUM and the IT@School Project initiated the Kerala Raspberry Pi Competition for students who received the Raspberry Pi kit
  • Kerala government introduced the ‘Startup Box Programme’ for aspiring entrepreneurs through KSUM in 2015.

[Source: The Hindu]

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Talent KAS