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Shashi Tharoor proposes $50 million investment from HNIs to boost Kerala’s start-up ecosystem

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Shashi Tharoor, Congress MP from Trivandrum has called for 50 high networth individuals (HNI) to invest $1 million each to create an investment corpus for Kerala’s start-up ecosystem.

Tharoor was speaking at the inaugural function of Huddle Global 2023, a start-up conclave hosted by Kerala Start-up Mission (KSUM) at Adimalathura in Thiruvananthapuram. He noted that one of the significant hindrances in the spurt of start-ups across India is access to resources and know-how.

Also read: CM Pinarayi Vijayan calls for partnerships in Kerala’s economic transformation

“When a group of individuals conceive an idea, eventually while forming a core of an enterprise, securing access to funding is often a challenge. I suggest 50 HNIs from Kerala or with an interest in Kerala put aside just $1 million each to create investment corpus for Kerala’s start-ups. We (govt) will take this forward and with this, one may gain far more than the invested amount,” Tharoor said.

Thiruvananthapuram’s prominence

Underscoring the prominence of Kerala’s capital city Thiruvananthapuram , he noted that the city is the hub of the future and has always been at the forefront as it has India’s first tech pack back in 1991. “We are all taken by the popular perceptions of places like Gurgaon and Mumbai but the truth is we have been developing and growing here. Thiruvanathapuram is back with vengeance and this is our coming of age party. We will again be pioneers,” Tharoor said. 

Also read: Kerala aims to create transparent business environment: Chief Minister

India’s start-up ecosystem has been brimming with innovation, and now has multiple prominent hubs like Bengaluru – the Silicon Valley of India and the Powai Valley in Mumbai. From Oyo to Ola, Indian start-ups are paving their way and have the potential to go global, the Minister said.

Huddle Global 2023, is a three-day event organised by Kerala Start-up Mission (KSUM) bringing together a wide range of stakeholders, at Adimalathura near Vizhinjam. It has a convergence of around 15,000 delegates from within the country and abroad, besides showcasing products from emerging sectors such as robotics, artificial intelligence, machine learning, augmented reality, virtual reality, life sciences, space tech, and blockchain, among others.

The reporter is in Thiruvananthapuram at the invitation of Kerala Start-up Mission, Government of Kerala



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