Get All Access for $5/mo

Kerala's Demographic Advantage Will Fuel Indian Startups: Shashi Tharoor According to data provided by the Ministry of Commerce and Industry, Kerala recognized 4,251 start-ups as of April 30, 2023

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Shashi Tharoor, Member of Parliament for Thiruvananthapuram, Kerala, believes that Kerala will regain its status of a tech hub. Notably, the country's first IT park stands in Thiruvananthapuram, built back in 1991.

"Thiruvananthapuram is back with a vengeance. We are saying to the world we are ready to take on the challenges. And the best is yet to come, as age is on our side. We know that Indians have a huge perpendicular advantage of demography. This is the time for us to seize the advantage," he adds.

According to data provided by the Ministry of Commerce and Industry, Kerala recognized 4,251 start-ups as of April 30, 2023. The number increased by 974 in 12+ months. Notably, the Kerala Government has been one of the most active in nurturing start-up ecosystems as a state. With initiatives such as Entrepreneurship Development Centres (IEDC) for colleges, Young Entrepreneurship Programme (YIP), incubation and acceleration programmes and corporate innovation, the state is on a transformative path.

"The growing importance of innovation in entrepreneurship in Kerala and India is no surprise. It demonstrates the society's growing faith in finding new ways to solve traditional age-old problems," adds Tharoor.

"A young country where fresh graduates could join in the dynamic, productive and youthful workforce which could be the engines of the world. But it will only work in our favour if we can educate and train our people to seize opportunities in the 21st century. We (Thiruvananthapuram and Kerala) have lots of capable, skilled and educated young people ready to take on the challenge. In Kerala, we are confident that we have no shortage of abled educated people ready to take on this challenge," he adds.

Continuing the tradition of innovation in the state, Tharoor has set up a challenge. A challenge to 50 HNIs of Kerala to pool one million US dollars each to fund the startups in the state.

"We are ready. Are you?" Notably, to work on the start-up ecosystem of the state, Kerala Startup Mission signed a MoU with Belgium, Australia and the State Bank of India (SBI). Tharoor made the statement during a keynote address at the inaugural function of Huddle Global 2023, a start-up conclave hosted by Kerala Start-up Mission (KSUM) at Adimalathura in Thiruvananthapuram.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

News and Trends

Broadcom Stock Soars on AI Growth Outlook

Broadcom's next-generation AI chips, built with advanced 3-nanometer technology, are set to debut in the spring

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

IIT Kanpur Launches Hackathon to Empower Startups in Cybersecurity

Startups will pitch their solutions to a panel of industry experts, with selected teams gaining access to incubation support at IIT Kanpur to help bring their ideas to market