The allocation of ₹517.64 crore for the IT sector in the State Budget is expected to impart a further momentum to the State’s robust innovation ecosystem, say IT experts.
The proposals to develop Global Capability Centres (GCCs) and promote fintech enterprises will open up new opportunities for start-ups, says Anoop Ambika, CEO, Kerala Start-up Mission (KSUM).
The proposals align well with the State’s transition into a knowledge-based economy, a remarkable journey in which the innovation ecosystem is expected to contribute immensely, he said.
As pivotal drivers of the future for high-value operations relating to diverse verticals, he said GCCs will throw up challenging opportunities to tech-driven start-ups to capitalise on the huge potential offered by Research & Development, Advanced Analytics, Product Management and digital transformation.
Devan Chandrasekharan, the founder of Fuselage Innovations since the company specialises in manufacturing drones that assist farmers, the budgetary allocations are likely to support the adoption of agricultural drones, making farming more efficient and sustainable.
Jijimon Chandran, founder and CEO, Acsi Technologies said that the budget reflects Kerala’s commitment to building a high-value digital economy with strategic support for AI, fintech, and IT corridor expansion. The initiatives to strengthen Global Capability Centres and transform Thiruvananthapuram into a global hub for automotive technology hub will create new opportunities for talent, and global investments. “Certainly, the proposals are forward-thinking approach to strengthening the State’s technology ecosystem”, he said.