THIRUVANANTHAPURAM: The IT sector in the state got a fair share in the budget despite a slowdown in the sector across the globe. The start-up ecosystem also received a shot in the arm with significant budgetary allocation.
K C Chandrasekharan Nair, former chief finance officer of Technopark and advisor of the incubator at IIT Palakkad, told TNIE that the budget will awaken the IT sector in the state.
“There is a good fund allocation, and the minister has given due consideration to the IT and start-up sectors. We thought the IT sector would get only a meagre fund allocation due to financial issues plaguing the state. But, the government gave due consideration to the IT sector, and it will give a big boost to future projects in the sector. As far as the start-up sector is concerned, the fund allocation will help the start-ups grow. For instance, the existing start-up village at Kalamassery is in a growing stage, while the Technocity in Thiruvananthapuram will get a start-up hub,” Nair said.
According to IT experts, this year’s proposals are a continuation of the ample support last year’s budget had extended to the sector. K-FON, an important project of the state government, received a good allocation so as to ensure speedy internet connectivity to each and every household this year itself.
Another significant proposal is a Digital Science Park at Technopark Phase IV that will be opened in May. The park will be a science and technology research hub.
A total of 13.65 acres of land has been identified for Digital Science Park, and 10,000 sq ft of space has been identified on the Technopark campus for the functioning of Digital Science Park until the completion of building construction.
The commencement of the IT park at Kannur is also a giant leap towards IT development in the state.
The Kerala Start-Up Mission has also welcomed the state budget. Anoop P Ambika, CEO, of KSUM, said the budget has earmarked the highest allocation for the Start-up Mission so far.
Fund allocations
E559 cr for IT sector
E100 cr for K-FON
E26.6 cr for Technopark
E35.75 cr for Infopark
E12.83 cr for Cyberpark
E90.52 cr for KSUM