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Kerala govt inaugurates Digital Hub

Monday, 20 Sep 2021
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Chief Minister of Kerala Pinarayi Vijayan inaugurated Digital Hub with a capacity to support 200 start-ups via video conferencing on 19 September 2021. The project is completed at Kalamassery in Ernakulam district.

The Integrated Start-up Complex, India's largest incubation facility, was set up two years ago in the Technology Innovation Zone.

At that time its capacity was two lakh sq ft. Along with this, a digital hub with a capacity of two lakh sq ft also is getting operational. Thus the facilities here have grown to a total of four lakh square feet. With this, the technology innovation zone is becoming the largest start-up space in Southeast Asia.

The Kerala Bank, the Kerala State Industrial Development Corporation (KSIDC), the Kerala Finance Corporation (KFC) and Kerala State Financial Enterprises (KSFE) have jointly proposed to set up a venture capital fund of Rs 250 crore to promote start-ups. If any start-ups attract investment from outside, matching investment will be made from this fund.

Similarly, loans up to Rs one crore without collateral security will be made available for the expansion of start-ups which will help the government achieve its development goals in other sectors.

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