The Government plans to strengthen partnerships between academic institutions and industrial establishments in Kerala as part of the policy to promote entrepreneurship and give start-ups a leg-up, P. Rajeeve, Industries Minister, said while inaugurating IEDC, Asia’s largest conclave for aspiring student entrepreneurs.

Around 6,000 delegates from various educational institutions participated in the Innovation and Entrepreneurship Development Centres Summit, organised by the Kerala Startup Mission (KSUM) in association with the Rajagiri School of Engineering & Technology (RSET) at Kakkanad.

‘Unravelling Dimensions Uniting Perspectives’ is the theme of the summit, aimed at bringing together innovations from various domains.

“Educational institutions should have the capacity to provide answers to the problems faced by industries. And, on the other hand, industries should leverage the outcome of research conducted by educational institutions to increase production,” Rajeeve said.

Kerala has one of the best ecosystems for start-ups in South Asia, and the Integrated Startup Complex in Kalamassery is an example of an institution helping start-ups. Bank credit extended to MSMEs in the state in the past 10 months stood at Rs 50,000 crore, which is Rs 10,000 crore more than that in the last financial year, the minister said.

Anoop Ambika, CEO, KSUM, said as part of the IEDC project, the target is to produce at least one entrepreneur from each college in the State.

Currently, Kerala has about 425 IEDCs in educational institutions, which will be provided guidance by KSUM, the state’s nodal agency for promotion of innovation and entrepreneurship under the government’s Department of Electronics and IT, he said.

“Several products imported into the country are actually made of raw materials exported from Kerala. Goods made of latex are an example. Now, we are coming out with a project for universities, to encourage them to make products here itself and tap the large domestic market,“ he said.

Kochousep Chittilappily, founder and Chairman, V-Guard Industries, said it is reported that 90 of every 100 start-ups in India have closed down. Though there will be financial challenges, start-up entrepreneurs should be determined to turn their ventures into success stories.

The IEDC Summit brings together innovative student entrepreneurs from across the continent to share their ideas, experiences, and knowledge. The summit is an amalgamation of events from a range of domains, including technology, entrepreneurship and skill development. It serves as a platform to connect student innovators, industry leaders and start-ups, in addition to providing them an opportunity to engage and network.

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