Union Government Boosts Startup Growth with Stronger Seed Funds

The union government plans to enhance seed funds and incubation centers to support startups, StartupIndia Head Mamatha Venkatesh announced at the Kerala Innovation Festival. Kerala's vibrant startup ecosystem, marked by high female participation, is set to benefit from these initiatives. Meanwhile, efforts to address gender workforce gaps are ongoing.

The union government is taking major steps to bolster the startup ecosystem through enhanced seed funds and incubation centers, according to StartupIndia Head Mamatha Venkatesh. Speaking at the Kerala Innovation Festival, she underscored the significant opportunities this presents for fledgling companies across the nation.

Inaugurated by top officials, the festival highlights Kerala's dynamic startup ecosystem, which boasts 100 percent registration under Startup India. Mamatha Venkatesh encouraged startups to fully utilize government schemes like GeM and the Credit Guarantee Scheme.

Despite positive developments, challenges remain, particularly in gender workforce participation, as discussed by State Planning Board member Mini Sukumaran. Nonetheless, the Kerala government is committed to closing this gap, with the help of organizations like KSUM implementing new angel funding mechanisms.

(With inputs from agencies.)