Kerala CM unveils Emerging Tech Hub initiative at Huddle 2024

Thiruvananthapuram: Chief Minister Pinarayi Vijayan unveiled Kerala’s ambitious Emerging Tech Hub (ETH) initiative at the sixth edition of Huddle Global 2024 on Thursday. The three-day event is organised by the Kerala Startup Mission (KSUM) at beach tourism hub Kovalam.

The chief minister presented the details of the ETH initiative, promising big investment opportunities in five high-growth domains. The ETH initiative is envisaged as a futuristic product development hub focusing on food and agriculture, space technology, renewable energy, digital media, entertainment, and health and life sciences. The goal is to position the state as a potential key player in India’s pursuit of becoming the deep tech capital of the world, CM said.

“ETH is envisioned as a PPP company on a three-acre campus in Technocity, Thiruvananthapuram, at an estimated cost of Rs 350 crore, and I urge investors and enterprises across the globe to seriously consider investing in this new company, which will work on path-breaking and futuristic products in the identified sectors,” he said.

Prior to his inaugural address, Chief Minister Vijayan interacted with startups and investors at the event. Tracing the impressive journey of the state’s startup ecosystem, he said the state now has more than 6,100 startups, providing more than 62,000 employment opportunities, generating Rs 5,800 crore as investments.

He urged the high-net-worth individuals in each district to come together and create Angel Funds, following the examples of the Kerala Angel Network and the Malabar Angel Network. He highlighted the need for early-stage capital for the startup ecosystem to thrive.

He emphasised that Entrepreneurship and innovation development initiatives like LEAP  (Launch, Empower, Accelerate & Prosper) and IEDC have enabled aspiring entrepreneurs from all over the state to set up startups close to their homes or educational institutions. He encouraged all higher education institutions to set up LEAP Centers.

He hailed the Department of Higher Education’s recent directive asking all institutions under it to set up IEDCs (Innovation, Entrepreneurship, and Development Centers), adding that this model will be replicated in the educational and research institutions that operate under the health and agricultural department. Also, the Freedom Squares initiative is set to become the epicentre of innovation and entrepreneurship in every district, he added.

Chief Minister Vijayan revealed that the Kerala Startup Mission has been selected as one of the project management units of the 200 Million Dollar Kera Project, which is funded by the World Bank. The state is setting up an International Market Acceleration Programme (IMAP) where the Indian diaspora can participate in the global scale-up of local Startups through investment, mentorship and business development, he said. 

The chief minister added that the state is also embarking on an ambitious project that blends technology and tourism. In the upcoming Invest Kerala Global Summit, an Investment Pitch Session will be dedicated to startups. 

Inaugural event
At the inaugural event, KSUM exchanged MoUs with Adesso Startup Infinity, ARAI, AICTE, E2E, HDFC Bank and Startup Infinity USA and Letter of Intent with British Council.

Sarada Muraleedharan, Chief Secretary of Kerala Government; Dr Rathan U Kelkar, Secretary of Electronics & Information Technology and Environment Department; S D Shibulal, co-founder of Infosys and Vice Chairman of the High Power IT Committee, Government of Kerala; and NABARD Chairman Shaji K V were among the key dignitaries at the inaugural session.

The three-day event at Hotel Leela Raviz, Kovalam, is packed with deliberations, presentations and engaging conversations. Around 300 women entrepreneurs are attending the event, showcasing the state’s fast-growing startup ecosystem. The annual event offers a stage to leverage immense opportunities, including raising funds, scaling up business, and bolstering the global connect.