Kerala’s start-up ecosystem grew by 254% during 2021-23 period: CM

Kerala has emerged as India’s most start-up-friendly State with the start-up ecosystem growing by 254% in two years since 2021, said Chief Minister Pinarayi Vijayan while inaugurating ReCode Kerala 2025, the development seminar organised by the Department of Electronics and Information Technology at KINFRA International Convention Centre, Kochi, as part of the State Government’s Vision 2031 initiative on Tuesday (October 28).

The State ranks first in Asia in terms of affordable talent as per the Global Startup Ecosystem Report and earned the Top Performer status in the 2022 National Startup Rankings.

“When this government assumed office in 2016, there were only 300 startups in the State. Through proactive measures — including a dedicated start-up policy, funding mechanisms, and a corpus fund — the number has now risen to 6,400,” he said. Over the past nine-and-a-half years, start-ups in Kerala have attracted investments worth ₹6,000 crore,” Mr. Vijayan said.

He said that Kerala’s IT exports are nearing the ₹1 lakh crore mark, having increased to ₹90,000 crore from ₹34,123 crore in 2016. The built-up IT space has also expanded from 155.85 lakh sq. ft. in 2016 to 223 lakh sq. ft. today. “Kerala is witnessing an unprecedented momentum in the IT industry, supported by massive infrastructure and policy initiatives,” he said.

Highlighting the factors driving IT investments to the State, the Chief Minister pointed to the ongoing National Highway expansion, airport modernisation, Vizhinjam Port development, the Power Highway and TransGrid projects ensuring uninterrupted energy supply, the Gail pipeline, and the Statewide connectivity network under the K-FON project. Currently, around 1.5 lakh people are employed across Technopark, Infopark, and Cyberpark, with over 66,000 new jobs created since 2016.

He said the government has introduced several measures to promote IT growth, including the Private Tech Park Promotion Policy, land lease options for projects, and incentives on property tax, stamp duty, and registration charges. “Infrastructure alone cannot drive IT growth; we must also ensure a skilled workforce. The government is moving ahead with plans to develop 10 lakh skilled professionals to meet industry needs,” he added.

Industries Minister P. Rajeeve presided over the function. Special Secretary (IT) Seeram Sambasiva Rao IAS presented the Vision 2031 report. The Chief Minister also inaugurated ‘I by Infopark,” a plug-and-play co-working space near Ernakulam South Metro Station, and launched a 5G chip fully developed in Kerala. He handed over the operational permit of the first company in ‘I by Infopark’, Zoho Corporation, to its USA CEO, Tony Thomas.

As part of the seminar, the Indian Institute of Information Technology and Management-Kerala (IIITM-K) signed memorandums of understanding with various IT firms. Kochi Mayor M. Anil Kumar, P.V. Sreenijin, MLA, and Infopark CEO Sushant Kurunthil were among those present.