Nestled between lush backwaters and scenic hills, Kerala is emerging as a powerhouse of innovation, with a thriving startup ecosystem growing by 20% annually, fostering over 3,500 ventures.
Kerala Start Up Mission, Kerala's key entrepreneurship agency, has supported 6,400 + startups, 63 incubators, and facilitated $665 million (₹58 billion) in funding, creating 65,000 jobs and engaging 100,000+ students annually. The Kerala Budget 2024-25 projects a GSDP of $150 billion (₹13.11 trillion), reflecting an 11.7% growth from the previous year.
Announced at the 2024 Generative AI Conclave in Kochi, Kerala's industrial policy prioritizes 22 sectors, including AI, Blockchain, Machine Learning, Big Data, Robotics, Tourism, and Logistics. To attract investments, the government streamlined licensing via K-SWIFT and over eight months provided 52 approvals for the build of new private industrial parks.
Kerala's industrial sector is set to reach $15.1 billion by 2028, with its MSMEs contributing to major national projects, including prestigious space missions Chandrayaan and Mangalyaan. Kerala-based Semiconductor startup Netrasemi secured $ 1 million (₹100 million) in a pre-Series A round from Unicorn India Ventures to develop Edge AI for IoT products. Showcasing its green commitment, Kerala is establishing an integrated Electric Manufacturing Park to drive local manufacturing and innovation in the EV sector.
Kochi and Thiruvananthapuram stand out among tiered cities, drawing strong investor and corporate interest for Global Capability Centre (GCC) expansion. A new GCC policy is being developed to strengthen Kerala’s infrastructure and incentives, positioning it as a key hub for global enterprises in India.
