THIRUVANANTHAPURAM: The Kerala Financial Corporation (KFC) will organise ‘Startup Conclave 2024’ in Thiruvananthapuram on Thursday to bring together entrepreneurs, investors, industry leaders, and government officials to network, share ideas, and explore opportunities.
The event, which will be inaugurated by Finance Minister K N Balagopal at Hyatt Regency, will also showcase innovative startups funded by the KFC, said an official release.
KFC Startup Kerala, a flagship initiative of the KFC, provides comprehensive support to promising startups at all stages.
The scheme offers attractive interest rates, collateral-free loans and flexible funding options to meet the diverse needs of emerging businesses. So far, it empowered 61 technology-based startups with a total of `78.52 crore in loans.
The organisation aims to assist at least 100 startups this year. General Education Minister V Sivankutty, KFC chairman and MD Sanjay Kaul and representatives from government agencies and industry associations will address the conclave.
It will also feature the KFC Startup Awards Ceremony, the release of KFC’s Annual Report for FY 2023-24 and handing over dividend cheque to the government.
Increase in net profit
Over the past three financial years, KFC’s net profit surged by 957.14% (from Rs 6.58 crore to Rs 74.04 crore), reflecting effective strategies and strong financial management, the release said. The loan portfolio expanded from Rs 4,621.12 crore to Rs 7,368.32 crore.
KFC’s commitment to financial responsibility is evident in the improved asset quality (gross NPA: 2.88%, net NPA: 0.68%) and the `57.81 crore dividend declared to the state government.
These achievements underscore KFC’s role as a leading financial institution in Kerala, dedicated to empowering MSMEs and driving economic growth.