KSUM-Incubation

Kerala Startup Mission (KSUM) is designed to provide a springboard to budding entrepreneurs who wish to launch themselves into the world of technology based business careers. Entrepreneurs’ bright ideas to develop a product or service using advanced technology solutions can find a fertile ground in Kerala Startup Mission. KSUM is designed to provide entrepreneurs all the support to make technology based business ventures successful. The highly innovative and productive environment of KSUM provides entrepreneurs the right ambiance to build up technology ventures at international standards. KSUM is restricted to high tech startups with technology products and innovations with in a limited time frame that literraly makes the entrepreneur to seriously work on his product idea and boost him to come up with a ‘Market viable prototype.

Incubation Procedure PDF

Objectives

The objective of the accelerator program is to offer technology and business thought leadership and mentorship support that can aid in the development of the selected start-ups incubated in the state of Kerala through a 6 month acceleration ( extendable by 6 more months) program to facilitate business sophistication and skill enhancement of the selected entrepreneurs. The program would encompass mentorship support in all areas of business and technology including Business strategy, Finance, HR, investment proposals, emerging technology trends, market research etc.The accelerator program will also support entrepreneurs to network with industry captains, angels, venture capitalists etc.


Process

The selection of Entrepreneurs to the accelerator would be based on the recommendation of the expert committee.

  • Selection Process: The selection process to the accelerator would be done through an application process. An application has to be submitted to the centre along with the organization’s profile, ownership details and audited annual reports.
  • Post admission process: The expert committee selects a list of Entrepreneurs to be admitted to the accelerator. Key people from the selected organization would be requested to work out of the accelerator. The accelerator would draw up a mentorship plan comprising of both technology and business which would be shared with the entrepreneurs for mutual agreement.
  • Semi-annual review: Two formal performance reviews of each company at the centre are required. The expert committee gauges the progress of the company against its objectives. The expert committee also evaluates the impact of the mentorship and technology support provided by the centre. Any further assistance in the form of mentors, consultants etc required by the entrepreneur is identified during this review.
  • Duration of the acceleration program: The duration to operate at the accelerator shall be for a term of 6 months. An extension of one more term of 6 months shall be considered on a case-by-case basis based on the recommendation of the expert committee.

Early Stage Funding

Govenrment of Kerala provides Early stage seed funding support to emerging startups through Kerala Startup Mission and Kerala State Industries Develpment Corportartion.

The seed funding was given to the startups from 2006, that time the process was not online and there were delays in the execution. Later on Sep 2015 Kerala Startup Mission launched its online portal and the applications are received online. Then onwards the frequency in executing the seed fund has increased.

Kerala Startup Mission is providing seed support to the startups in the ecosystem by a review mechanism.

The startups in the Kerala Ecosystem has to register via website and the link is as follows
Register with Startup Ecosystem

The startup who are registered in the website can directly send the requirement of seed fund to surya4500001@kerala.gov.in

The application will be verified in the portal on the credibility of particular startup and then they will be taken to the expert panel, which is a review meeting for releasing the seed fund. There is monthly review meeting for releasing the seed fund to the startups.

The list of startups who have availed seed fund in the FY 2016-17 are given here.

The list of fund disbursed by Kerala State Industries Development Corporation (KSIDC) is also given here.

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