Kerala CM Launches India's Largest Startup Hub In Kochi With A 1,000-Seat Capacity
Kerala Chief Minister Pinarayi Vijayan launched India’s largest startup hub, the ‘Integrated Startup Complex, Maker Village and Bionest’ in Kalamassery, Kochi on January 13, reported The New Indian Express.
The 1000-seat facility is spread across 1.82 lakh sq.ft and is thus significantly larger than the Bhamashah Techno Hub, Jaipur, which has an area of one lakh sq.ft and was previously the largest Indian startup hub. Not only this, it is set to emerge as the world’s biggest technology hub covering an area of 5 lakh sq.ft upon competition and will beat Station-F of Paris which has an area of 3.67 lakh sq.ft.
Built by the Kerala Startup Mission- the nodal agency of Kerala government for entrepreneurship development in Technology Innovation Zone (TIZ), the complex is dedicated to supporting end-to-end startup activities. The complex will house Maker Village; BioNest-a biotechnology startup, BRINC, India’s first International accelerator for Hardware startups; BRIC- an incubator for developing solutions for developing solutions for cancer diagnosis and care; and a centre for excellence built by Companies such as UNITY and CERA.
The TIZ already houses over 100 startups, which have filed for 30 patent applications in the last 12 months and the entire space at the facility has been sold.
Pricing structure and provision of funds
According to officials, the price of a cubicle is about one-third cheaper than other areas. Besides physical space, the government is also providing support to budding startups in terms of public procurement and international exposure, reported Inc42.
The state government has also created a fund which will contribute 50% of the capital raised by any startup and Kerala Finance Corporate provides early risk capital of up to 10-12 lakh based on the innovativeness of the product.
CM Vijayan said that the government is working to increase IT space in the state to 2.3 crore sq.ft. He added that the government plans to give 2.5 lakh direct jobs in IT and is working to ensure that technology promotes social development.
In 2012, Kerala first attempted to build a central space for startups when a startup incubator village, which was among India’s first incubators, was set up in a public-private partnership. It has once again taken the lead and CM Vijayan who also heads the IT department said “For Kerala, this is a proud moment. Once again, the state has become a role model for the country”.