Promote Inter-state Collaborations Between Startups: Kerala Scale-up Conclave-2024
Kochi, NFAPost: The country must have a system that promotes inter-state collaborations between startups so as to boost the ecosystem, experts said at a milestone event organised by Kerala State Industrial Development Corporation (KSIDC).
There should also be a body focused on timely disbursal of funds to nascent firms, they said at the ‘Kerala Scale-up Conclave-2024’, held as a governmental initiative to enable the state’s startups to enhance their operations.
Even so, companies should comply to the fullest with the rules and regulations to sustain their growth, the speakers noted at a panel discussion as part of the event inaugurated by Industries Minister P Rajeeve.
The conclave, which concluded on Monday evening, was organised to gather views and formulate a vision regarding measures for improving the scale up environment in the State, providing better support to startups to scale up their businesses & facilitating the availing of incentive schemes announced in the new Industrial Policy of the State Government.
Speaking at the event, Telangana Government Innovation & CSR Head Akshita Kanthala exhorted the need for domestic startup join hands.
“India has its startups tuned to go for international tie-ups, which is fine, but these should happen with simultaneous cooperation at the domestic level,” said Telangana Government Innovation & CSR Head Akshita Kanthala.
She made the observation at a session on ‘Suggestions & Strategies for strengthening the Kerala Start-up and Scale up Ecosystem’.
The hour-long roundtable was moderated by Calicut Innovation & Technology Initiative Chairman Ajayan Kavungal Anatthat at the Kerala Technology Expo organised last week.
Andhra Pradesh Innovation Society Joint Director Singamala Sreedhar lauded Kerala’s ecosystem with agile innovation partnership.
“I would like to praise the state’s Genrobotics as a startup that displayed innovation in solving social issues through its most impactful ‘Bandicoot’, which is the world’s first robotic manhole cleaner and seeks to phase out manual scavenging,” said Andhra Pradesh Innovation Society Joint Director Singamala Sreedhar.
Browndove Healthcare Pvt Ltd, Chennai, Director Satya Narayan highlighted the need for building trust during the course of any startup growth journey.
“When you go for a product, ensure there is market as well as margin for it. And do stick to the value system,” said Browndove Healthcare Pvt Ltd, Chennai, Director Satya Narayan .
VARSYA Founder Nitheesh Sundaresan said a flurry of developments in the startup ecosystem merits the formation of an “extended arm” beyond the executive committee for prompt availability of financial resources to companies in the cusp of growth.
“The executive committee meets just once a month and that means a startup needs to wait for some 40 days to get its funding approved. We must speed up this process,” said VARSYA Founder Nitheesh Sundaresan, expressing happiness that startups have expanded beyond IT to domains such as life sciences, climate change and manufacturing.
Navaz Meeran of Kerala Angel Network said startups should plunge into the market without wasting too much of time” over arriving at the finer features of their products.
“Corrections can be made down the course of marketing. The motto should be ‘sail fast’,” said Navaz Meeran of Kerala Angel Network.
Earlier, at a pre-lunch session, Industries & Norka Principal Secretary Suman Billa gave a power-point presentation on Kerala – Opportunities Galore’.
There was also a session named ‘My Journey’ by top ten startup employers in the state, besides success-story presentations by five.
KSIDC Managing Director S Harikishore IAS appreciated the enthusiasm shown by Kerala startups, academia and investors to be part of innovation journey.
“The Kerala Scaleup conclave, enable emerging the companies to network with counterparts, besides policymakers and eco-system enablers,” said KSIDC Managing Director S Harikishore IAS who is also Director of Department of Kerala Industries and Commerce.
Kerala boasts of more than 5,000 startups spread across its 14 districts, traversing sectors including artificial intelligence, SaaS, health-tech, manufacturing and fintech. These startups have raised investments totaling around Rs 3,000 crore from various funding agencies. Many such nascent companies are on the cusp of scaling up.
