The Hindu Business Line : Venture fund likely to be launched for Kerala entrepreneurs

FOR potential entrepreneurs in Kerala, the search for start-up funding may soon get easier if a proposal by Kerala Global Support Network to start a `seed venture fund' takes off.

According to Mr Arun Kumar of Kerala Global Support Network (KGSN), a fund to help budding entrepreneurs get started is consistent with the network's objective of fostering entrepreneurship in Kerala. The idea is to create a sort of social venture fund that fosters entrepreneurship and development in Kerala.

While the details are still being worked out, it is likely to be launched under the aegis of the Kerala chapter of The Indus Entrepreneurs (TiE), he added.

For potential entrepreneurs in Kerala, it is most often a struggle to find the funding required to start operations, said Mr C. Balagopal, a member of both KGSN and TiE-Kerala. The proposed venture fund will help reverse this situation, he added.

Set up around two years ago, KGSN is intended to function as a resource for Kerala, he explained. The network's members include entrepreneurs, academics and senior executives at global companies, all brought together by a common interest in Kerala. Besides, nurturing entrepreneurship in Kerala, the group is also working to improve the State's education system. It has, in partnership with the American India Foundation, invested $1,00,000 in a `digital equalisation' initiative in Kerala, he said. Through this programme, 10 government-run schools in Thiruvananthapuram have been given computers and Internet access. In addition, this programme also supports computer training for teachers in government-run schools.

KGSN now plans to extend this to schools in other parts of the State, Mr Arun Kumar added.

In higher education, KGSN is hoping to build links between institutions in Kerala and institutions of higher education in other parts of the world, he said. The network is also working to encourage the flow of ideas into Kerala and to generate a discussion about development strategies the State needs to adopt.