Out of 241 applications from startups and student teams around Kerala, 31 were selected to receive funding at Kerala’s ‘Idea Day.’ The 8th Grand Idea Day was held by the Kerala Startup Mission (KSUM). The idea day was set up to find and help fund startups, ideas and technology solutions in a variety of sectors and has awarded 25 startups, students and entrepreneurs with funding.
The Kerala Startup Mission was set up by the government of the state to support, encourage and ease the process of entrepreneurship and idea development. “49 existing startups and students from colleges have presented the ideas for their projects in four categories,” KSUM manager Ashok Panjikaran said.
The 49 startups selected from the 241 applications gave presentations regarding their innovations at
‘Idea Day,’ where experts from the various field viewed and assessed the products, before selecting the Top 31.
The total funds of Rs 2.64 crore will be divided among the 31 startups based on each project and its potential for development, production, and marketing. According to Panjikaran, the products and innovations presented at the event came from a variety of fields including hardware, IoT, Enterprise Resource Planning, Platforms and Aggregators, Blockchain, AR/VR and Artificial Intelligence. “The Idea Day is a solution for the startups, which were finding it hard to find a source for funding and promote their products,” Panjikaran said. The ideas presented come from those that are moving toward developments or upgrades for their products. The next ‘Idea Day’ is expected in January 2018.
(Picture courtesy: Startuptalks.in)
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