KSUM's Provides Innovation Grants Worth Rs 25 Crore to Startups

The state-led Kerala Startup Mission (KSUM) has provided more than Rs 25 crore in innovation grants to a wide range of technology and product startups since 2017, a robust ecosystem that enables a variety of ventures to thrive.

Innovation grants serve as the first tranche of Seed Capital, a Kerala product startup, aimed at incorporating innovative technology ideas and turning them into full-fledged businesses.

According to the official statement, over the past five years, KSUM has raised over 8,000 innovative ideas from tech startups, including student startups. Among them, 2,000 startups made a final sale on 23 Idea Days, and a total of 550 innovations were awarded the KSUM innovation grants.

Kerala supports technology startups with an innovation grant worth Rs 30 lakh along with seed loans worth Rs 15 lakh. According to the statement, the innovation grant will be increased along with KSUM's FFS (Fail Fast or Succeed) incubation scheme to improve results.

KSUM is the central body of the Kerala State Government for entrepreneurship development and incubation activities within the state.