The Indian government has allocated $24 mn to support Startup Village, the Kochi based public private startup incubator. The incubator, a public-private partnership, will receive Rs 75 cr to set up infrastructure, according to a new report.
The incubator is building 5 lakh sq ft building to incubate 1,000 product startups in a few years, said the report. The incubator, is currently incubating 400 startups, 350 of which are virtual incubators, its Chairman Sanjay Vijaykumar told Techcircle which reported the development.
The Kerala Startup Village was setup in April 2012 as a public private partnership between Department of Science and Technology, Government of India; Technopark, Trivandrum and technology firm MobME Wireless.
Earlier this month, Kerala Chief Minister Oommen Chandy said that the government will earmark about Rs 500 cr as budgetary assistance to entrepreneurs for their ventures.
Market regulator SEBI has approved a $10 mn angel fund being floated by Kerala based telecom incubator Startup village. The Startup Village angel fund could go up to $20 mn.
The Kerala government had also announced a student entrepreneurship policy under which 20% grace attendance and 4% grace marks would be given to students who start a venture. Kerala celebrated September 12 as entrepreneurship day.
While infrastructure is a key parameter, we don’t think it plays a big role in a startup’s life. In places like Kochi, Kerala, lack of mentors & top talent is probably an important challenge. What are your thoughts?