KOCHI:
The Kerala government will provide individual attention to entrepreneurs going for investments of Rs 5 crore and above, Industries Minister P. Rajeeve said today.
A soon-to-be-formed coordination committee of all the departments concerned will hold monthly meetings at the district level to ensure them such assistance, he noted after inaugurating four skills-enriching flagship programs by Kerala Institute for Entrepreneurship Development (KIED) for stronger domain knowledge among aspiring as well as existing entrepreneurs.
“Already the government has a state-level coordination committee working to resolve issues facing our industry. Shortly, we will have a similar body at the district level which will hold monthly meetings in its efforts towards giving special care for those investing above Rs 5 crore. This committee will comprise representatives of various departments, Lead Bank and KIED,” the Minister said in Kalamassery at the opening ceremony of the flagship programs, which also features an exhibition of entrepreneurs who participated in the KIED programs.
Rajeeve said banks in Kerala should adopt a more creative approach while giving loans to manufacturing enterprises. Capital mobilisation for small-scale industries continues to rely on local sources, which needs a change that can be brought about by banks through imaginative measures, he noted.
“We sensed the requirement for a novel approach on the basis of a series of recent meetings between top officials of Industries department and the banks in the state as part of our observing 2023-24 as an Entrepreneurship Year 2.0,” the Minister said, adding that the mortality rate of enterprises in Kerala was at 15 per cent, which was half of the national rate of closure of businesses.
The event at the KIED complex provides delegates with opportunities to interact with advisors and experts on sustainable entrepreneurship, digitisation, GeM (Government e Marketplace) and ONDC (Open Network for Digital Commerce).
The Minister said the government opened 10 private industrial parks during the current fiscal, with the target being 35 by end-March 2024. Authorities are also planning to start campus industrial parks and cooperative industrial parks in 2023-24, he added.
Municipal Chairperson Seema Kannan, who chaired the session, said the KIED programs guarantee better skills to entrepreneurs by providing them bright business ideas and strong knowledge about the procedures to launch businesses.
KIED Chief Executive Officer Benedict William Jones, welcoming the gathering, said authorities are working towards making the institute the first contact point for all the entrepreneurs in the state. Also, KIED is striving to make best use of getting the services of experts in enriching the skills of entrepreneurs, he added.
KIED Deputy Manager P.J. Joseph proposed thanks.
Other speakers included Municipal Councillor Basheer Ayyambrath, Kerala State Small Industries Association Joint Secretary B. Jayakrishnan, Department of Industries and Commerce Additional Director Dr K.S. Kripakumar, TiE Kerala former President Anisha Cheriyan, Entrepreneurship Development Institute of India faculty member Sivan Ambat, District Industries Centre General Managers Dinesh R. (Malappuram), Saji S. (Palakkad) and P.N. Anilkumar (Pathanamthitta) besides Directorate of Industries and Commerce Joint Director Rakesh V.R.
The event strings together four KIED programs focus on developing innovation, business framework and strategic thinking to strengthen aspiring and existing entrepreneurs. Each of them seeks to foster an intimate and collaborative learning environment by allowing personalized attention and meaningful peer interactions.
One of KIED’s programs is for those starting business. Titled Launch Pad: Mastering the Art of Entrepreneurship, it offers a five-day training session to help identify the steps, decisions, and actions required to start and run a successful business venture. The candidates will be provided with practical knowledge in developing their business model framework and plans with the help of experts-led workshops, case studies and interactive group sessions. The second program, on improving business, is titled ‘Growth Pulse’. It is for existing entrepreneurs by helping them scale up and maximize the potential of their business. Candidates will be given a personalized guidance by expert mentors on topics such as market expansion, calculated partnerships and improved operational processes.
For entrepreneurs, KIED’s Tech Horizons program will offer a three-day training session to help link business strategies with latest technological advancements. Candidates will be provided with hands-on sessions, expert lectures, and interactive demonstrations, in order to understand emerging technologies to evolve their business. Fourthly, to unleash sales potential, KIED’s Market Mystery program will offer a three-day training session to help capture and expand market. The candidates will be given guidance on market analysis, consumer behaviour insights, and persuasive communication techniques, in order to increase their sales volume and maximize their market presence.
The 1994-instituted KIED promotes entrepreneurship among Kerala’s youth by providing them training in skill development and leadership.
