Kerala Startup Mission (KSUM)
Kerala Startup Mission (KSUM)
Over the years, the Government of Kerala has taken various measures to create a vibrant startup ecosystem in the state primarily to foster the growth of innovation lead technology entrepreneurship. One of the precursors of these initiatives has been the Kerala Startup Mission (KSUM) which has been instrumental in developing the entrepreneurship culture at a student level. This startup mission covers every point of the startups starting from capacity development, infrastructure development, funding and industry association. To create awareness for being an entrepreneur, Kerala Startup Mission initiated its activities by providing various schemes which touch youngsters from academia. In this article, we will look at Kerala Startup Mission (KSUM) schemes in detail.
Know more about Startup India Action Plan 2016
Objective of Kerala Startup Mission
The primary goals of Kerala Startup Mission are listed below:
- To increase R&D intensity
- To Stimulation of climate and culture innovation
- Commercialisation of technology
- For fostering the growth of an entrepreneurial ecosystem
- For reducing the entry barriers
- To create innovation infrastructures such as technology transfer labs, science hubs and business incubators
- To encourage the uptake of strategic technologies among SMEs
- To improve access to pre-commercialization funding
- To provide tax incentives such as R&D tax credits and favourable capital cost allowance
- To promote traditional industries using new techniques
- The eligibility criteria to register Kerala Startup Mission are given here:
- A student studying in Kerala
- An innovator based out of Kerala
- A startup registered in Kerala
Eligibility Criteria – Startup
According to KSUM policy, the startup means an entity, incorporated or registered in India. Any startup looking for incubation and assistance under Kerala startup mission should meet the following eligibility criteria.
- Startups registered before seven years or Biotechnology Startups registered not before ten years is not eligible.
- Startups annual turnover should not exceed Rs.25 Crore in any preceding financial year,
- The startup should be focused on innovation, development or improvement of products or processes or services,
- A scalable business model with a high potential for employment generation or wealth creation.
- Startups will be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, set up for such purpose.
- Kerala Startup Mission will give the membership to the companies who are registered within the sate
- KSUM also provide pre-incubation facilities to startups who are in the ideation stage
Know more about KESRU – Kerala Self Employment Scheme
Kerala Startup Mission Schemes
Kerala Startup Mission (KSUM) has been actively commencing various programmes for developing the student Entrepreneurship. Kerala Government declared the ‘startup policy’ with an aim to accelerate the growth of student Entrepreneurs.
Kerala Startup Mission being the nodal agency for implementing the Startup policy has come up with various schemes for the effective implementation of the start-up policy. The start-up schemes cover all broad areas from schools, colleges and young entrepreneurs.
- Incubation / Acceleration Scheme
- Knowledge/ Skill Enhancement Schemes
- Funding Schemes
- Exchanges and Global Immersion Schemes
Incubation / Acceleration Scheme
Kerala Startup Mission (KSUM) in partnership with Global Incubators and Accelerators introduced its new structured incubation program designed to provide a springboard to budding entrepreneurs in building scalable technology products and solutions.
- The new Incubation schemes are ongoing in Trivandrum, Kochi, Calicut and Kasargod.
- The startup founders can easily access the Sector Experts and Business Mentors; Tailor made workshops, Industry and Investor networks of KSUM circles
- Under this scheme, startup founders are eligible for a variety of state and central Government schemes and grants.
Startups will go through a stage based structured three-month program under Incubation / Acceleration Scheme:
- Idea Acceleration – Idea to Concept
- Product Acceleration – Concept to Launch
- Market Acceleration – Launch to Revenue
Support Services to Entrepreneur
Under Incubation / Acceleration Scheme, KSUM provides support for services to startups in legal and statutory compliances.
- Secretarial Services (Company Incorporation and filing)
- Annual Accounts Preparation
- Preparation of Audited statements (Utilization Certificate & Statement of Expenditure)
- Taxation Services (Registration/ Filing/Updating)
- EXIM/TAN/PAN/SEZ services
- Financial Plan & Projections
- Legal, IP & Client Agreements
- The patent, Trademarks & Copyrights
- Business Valuation & Investment Pattern
- Notary Services
Marketing support to startups
Under this scheme, startups will be supported for the following activities:
- Digital and Print Media Branding and Promotions
- Product Launch Coverage
- Corporate and Product Promo Video Production
- PR Activities including advertisements for products and startup story
- Digital Marketing Consultation, Agency Charges, DM Tools and Analytics Platform subscription
- Accessor Subscription to Digital Marketing Tools – Email, Social Media Content Marketing, Insights, Analytics and SEO
- Digital Marketing- AR and VR experiencing Platforms
Support for R & D connect
This support will be provided for those startups that are developing technology innovations or products and those who are in the R & D Stage. This is onetime assistance given to hardware (electronic and other hardware) manufacturing startups that have substantial R&D component.
The grant will be given to startups under the following conditions
- Startup should have a working prototype of the product
- The product should have substantial hardware components such that at least 50% of the cost will be for the hardware
- The Startup must be a member of one of the approved incubators in the State
- The grant can be used for sourcing hardware components, technology transfer, testing, testing platform creation etc. The grant cannot be used for meeting the manpower cost.
- The applicant shall give a clear business plan justifying the use of funds. If the fund is used for marketing expenses, such expenses cannot exceed 20% of the grant amount
- The startups who are scaling up a product or who are working on a product that has obtained a patent will be given preference.
