Thiruvananthapuram, Nov 12 (PTI) Keralam Chief Minister V D Satheesan on Thursday announced a shift in the state’s startup strategy, with a focus on nurturing globally competitive enterprises rather than merely increasing the number of startups.
He outlined the proposed change after inaugurating the eighth edition of Huddle Global 2026, a beachside startup festival organised by the Keralam Startup Mission (KSUM) at Kovalam here.
In a post on X, Satheesan said the government would provide institutional support to scale up the state’s startup ecosystem and bring it in line with global standards.
He said the ecosystem had grown to more than 9,200 startups, generating over 76,000 jobs, building on the Technology Startup Policy introduced in 2014 under former Chief Minister Oommen Chandy.
“Today, we are announcing a major shift in our startup strategy: from quantity to quality, from creating startups to building globally successful enterprises. Our ambition is to nurture more than 100 startups with annual revenues exceeding Rs 100 crore,” he said.
In a subsequent statement, Satheesan said several home-grown startups had attracted investments and mentorship, but the next phase of growth required greater focus on scaling up and positioning Keralam as a global model of technology-driven development.
“The next phase of the journey needs sufficient funding, mentorship and institutional support. The government is deeply committed to providing support to the ecosystem,” he said.
Outlining the government’s priorities, the Chief Minister said it would establish 10 world-class, research-driven incubators through the Translational Research and Innovation Centre-Kerala (TRIC-K), an academic-industry incubator hosted at the University of Kerala.
The government plans to strengthen startup funding, innovation grants, research and development support and seed financing. It would also develop new debt-financing instruments through the Kerala Financial Corporation (KFC), Kerala State Industrial Development Corporation (KSIDC) and banking partners, he said.
The government aims to empower young innovators through Gozip, its flagship GenZ Innovation programme, with district-level innovation clusters and builder residencies, he added.
“From underwater robotics and semiconductor design to artificial intelligence, biotechnology and maritime innovation, Keralam has the talent to build technologies for the world. Our message to every young entrepreneur is simple: You don’t have to leave Keralam to build something the world needs,” Satheesan said in his post.
He said government initiatives such as Mission Samudra and the Silver Economy programme could be linked to the startup ecosystem, creating opportunities for entrepreneurs.
Referring to Keralam’s status as the first Indian state to establish a dedicated department for senior citizens, he said startups would be encouraged to tap into the experience and mentorship of the elderly.
Mission Samudra seeks to integrate Keralam’s coastline, ports and water resources with road, rail and inland waterway networks, industries, logistics hubs and emerging economic centres.
The Silver Economy refers to the economic activities, goods and services catering to the health, living and lifestyle needs of older people.
Satheesan said the foundation laid by the Oommen Chandy government had evolved into a thriving startup ecosystem, and the next goal was to nurture high-revenue enterprises, strengthen research and incubation facilities and create more opportunities for young innovators.
“With Vizhinjam opening new gateways to global markets, we are determined to take Keralam’s innovation, talent and enterprises to the world,” he said.
Noting that Huddle Global had brought the world to Keralam’s shores over the past eight years, Satheesan said the focus would now be on taking the state’s innovations to the world.
The objective was not merely to create more startups but to make Keralam a destination where they could grow and compete globally, he said.
Industries Minister P K Kunhalikutty, who also addressed the event, said the government’s vision was to position Keralam as a global destination for investment and entrepreneurship.
“The government’s policies are based on a vision to position Keralam as an active participant in global technology revolution with particular focus on emerging technologies including Artificial Intelligence,” he said.
Sophie Karlshausen, Ambassador at the Embassy of Belgium, said the partnership between Keralam’s startup ecosystem and the European innovation zone was expected to grow further.
Actor Keerthy Suresh said innovative initiatives needed to be approached with creativity, a willingness to experiment and an openness to taking risks.
The inaugural session witnessed the exchange of memoranda of understanding (MoUs) between KSUM and the state Elderly Department, PhonePe, Tata Consultancy Services (TCS) and the National Cadet Corps (NCC).
Thiruvananthapuram-based climate and weather intelligence company mistEO also announced an investment of Rs 18 crore, led by MGF Kavachh and co-led by Seafund. PTI HMP SSK
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