More youth in Kerala prefer to start their own businesses as latest data with the industries department reveals that around 80,000 new enterprises have started functioning in the state in the last seven months.
Ever since the state gave impetus to entrepreneurship culture and set up Startup Village at Kalamassery in 2012, more graduates have come forward to launch their own businesses in different sectors.
Industries Minister P Rajeev at an official function on Saturday said 80,000 new ventures have been registered in Kerala in the last seven months compared to an average of 10,000 being registered every year earlier. “The new ventures could attract an investment of Rs 5,000 crore and create 1.80 lakh job opportunities,” he added.
According to Keyoor Purani, Professor of Marketing and Executive Director of IIMK LIVE, a business Incubator and Entrepreneurship Development Centre of IIM Kozhikode, since the Start-up village in 2012, Kerala seems to be waking up to the fact that it has to focus on this new economic revolution, the start-up economy.
“If Kerala decides to focus on entrepreneurship as the driver of economic development, it must channelize efforts to build an ‘entrepreneurship ecosystem’. The state has been among the first ones to have its own start-up policy and since then several initiatives to build the start-up ecosystem in the state have gathered momentum,” he wrote in an article.
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