By Food technology and fashion are among the sectors that can boost startups in the country even as sociocultural factors are slackening the leadership of women leaders in nascent companies, experts noted at Invest Kerala Global Summit (IKGS) today.
Hardware merits stronger governmental support, while there should be scientific studies on why firms that close down at an early stage, speakers said at a session on ‘Nurturing the Future of Startups and Innovation’ after the inauguration of the February 21-22 IKGS in the city.
India has no dearth of talent in women entrepreneurs, said Zafin India Managing Director Suja Chandy. “Often, lack of opportunities smothers their potentials,” she added at the 75-minute roundtable moderated by Kerala Startup Mission CEO Anoop Ambika.
On the brighter side, according to Aceware Fintech Services MD Nimisha J Vadakkan, Kerala is open to experiments, often earning positive feedback that facilitates the growth of enterprises. “Micro-financing in the country should be more inclusive,” she added.
On an observation from the audience that authorities paid hardware less care than it deserved, KSUM’s Anoop recalled that Kerala has the pioneering Maker Village which is the country’s largest electronic hardware incubator and ESDM facility. The startup initiative under the Ministry of Electronics and IT is into its tenth year, he pointed out.
Anoop’s subsequent invitation to let the audience know more about D2C threw fresh light on the direct-to-consumer business model that bypassed traditional retailers and wholesalers.
The other speakers were MedGenome Founder-Chairman and Global CEO Sam Santhosh, JIFFY.ai CEO Babu Sivadasan and Australia’s Senior Trade and Investment Commissioner John Southwell, besides Open Financial Technologies Co-founder Anish Achuthan.
Earlier, Anish, in his keynote address, highlighted the need for steady support from venture capitalists and angel investors in boosting the state’s healthcare sector with special focus on Ayurveda and biotechnology. Startups in AI and robotics, too, deserved boost, he added.
As many as 3,000 delegates are participating in IKGS at Lulu Bolgatty International Convention Centre, with Chief Minister Shri Pinarayi Vijayan inaugurating the event.
