Kerala’s start-up ecosystem has experienced a 20% increase in registrations, now boasting over 3,500 active ventures across diverse sectors. This growth highlights the State’s rising status as a hub for innovation, according to Vinod Manjila, Chairman of CII Kerala.
Kerala has been recognized as the best performer in the fourth edition of the States’ Start-up Ranking (2022) by the Union Ministry of Commerce and Industry, retaining its top performer status from the previous three editions, noted Vinod Manjila, Chairman of CII Kerala.
He highlighted that the State’s start-up ecosystem is rapidly reshaping its industrial landscape, laying the foundation for future industries that will drive economic growth and generate significant employment opportunities, particularly for the educated youth.
As India marks nine years of the Startup India initiative on January 16, the country has grown from just 400 startups in 2016 to over 1,70,000 recognized start-ups today. This remarkable progress showcases India’s potential as a global innovation leader. Manjila added that the Start-up India program aligns closely with the vision of Viksit Bharat @ 2047, the Prime Minister’s goal to transform India into a developed nation by 2047.
The growth of startups has significantly accelerated digital transformation across industries. With the increasing adoption of digital tools and platforms, Kerala-based start-ups are driving the development of future industries by fostering technological innovation, promoting sustainability, and diversifying the economy. Focused on key sectors such as health tech, agri-tech, fintech, edtech, and renewable energy, these start-ups are revolutionizing traditional industries, advancing green technologies, and enhancing accessibility through innovative digital solutions.
The CII Chairman highlighted that the government’s forward-thinking policies, which simplify regulations and provide additional resources, are driving the expansion of Kerala’s startup ecosystem toward even more significant growth.
He added that CII Kerala has played a pivotal role in nurturing entrepreneurship and innovation, mainly through its startup panel and various sector-specific initiatives.
