World Benchmark Study ranks KSUM among world’s top five incubators
Trivandrum / January 27, 2023
Thiruvananthapuram, Jan. 27: In big endorsement of its role in turning the state into a vibrant startup hub, the 2021-22 World Benchmark Study on Startup Ecosystems has ranked Kerala Startup Mission (KSUM) as one of the world’s top five business incubators.
KSUM has been selected as one of the top five incubators by UBI Global, a Sweden-based innovation intelligence company and community founded in 2013 in Stockholm.The World Benchmark Study is conducted to identify the best programmes from around the world and share the best practices for building a robust startup ecosystem.
For the sixth edition of the World Benchmark Study of business incubators and accelerators conducted by UBI Global, 1895 organizations were assessed,356 of these organizations applied to participate in the study, and 109 were benchmarked.
Appreciating KSUM’s global achievement, Chief Minister Shri Pinarayi Vijayan wrote in his Facebook post, “this achievement is the result of the Left government’s policy to ensure a favourable environment for startups for realizing a bright future for the State.”
This recognition will help bring in more investment in Kerala’s startup sector. May this inspire the startup mission to excel further, CM added.
Governor Shri Arif Mohammed Khan, in his Republic Day speech, noted the exemplary role played by KSUM in building the world’s best startup ecosystem in Kerala.
Finding a place among the top five business incubators of the world is a big recognition for KSUM’s efforts in creating a robust ecosystem and for its various incubation programmes, KSUM CEO Shri Anoop Ambika said.
Its innovative programmes including the virtual incubation programme, ‘Fail Fast or Succeed’ (FFS), physical incubation support provided for startups at various stages, and the systematic funding mechanism for startups have all played a key role in this momentous global recognition, he added.
By evaluating its outstanding impact and performance, the world benchmark study ranks an organisation as the top public/private business incubators in the world. Also, the study will take into account the scope of value, business, and investment opportunities provided by incubation programmes for startups.
KSUM received major accolades in the last five years, adding to the momentum of its incubation activities that accelerated the growth of nascent firms. In 2018, 2019 and 2021, the State had been ranked as Top Performer in State Startup Ranking by Startup India, Department for Promotion of Industry and Internal Trade (DPIIT). UBI Global recognised KSUM as World No. 1 Public Business Accelerator in 2019. KSUM received Chief Minister’s Award for Innovation in Public Policy for the year 2016.
The No 1 public Business Incubator will be announced at the World Incubation Summit, which will be held between May 14-17, 2023 in Ghent, Belgium.
KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.
