Scheme

Rent Subsidy

Kerala Startup Mission (KSUM) supports startups in the scale-up stage showing an exceptional performance by providing rental support for their infrastructure built-up space in the Government parks or locations owned or leased by Government agencies. This is provided as a reimbursement of a portion or rent paid as a subsidy for a limited period.

Government of Kerala vide G.O (Rt) No. 133/2018/ITD dated 21.05.2018 released an order for the above and accorded sanction to KSUM for implementing the rent subsidy scheme to startups based on predefined eligibility. The subsidizing would be in terms of reimbursing part of the rent (a maximum of 50% or Rs.20/sq.ft), whichever is lower and this would be subjected to the growth shown by the startup.

Process of Scheme

STEP 1Application & Shortlisting Process STEP 2Disbursement Process

Application Process

1. Online Applications through KSUM portal

2. All documents can be uploaded to the websites and would require submitting the originals of the following Invoices and receipts for rental payments made in actuals (in Originals) Bank Transfer Statement verified by Bank Manager.

3. Submission of Originals (courier to KSUM/ submit to any KSUM Locations)

4. One to One Call with KSUM Team for initial evaluation.

5. Confirmation on completeness of documents and initiate file processing

6. Money Disbursements to your accounts

We regret to inform you that the application process is temporarily closed. It will resume on the 30th of July, 2023. If you would like to be notified once the application reopens, please kindly fill out the form below.

Form: https://forms.gle/vc5vEGUpaPCVQZYS9

Eligibility Criteria

Rent Subsidies will be extended only to product startup companies at scale-up space. The company should be registered as a startup and should have DIPP startup registration to avail this benefit of rent subsidy.
The company should be operational in Kerala and shall have at least 70% of employees with Kerala domicile.
The company should have at least 10 employees and of which, 70% of them shall be from Kerala.
The company should have annual revenue of at least Rs.50 Lakhs or should have received equity funding of at least Rs.150 Lakhs from external sources.
The maximum area eligible for a company will be 10000 sq. ft or 70 sq. ft/employee whichever is less.
The rent subsidy will be available for companies operating in Government Parks or any other locations owned or leased by Govt. agencies.
The spaces by startups, for which the rent subsidies are already in place are may not apply for the scheme

Extent of Support

The support is extended to only startups in the scale-up stage, and limited to the following:
1. The maximum period of assistance is 3years and the subsidy will be given to companies that show a year on year growth in revenue of at least 50%.
2. The assistance will be given only during the period in which the company continues as a startup and meets all regulatory compliances.
3. Companies who have dues pending against them from any of the Government agencies will not be eligible for the subsidy.
4. The rent subsidy will be given only as a reimbursement to the company, after making actual payment of rent to the Government Park concerned

Benefits of Scheme

The subsidizing would be in terms of reimbursing part of the rent (a maximum of 50% or Rs.20/sq.ft), whichever is lower and this would be subjected to the growth shown by the startup.

Outcome of Scheme

Reduce the cost of operations for the startups