The Kerala government has increased the ceiling on the purchase of products and services from startups registered with the Kerala Startup Mission (KSUM) from INR 1 crore to INR 3 crore in an effort to boost the state’s startup ecosystem. This move will help various government departments, public sector undertakings (PSUs), boards, corporations, and local self-government (LSG) institutions to leverage innovative technology solutions from startups. Startups that have completed three years from the date of their registration or three years from the date of the product approval by KSUM are eligible for the benefits of the scheme. The state-run agency has launched a flagship project called ‘Government As a Marketplace for providing the innovative services and products of startups to government departments.
Kerala Startup Mission (KSUM) is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state. Anoop Ambika is the CEO of KSUM.
The government’s move to increase the ceiling on the purchase of products and services from startups will help boost the startup ecosystem in the state of Kerala. This will allow various government departments and institutions to leverage innovative technology solutions from startups for their operations. Kerala Startup Mission (KSUM) plays a vital role in promoting entrepreneurship and incubation activities in the state, which will benefit from this move. Anoop Ambika, the CEO of KSUM, believes that early product adoption is always critical for startups to scale, and the government as an adopter helps startups grow exponentially while adopting innovative solutions.
