Micro Venture Innovation Fund Mooted in Kerala - The New Indian Express

Micro Venture Innovation Fund Mooted in Kerala

Published: 04th December 2013 08:43 AM

Last Updated: 04th December 2013 08:43 AM

Kerala is handicapped by scarcity of land as well as labour. But will it also emerge as a boon for the state? According to Anil K Gupta, Member, National Innovation Council, time is ripe for  the state to promote innovations and ideas in all fields. ‘’It is a fortuitous, historical movement taking place in Kerala now ,while going in for innovations,’’ he felt and called upon state policy makers to launch a Micro Venture Innovation Fund, wherein an entrepreneur can lead an innovation based venture with ease.

Inaugurating a workshop on ‘Innovation led and Technology -Intensive Entrepreneurship : The Way Ahead for Kerala’ held under the aegis of Kerala Financial Corporation, Anil K Gupta said that an entrepreneur should be able to take forward an innovation comfortably. ‘’The capital needed for a new enterprise should be facilitated through venture funding by just taking the entrepreneur’s single signature, with no guarantors or collaterals,’’ he suggested. ‘’The market and society should provide incentives for innovations to meet its needs,’’he reminded.

He emphasised the need for creating a live database, mapping youngsters’ innovative ideas and 24 x 7 common working facilities including stay in incubation centres. He was also for floating enterprises in the state . ‘’When land is so scarce here, why not think of  companies functioning in houseboats without a permanent address, floating whereever it wanted in Kerala’a +l backwaters,’’he asked.

He was all praise for the Kerala Government for promoting entrepreneurship. ‘’No other state has earmarked 1 per cent of its budget for  the sole purpose,’’he said.  The workshop was organised as part of the diamond jubilee celebrations of KFC. The event became notable for thorough deliberations on innovations and technologies that drives modern-day entrepreneurs, its issues and an understanding on the world of start-ups.  P H Kurien, Principal Secretary, IT & Industries, who delivered the keynote address, said that it is glad to note that Kerala is coming out of an era where for  the past 30-40 years entrepreneurs were always looked upon as those exploiting labourers. ‘’The next ten years is going to make a real change for the state. People’s thinking and acting have changed. Even the pattern of  agricultural crops cultivated in the state is most likely to change,’’ he said, referring to the coming up of orchard plantations replacing crops like rubber in he state.

P Joy Oommen, Chairman & MD, KFC, welcomed the delegates. Jose Cyriac, Chairman, Kerala State Innovation Council, delivered the presidential address. The workshop was attended by 450 professional college students, prospective entrepreneurs and other experts.

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