1,500 startups in five years in Kerala: Thomas Isaac
The Kerala Financial Corporation would spend Rs 50 crore on funding start-ups.
THIRUVANANTHAPURAM: Setting a target of 1,500 start-ups in five years, Finance Minister Thomas Isaac has mooted financial support of Rs 2 lakh each to those coming up with innovative projects and even Rs 1 crore loan without collateral security to selected ones. Dr Isaac earmarked Rs 60 crore for activities to support start-ups at the Innovation Zone at Kalamassery. The Kerala Financial Corporation would spend Rs 50 crore on funding start-ups.
Considering the demand for more IT space, the minister earmarked Rs 1325 crore for construction activities in various IT parks. These include Rs 225 crore for 3.4 lakh square feet facility at Innovation Zone, Rs 100 crore for two lakh square feet facility at Technocity, '750 crore for eight lakh square feet facility at Technopark and a new building at Kozhikode Cyber Park.
The budget also mooted a telepresence network connecting engineering colleges with IT parks. The proposed free wi-fi facility at public hotspots like bus stands and railway stations would be extended to first grade libraries in the state also and Rs 25 crore was earmarked for the project. The budget is silent on any allocations to expand e-governance to more government departments and institutions even as the finance minister had earlier hailed the paperless office initiatives in the state.