Grand Idea Day innovations and ideas to get Rs2.64crore KSUM funding

Kochi, Dec 23:A total of 31startups and student teams from all over the state will get a financial assistance of Rs2.64crore, who presented a range of innovative technology solutions at the 8th Grand Idea Day, conducted by the Kerala Startup Mission (KSUM) today to select technology relevant and scalable ideas across various domains.


From the 49 grand ideasfrom startups/students  whichwere selected from around241 applications,31 startupswereconsidered for funding.


“The Idea Day is a solution for the startups, which were finding it hard to find a source for funding and promote their products. Forty nine existing startupsand students from colleges have presented the ideas for their projects in four categories,” said Ashok Panjikaran, Manager at KSUM.


Startupsfrom Kerala,presented solutions across different sectors, including hardware, IoT, ERP (Enterprise Resource Planning), Platforms and Aggregators, Blockchain, AR/VR and Artificial Intelligence (AI), he said.  These are startupsand  innovators working on their ideas, and those trying to productize their concept or scale up their existing products.


Experts from each field evaluated the projects and selected the best ideas for the financial assistance. The amount to be given to each startup will be decided according to the nature of the projects which are presented and their potential for global marketing and development.


The Kerala government has successfully implemented the Idea Day programme to promote innovation in the state and to make starting up ventures easier than before.


The next Idea Day is scheduled to be held in January 2018. The Idea Day has so far released grants to more than 25 startups, students and individuals.



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