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Thiruvananthapuram: The Kerala government on Wednesday decided to extend the benefits enjoyed by Information Technology startups registered with the state-run Kerala Startup Mission (KSUM) to the non-IT startup sectors.
The decision was taken in a Cabinet meeting held during the day, a release issued by the Chief Minister's Office said.
The Cabinet decided that the benefits provided to products and services of IT startups registered with KSUM and having a unique state ID would be given to non-IT sectors also.
Besides that, the government also decided to increase, from Rs 20 lakh to Rs 50 lakh, the cap on purchase of all types of products and services from startups having unique IDs, the release said.
It also said the Cabinet further decided that the limit for startups, having unique IDs, for participating in limited tenders would be increased from Rs 1 crore to Rs 3 crore.
The duration of the benefits would be either three years from date of registration or three years from date of approval of the product by KSUM, whichever is later, it said.
The Cabinet also decided that the benefits would be provided in accordance with the terms and conditions and guidelines prepared jointly by the Departments of Store Purchase and Electronics and Information Technology, the release said.
KSUM, founded in 2006, is Kerala government's nodal agency for entrepreneurship development and incubation activities in the state. PTI
