After sending Keralites in large numbers to the Gulf to earn petro dollars for several decades, the state now is wooing its expat sons and daughters to become entrepreneurs.

Kerala Startup Mission (KSUM), Kerala’s nodal agency for startups, has launched the project, “Startup Infinity”, which aims to offer non-resident Indians (NRIs) mentorship, financial assistance and other support required to prepare them to become startup entrepreneurs.

The agency is set to open the first ‘Startup Infinity’ centre, a plug-and-play business centre for prospective expat entrepreneurs in Dubai next month, which has a sizeable NRI population. In the long term, KSUM will also assist expats and resident startups in launching their ventures in various global destinations.

Ashok Kurian, the person in charge of business development at KSUM, told Arabian Business, “We have a basket of options for NRIs to turn to entrepreneurship. If they want to start their own ventures, we can offer mentorship, besides assisting in connecting to investors for funding. If they want to be part of some of the existing startups in Kerala by way of becoming co-founders, investors or helping them with market opportunities, we can provide the match-making in those cases.”

He added that if expats want to start or register their ventures in Kerala, they will also be offered all the financial assistance which is available to startup founders in the state.

“The idea is two-fold. Having created a globally acclaimed startup ecosystem in Kerala, we now want to help and promote entrepreneurship among NRIs. We also want to attract more and more investments to come to Kerala,” Kurian said.

He said after the UAE, the agency plans to open the ‘Infinity’ centres in the US, Europe and Australia as well which also have a large NRI population.

“The ‘Infinity’ centre project will be launched in more locations based on our experience from the UAE pilot project,” he said.

Kurian said the proposed ‘Startup Infinity’ centres in the UAE and other countries will also double up as launch pads for Kerala-born startups which want to go global.

“We will be opening the Infinity centre in Dubai and in other countries in association with global partners, who will be selected through the official procedures,” he said.

Kurian said the proposed Infinity centres will also seek to make Kerala a key point of access for overseas startups to explore the Indian market.

“The idea is to establish an engagement and co-creation space where founders from Kerala and the NRI community come together, network, ideate and establish new ventures.”

Besides, the new project is also aimed to create NRI angel networks to support Kerala’s startup ecosystem and increase the quantum of funding and investment into IT projects in the state, Kurian said.

Source: Arabian Business