Huge possibilities for tech startups in small towns: ‘Ignite Palakkad’

Palakkad / February 17, 2023

Palakkad, Feb 17: Technology startups have immense possibilities in Kerala’s small towns like in other big cities, experts said at an investment meet by the Kerala Startup Mission (KSUM) on Friday.

KSUM’s ‘Ignite Palakkad’ held here at the district level was a precursor to the nodal agency’s ‘Seeding Kerala 2023’ that aims to boost investment in startups across the state. Today’s meet featured an Investment Café, Product Expo, Pitch Clinic and a Master Class besides a string of stakeholders’ meetings.

KSUM Chief Executive Officer Shri Anoop Ambika, while speaking at the event, said Kerala’s rural areas, too, have strong internet facilities amid rapid urbanization across the state.

“We are committed to support all launching technology startups in small towns and create awareness among potential investors besides financially-sound institutions from these towns through various programmes,” he said in the talk titled ‘Startup Mission Spreading Wings to Rural Towns’ at the round table meeting.

KSUM’s incubation centres in Kollam, Palakkad and Kannur play a major role in this initiative, the CEO added.

Palakkad District Collector Dr Chithra S gave a special address at the Round Table held as part of the event, which  was also attended by Shri Anoop Ambika and Shri Karthik Parasuram, Project Director, KSUM. A discussion on ‘Ecosystem Development Plan’ was also held at the round table meeting.

Around 70 startups attended the one-day event where four major venture capital firms in the country also took part. About 20 startups interacted with investors and as many as 10 startups showcased their innovative products in the expo.

‘Ignite’ facilitates stronger network between nascent companies and investors, besides connecting the firms with HNIs (high-net-worth individuals). KSUM Incubation Manager Shri Vignesh Radhakrishnan was also present. 

The objective of ‘Ignite Palakkad’ was to bring together multiple stakeholders in the ecosystem to understand the problems, potentials and issues that are relevant to build the ecosystem.

Premagic Founder Shri Anup Mohan spoke on ‘Craft Your Story to Catch Attention’ and Shri Mathew Joseph of Fresh To Home gave a speech on ‘Art of Scaling Up’ in the pitch clinic session of the event. Angel Network Manager Shri PK Gopalakrishnan led the masterclass on ‘Understanding the Basics to Startup Investing.’

IIT Palakkad, Palghat Management Association;‘Darsana’-Alumni Organization of NSS College of Engineering, Palakkad; and Kanjikode Industries Forum (KIF), were the partners of the event.

KSUM, as the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state, has been organising ignite drives in all districts to attract investors for the startups.