Representational Image | Mathrubhumi
Kochi: Kerala’s efforts to become the world’s best startup hub get global recognition. The ‘Global Startup Ecosystem Report (GSER)’ presented by the US-based startup genome and global entrepreneurship network indicates Kerala holds 1st rank in availing employees at lower costs (Affordable Talents) in Asia. The global ranking is 4th. In 2020, they were in 20th place.
Kerala achieved the award based on initial funding, venture investment and attracting and retaining professionals. In the venture capital funding category, Kerala is among the top three Asian nations where most funding was received. The award is an appreciation for Kerala’s efforts in becoming a startup powerhouse through the ‘Kerala Startup Mission,’ added CEO John M. Thomas.
The report mentions that Fab labs and MSME clusters have massively impacted the growth of startups. The benefits provided by the government during the initial stages attracted many startups. Kerala is suitable for investments in artificial intelligence (AI) and data analytics will attract more international companies to Kerala, the report says.
Startup Genome president Marc Penzel added that watching the startup community’s growth in Kerala even during the covid pandemic is a pleasure. The 140 globally active startup ecosystems are mentioned in the report.
The startup ecosystem in Kerala created around Rs 1037 crores ($ 13.3 billion) between July 1, 2019 and December 31, 2021.