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KSIDC strengthens Kerala’s startup ecosystem through financial aid and strategic initiatives

Byadmin

Jul 10, 2024


KSIDC is rolling out seed fund assistance and scaling up support for startup growth. As part of seed fund assistance, KSIDC offers financial support of up to Rs 25 lakhs to young entrepreneurs, including students, to kickstart their innovative and commercially viable ventures. The scheme provides loans at an interest rate of 6.75 percent per annum for four years. 

KSIDC is currently prioritising its ‘Scale-up Support’ scheme, aiming to provide substantial funding of up to Rs. 1 crore to startups in the financial year 2024–25. In collaboration with the Kerala Startup Mission (KSUM), KSIDC recently organised a conclave to gather insights and recommendations for further strengthening the state’s startup ecosystem.

As per data from the Department for Promotion of Industry and Internal Trade (DPIIT), Kerala currently boasts 5522 startups, attracting a total investment of Rs. 5500 crore and generating over 55000 jobs.

By admin