Kerala Startup Mission (KSUM) is the primary institution for startup encouragement and development operations in the Indian state of Kerala. KSUM was founded primarily to design, operate, and manage the technology business incubator, an entrepreneur training program in Kerala, to foster innovation-based entrepreneurship and innovation, and to develop the facilities and infrastructure required to maintain high-end tech-based enterprises.
Objectives of KSUM:
- Synchronizing the work of other incubators in the state
- Enhancing the state government’s entrepreneurship growth initiatives
- Fostering knowledge-driven and innovation-based startup enterprises by students, faculty, and small businessmen
- Planning and carrying out industry links and networking activities
- Establishing R&D facilities, supporting the creation of Innovation and Entrepreneurship Development Cells (IEDCs) and technoparks in research universities, and human capital initiatives.
Incubation Strategy
KSUM’s incubation programme assists entrepreneurs in building innovation-based business endeavors, such as companies that sell high-tech goods. The early phases of a startup’s growth are typically separated into three stages:
- Pre-incubation period i.e. 3 to 6 months
- Incubation period i.e., 6 to 12 months
- Acceleration stage
The pre-incubation stage is primarily concerned with the generation of potentially creative ideas. Startup enterprises begin business development and marketing preparation during the incubation period. KSUM offers flexible space, appropriate grants or money, and business mentorship. In addition, they provide entrepreneur workshops and training.
KSUM provides a business toolbox and a business advising service, similar to typical management consulting or mentorship, throughout the accelerator stage. KSUM will help the startup present to both capitalists and investors.
EY – KSUM Collaboration
- KSUM has teamed with Ernst & Young to create a Business & Technology Accelerator at the KINFRA Cinema & Video Park in Thiruvananthapuram, giving fully furnished and functioning office space of 1500 sq. ft.
- The goal is to provide technological and commercial leadership and mentorship to chosen startups incubated in Kerala.
- Startups are granted a six-month acceleration programme (fully adjustable to a year) to help chosen entrepreneurs improve their business expertise and abilities.
- Mentorship help is provided in all business and technology aspects, including corporate strategy, economics, human capital, investment ideas, emerging technological trends, and market analysis.
- The accelerator programme will also help startups network with industry leaders, angel investors, and venture capital firms.
Kerala Startup Mission (KSUM), the state government’s central body for entrepreneurial promotion and fostering, has been designated one of the world’s leading five Public/Private Entrepreneurial Ventures in the 6th iteration of the World Benchmark Study.
Who conducted the research?
UBI Global, a Stockholm-based innovation intelligence firm and community recognised for assessing and visualizing business incubators and accelerators, conducted the research. 21 key Indicators were analysed, and these performance metrics reflected the value these incubators contributed to three aspects. One is the value to the ecosystem. This category evaluates the economic effect and success of programmes such as Startup Mission and its customer and alumni startups, such as the number of employment and revenue generated. It also evaluates these incubators’ performance in maintaining human capital and companies in the ecosystem.
