The Chief Minister Pinarayi Vijayan inaugurated the flagship startup festival Huddle Global 2024, organised by Kerala Startup Mission (KSUM) at Kovalam, a popular beach tourism destination near Thiruvananthapuram. The event brings together over 150 investors, 3,000 startups, and around 10,000 participants.
During the inauguration, the Chief Minister outlined Kerala's plans to play a significant role in India’s ambition to become a global hub for deep technology innovation. He announced the state’s Emerging Technology Hub (ETH) initiative, which will focus on five key sectors: food & agriculture, space technology, renewable energy, digital media & entertainment, and healthcare & life sciences.
The ETH will operate as a public-private partnership (PPP) on a 3-acre campus in Technocity, Thiruvananthapuram, with an estimated investment of Rs 350 crore. The Chief Minister called on global investors to consider participating in the initiative, which aims to develop futuristic products in these high-growth sectors.
Pinarayi Vijayan also highlighted the growth of Kerala's startup ecosystem, which now includes more than 6,100 startups, providing over 62,000 jobs and attracting Rs 5,800 crore in investments since 2016. He emphasised the importance of early-stage capital for the success of startups and urged High Net Worth Individuals (HNWIs) in the state to establish Angel Funds, inspired by the Kerala Angel Network and Malabar Angel Network.
The Chief Minister further discussed the state's efforts to foster entrepreneurship through initiatives such as LEAP (Launch, Empower, Accelerate & Prosper) and IEDC (Innovation, Entrepreneurship and Development Centres). He encouraged higher education institutions to set up LEAP Centres, with plans to extend similar models to health and agricultural departments.
Kerala is also moving forward with projects like Freedom Squares, which are intended to become hubs for innovation and entrepreneurship in every district. Additionally, the state is launching an International Market Acceleration Programme (IMAP) to involve the Indian diaspora in scaling local startups globally through investment and mentorship.
Addressing the challenges posed by space constraints for IT and tech startups, the Chief Minister outlined the state’s innovative land pooling model and Work Near Home Centres to ensure sufficient space for growing companies.
The three-day Huddle Global 2024 summit continues at Hotel Leela Raviz, Kovalam, with multiple sessions running concurrently. Global dignitaries at the event include the Consul General of Finland, Erik af Hallstrom, the Consul General of Switzerland, Jonas Brunschwig, and Richard McCallum, CEO of the UK-India Business Council.