Government-partnered funding system for startups proposed

State IT Secretary M Sivasankar proposed the setting up of a government-partnered funding system for startups, including a virtual platform where entrepreneurs can network with investors etc.

Published: 18th June 2017 06:13 AM  |   Last Updated: 18th June 2017 06:13 AM   |  A+A-

By Express News Service

KOCHI: State IT Secretary M Sivasankar on Saturday proposed the setting up of a government-partnered funding system for startups, including a virtual platform where entrepreneurs can network with investors, find seed funding and market their products, to create a vibrant startup ecosystem in the state.

Addressing the gathering on the opening day of the ‘Seeding Kerala-2’ meet organised by the Kerala Startup Mission (KSUM) at Rajagiri School of Engineering and Technology here, he said the virtual platform would help young entrepreneurs tackle one of the most difficult aspects of building a startup.

“With more number of youngsters coming up with bright ideas, a virtual platform for seed funding would be ideal as finding investments to raise the business is the most challenging part. This platform can even be used for one-on-one meetings for business purposes and get more traction for the products,” Sivasankar said.

KSUM CEO Saji Gopinath said a funding system at government level for startups will be a pioneering initiative in the country.

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