IT networking major Cisco to launch incubator for startups in Kerala

Some of the other big announcements at the event were the state’s decision to have a Kerala Innovation Challenge (KIC) which will invoke startups to find solutions to socially relevant problems of our times. The state will also host the Global Impact Challenge (GIC) being organised by Singularity University, a think tank. Startups that have innovative ideas which can affect a billion people in the next decade can send applications for the contest.

(Express photo)

Unicorn India Ventures, a prime investor, announced that it has already invested in four companies that took part in deliberations at ‘Huddle Kerala’ and that it planned to invest in two more startups very soon. Sea Fund is another investor which has expressed interest in the state’s emerging and innovative startups.

“What is important for Kerala is to move outside and get into new markets. That’s where we have decided to help them. When it comes to investment, local investments have to happen. We will help them in this regard too. Money is one part of it. But our main focus is to help them by way of mentoring and coaching,” said Manoj Kumar Agarwal, CEO and co-founder, Sea Fund, in a statement.

According to a release, close to 600 startups and 1300 delegates from different companies participated in the deliberations at ‘Huddle Kerala’ on the picturesque coast of Kovalam near the state capital. While 50 startups pitched their ideas to a jury, ten were shortlisted out of which three were pronounced winners. There were also one-on-one networking meetings, tech talks and founder talks.