Mentorship or Connect Programmes
The Mentorship or Connect Programme is an extension of the Startup Leadership Academy and Training Programme, where the startups may be nurtured by renowned mentors of national and international standards. The programme also proposes to get the startups
Knowledge/ Skill Enhancement Scheme
The knowledge or skill enhancement scheme of KSUM contains the following features :
Future Technologies Lab
Future Technologies Lab is an initiative by Kerala Startup Mission (KSUM) to provide necessary tools, equipment and infrastructure for the Research & Development (R&D) of emerging technologies and serves as a platform to introduce it to startups and students. T
The crucial current focus areas of Future Technologies Lab are given here:
- Virtual Reality (VR)
- Augmented Reality (AR)
- Artificial Intelligence (AI)
- Brain-Computer Interface (BCI)
- Major Activities at Future Technologies Lab
- The primary activities at future technologies lab are explained in detail below:
- Junior Fellowship Program
- Lab Facilities
FAB LAB Programme
The FABLAB programme involves setting up state-of-the-art Fabrication laboratories in the state to encourage startups in printed electronics and other such fields. KSUM has associated with Centre for Bits and Atoms, MIT Fab Lab Foundation, the USA for this. The FAB labs being established in Trivandrum and Ernakulam are identical and mainly comprises of the following inventories.
- Laser Cutter
- Large Scale CNC Mill: Shopbot
- 3D printers: Dimension SST 3D printer and Ultimaker 2
- High-Resolution Mini NC Mill: Models
- Vinyl Plotter
- Sand Blaster
- Electronic Components and Tools
- Moulding and Casting
- Electronics Test Equipments
Start-up-Leadership Academy and Training Programme
Through the leadership academy, students of the state will have the opportunity to directly interact with foremost Subject Matter Experts from around the world. The students will have the opportunity to interact directly with the industrial and entrepreneurial world.
Kerala startup mission provide funds to startup under the following schemes
Technological changes through innovations and R&D has been the main driving force for increased productivity, economic growth, and social transformation and for reshaping and redefining every sphere of our lives. Hence innovations are being extensively promoted globally. The government of Kerala has introduced the Scheme, Innovation Grant and the following types of Innovation Grants are given to encourage innovations.
- Idea Grant
- Productisation Grant/ Scale-up grant
This Grant will be primarily for conversion of an idea to prototype, and the grant is limited to Rs. 2 lakh/ per idea. These are generally given to students, through an IEDC/ Incubator.
This grant is provided to people who received idea grant as well as for others who have a working prototype available with them. The grant is limited to Rs. 5 lakhs
Scale –Up Grant
People who have an MVP to develop initial market could use this grant, the grant amount is limited to Rs. 5 lakhs
Early stage KSUM Seed Fund
The government of Kerala has introduced the Seed Support scheme to provide financial assistance to startups to foster the formation and development of innovative, technology-based business enterprises that will stimulate the economy of Kerala through venture creations, increased employment and leveraging of private investment.
The Seed Support System primarily supports the startups in the following areas:
- Product Development
- Testing & Trials
- Test Marketing
- Professional consultancy (To attract professionals from leading industry organisations and academicians from reputed educational institutions to work with small firms)
- IPR Issues
- Manpower for day to day operations
Early stage Equity Funding
KSUM is partnering with SEBI accredited Venture Capital Funds for the creation of corpus fund for supporting the emerging startups in the state. The Funds shall be investing in early-stage startups with a ticket size of Rs. 25 lakhs to Rs. 200 lakhs.
- Startups registered in Kerala
- Startups at early stage or Startups have a product
- Technology-based product startup from different sectors
- Startups from PAN India and already registered in Kerala
Patent Support System
Under the patent support system, Government of Kerala provides supports to student entrepreneurs who can secure a patent.
- Grant to 5O student entrepreneurs in the state, securing the patent
- Interest subsidy for five years for loans availed from any bank for implementation of a project based on the patent
- Educational assistance up to Rs. Three lakhs per year for continuing postgraduate studies or research for three years.
Exchanges and Global Immersion Scheme
The International Entrepreneurship Exchange Programme is a combination of schemes aimed at giving the students and young Entrepreneurs of the State maximum exposure to the international startup ecosystems and also to foster cooperation between startup ecosystems across the world.
- The programme involves taking a student and young entrepreneurs to the most advanced, mature startup destinations, such as the Silicon Valley, Menlopark, USA, London, Tokyo, Tel Aviv, etc. for an exchange programme where they interact with the startups in that ecosystem.
- This will enhance marketing or funding opportunities for the local startups and also give an International exposure for their products.
Kerala Startup Mission (KSUM) Scheme Application Procedure
The procedure for applying Kerala Startup Mission (KSUM) Scheme is explained below:
You need to access the home page of Startup Mission, Kerala web portal.From the homepage, click on Apply now option. The link will redirect to new page.
Please click on the apply link which applies to you. You need to be a registered user to access facilities of Kerala Startup Mission.
By clicking on the Apply button type of start-up, the page will be displayed. Select your startup type and click on Register option.
The start-up registration page will be displayed. Provide details of First name, last name, email ID and mobile number.
After registration, you can log in to the portal using the user credential.
Once registered in the portal, you will get access to all major events in Kerala ecosystem and also get access for various schemes for start-ups as described above.