Kochi: The central government has initiated steps to create stronger seed funds and more incubation centres to promote startup ecosystems in the country, Startup India Head Mamatha Venkatesh said in Kochi on Friday.

Venkatesh said that steps were being taken in addition to the financial allocations of the IT Ministry. She highlighted that startups in various sectors can also receive help from other departments. She was speaking at the inauguration of the pioneering Kerala Innovation Festival (KIF) organised by the Kerala Startup Mission (KSUM) at Kalamassery.

Terming Kerala's startup ecosystem the country’s “most vibrant”, Venkatesh said the state alone secured 100 per cent registration under Startup India. “One should make full use of the Centre’s GeM (Government e-Marketplace), the Rs-one-lakh-crore Fund of Funds and the Credit Guarantee Scheme,” she exhorted. It is a matter of pride that 48 per cent of the startups in the country are founded or co-founded by women, she added.

State Planning Board member Mini Sukumaran said that women’s representation in the workforce remained “very low,” despite a steady increase in the number of girl students in Kerala's higher education institutions. “This gap is a challenge. The state government is taking urgent steps to resolve this. Also, the Planning Board has given various suggestions and schemes to the government to make the gender budget more effective,” she added.

KSUM Chief Executive Officer Anoop Ambika said the nodal agency will implement more mechanisms for angel funding to startups in their infancy. “Currently, Kerala has four angel networks. Success of more startup ecosystems will inspire angel investors,” he added.

The KIF features more than 100 eminent personalities from diverse fields, including film, music, technology, fintech and social enterprises.

The two-day event, which aims to further ignite the imaginative capacities of nascent companies, highlights KSUM’s ten years of journey (since the Technology Startup Policy was notified in 2015) that has transformed the state from a budding ecosystem into a globally-recognised model of inclusive and impact-driven innovation.

An exhibition held as part of the event showcases futuristic products powered by ultramodern technologies that are significantly impacting humankind.