THIRUVANANTHAPURAM : The work on the proposed emerging technology start-up hub at Technopark Phase IV (Technocity) in the capital is likely to start in May, and it is expected to be completed by the first quarter of 2026.
With the state budget allocating Rs 20 crore for the technology innovation zone in Kochi, a part of the amount will be utilised for the preliminary works on the emerging technology hub as well, sources said.
At present, the strategic consultant of the project is conducting a study, and the project report will be submitted to the Kerala Start-Up Mission (KSUM) by the end of the month.
The study will include suggestions put forth by technology experts as the hub is envisaged as a centre for developing futuristic technologies.
The tender for the construction of the project will be finalised soon so that the construction of the hub can begin by May. The selection of a project management consultant will be done this month. The consultant will prepare a detailed project report on the design and construction of the hub. The report is expected to be submitted in April.
Ashok Kurian Panjikkaran, business head, KSUM, told TNIE that the KSUM is seeking suggestions from experts which will be included in the project report. “We expect the strategic consultant to submit the report by the end of this month. After reviewing the report, we will submit it to the government for approval. Once it is approved, we will start mobilising funds for the project through public-private partnerships and funds from the state and Centre. The initial proceedings of the project are nearing completion, and we expect to start the construction of the hub by May,” he said.
The proposed hub will focus on advanced technologies, including Open AI, generative AI, and machine learning, which could be the big thing in the next 10 years.
As per the current design, there will be eight floors for the hub. It will have a 5 lakh sq ft building that will come up on three acres of land on Technocity campus at Pallipuram. The building can accommodate around 1,000 startups, with construction costs totalling Rs 145 crore.