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Kerala January 2026 : The State Budget for 2026–27, presented by Finance Minister K N Balagopal in the Kerala Assembly today, is set to further accelerate and diversify Kerala’s startup ecosystem.
An allocation of ₹99.52 crore has been earmarked for Kerala Startup Mission (KSUM) to continue ongoing projects and roll out new initiatives. The overall allocation for the IT sector has also been enhanced to ₹548.05 crore from ₹517.27 crore in the previous year.
In his budget speech, the Finance Minister highlighted the significant progress made by Kerala’s startup ecosystem over the years. The number of startups has grown from 800 in 2017–18 to 6,477 in 2024–25, while employment generated has increased from 28,000 to 64,870. Investment in the ecosystem has also seen a sharp rise, reaching ₹6,983 crore compared to ₹280 crore during the same period.
“The budget allocation for the startup ecosystem reflects the government’s deep commitment to promoting social entrepreneurship and facilitating Kerala’s transition into a knowledge economy,” said Anoop Ambika, CEO of Kerala Startup Mission.
According to him, the budget has unveiled three new schemes aimed at putting the startup ecosystem on a stronger growth trajectory and encouraging entrepreneurs from diverse backgrounds and domains.
The allocation for the state’s flagship “Fund of Fund” scheme has been enhanced to improve venture capital access for startups. In addition to ₹3 crore provided in the budget, an extra ₹10 crore has been set aside for the programme.
The budget has also allocated ₹4 crore for KSUM’s “New Innings” project, which seeks to involve senior citizens as entrepreneurs, mentors, and consultants in the startup ecosystem.
Further, ₹2 crore has been earmarked for establishing a “Culture and Creativity Incubator” in Kochi. The facility will support startups and entrepreneurs in sectors such as museums, festivals, visual arts, crafts, design, AR/VR/XR, and creative technologies.
- Technoparktoday
