CM Vijayan opens Huddle Global; Says Kerala will be key player in India's deep tech ambitions

Thiruvananthapuram: Kerala is set to play a significant role in the country’s quest to become the global deep tech capital, with promising investment opportunities on the horizon, particularly through the Emerging Technology Hub (ETH) initiative, Chief Minister Pinarayi Vijayan said on Thursday.

The CM said that ETH initiative focuses on five high-growth domains.

He was inaugurating the country’s flagship startup festival Huddle Global 2024, organised by Kerala Startup Mission (KSUM) at beach tourism hub Kovalam near here.

Vijayan said the ETH initiative is envisaged as a futuristic product development hub focusing on Food & Agriculture, Space Technology, Renewable Energy, Digital Media & Entertainment, and Healthcare & Life Sciences.

“ETH is envisioned as a PPP company in a three-acre campus in Technocity, Thiruvananthapuram, at an estimated cost of Rs 350 crore, and I urge investors and enterprises across the globe to seriously consider investing in this new company, which will work on path-breaking and futuristic products in the identified sectors,” he said.

The inaugural session of the three-day event also saw signing of a set of upfront MoUs and partnerships. Before delivering his inaugural address, the Chief Minister interacted with startups and investors converged for the event.

Tracing the impressive journey of the state’s startup ecosystem 2016, he said the state now has more than 6,100 Startups, providing more than 62,000 employment opportunities, generating Rs 5,800 crore as investments.

Though Kerala’s startup ecosystem is rated the best in the country, he said, “Since early stage capital is extremely important for the startup ecosystem to thrive, I would like to urge the High Networth Individuals in each district to come together and create Angel Funds following the successful examples of Kerala Angel Network and Malabar Angel Network.” Entrepreneurship and innovation development initiatives like LEAP(Launch, Empower, Accelerate & Prosper) and IEDC enabled aspiring entrepreneurs from all over the State to set up Startups close to their homes or educational institutions, he said urging all higher education institutions to set up LEAP Centres.

He hailed the Department of Higher Education’s recent directive asking all institutions under it to set up IEDCs – Innovation, Entrepreneurship and Development Centres, adding this model will be replicated in the educational & research institutions that operate under the Health and Agricultural Departments as well.

Also, the Freedom Squares initiative is set to become the epicenters of innovation and entrepreneurship in every district. He revealed that Kerala Startup Mission has been selected as one of the project management units of the 200 Million Dollar Kera Project funded by the World Bank.

Also, the state is setting up an International Market Acceleration Programme (IMAP) where the Indian diaspora can participate in the global scale up of local Startups through investment, mentorship and business development, he said.

The state is also embarking on an ambitious project that blends technology and tourism, the Chief Minister said. In the upcoming Invest Kerala Global Summit, there will be an Investment Pitch Session, dedicated for Startups.

To tide over the space crunch faced by IT and other promising areas, Kerala has introduced the innovative land pooling model, which along with the Work Near Home Centres will ensure adequate space for tech companies and Startups.

Though AI is opening up incredible opportunities for innovation, it is important to explore its transformative potential in creating solutions that address the unique challenges of our society, Vijayan added.