IEDC Clusters to Get ₹10 Lakh Each as Working Capital to Strengthen Product Development

KOTTAYAM:
Kerala’s startup ecosystem has emerged as a role model for the rest of the country, and innovation hubs should be established in all major cities in the state to nurture high-value startups, Seeram Sambasiva Rao, Special Secretary, Department of Electronics & IT, said here today.

He was delivering the presidential address at the day-long IEDC Startup Summit 2026, held at Amal Jyothi College of Engineering in Kanjirappally, Kottayam.

Rao noted that Kerala’s greatest strength is its human capital, which has enabled people from the state to work and excel across the world. Stressing the need for knowledge-driven innovation, he said the focus should be on building high-value startups that can compete globally.

The summit, organised by Kerala Startup Mission (KSUM), showcased the growing strength of Kerala’s student startup ecosystem, bringing together innovators, policymakers, and academic leaders to highlight emerging technologies and entrepreneurial ideas from campuses across the state.

The event featured product launches by student-led startups aimed at strengthening innovation within college communities.

Inaugurating the summit, N Jayaraj, MLA, said Kerala has always moved forward by understanding the changing times. He urged students to use technology to address real problems faced by society.

Anoop Ambika, CEO, Kerala Startup Mission (KSUM), said technological advancements, particularly artificial intelligence, have significantly reduced the time required to build prototypes. “Earlier it would take several months to develop a prototype. Today, with the help of AI, it can be done in a matter of days,” he pointed out.

Ambika observed that many aspiring entrepreneurs approach him seeking funding. “One out of ten aspiring entrepreneurs who call me ask for funding. Instead of waiting for grants or funding, students should focus on building products,” he said, encouraging them to translate classroom learning into real-world innovations.

He also urged students to move away from rote learning and adopt a hands-on approach by developing more products through Innovation and Entrepreneurship Development Centre (IEDC) clusters. Currently, there are around 550 IEDC clusters across Kerala.

Ambika stressed the need for decentralisation of these clusters so that every district can actively participate in the innovation ecosystem.

He announced that instead of funding individual colleges, each cluster would be provided with ₹10 lakh as working capital to strengthen product development and entrepreneurial activity.

More than 3,500 student entrepreneurs attended the summit, which featured over 100 student startups.

Six promising student startups unveiled their products at the summit, highlighting innovative solutions emerging from Kerala’s student startup ecosystem. These startups were FluxTerra SimWorks, Gudgumz, Agrowtein Labs Pvt Ltd., Ecocee, SCIFY Technologies Pvt Ltd., and INCIAL.

The event witnessed the launch of the InnoVisa Student Card, an initiative by KSUM designed to provide exclusive support and opportunities for IEDC students across the state.