KFC creates record in setting up Non-IT start ups in Kerala

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Trivandrum: Thanks to the innovative scheme of Kerala State Entrepreneur Development Mission (KSEDM), the State is witnessing success stories of start-ups in the non-IT sector. The KSEDM scheme is promoted by the Government of Kerala with the Kerala Financial Corporation (KFC) as the nodal agency.

According to Yogesh Gupta IPS, Chairman & Managing Director, KFC, “The Mission aims to provide start-up opportunities for starting industries with emphasis on manufacturing, which forms the basis for other service industries. The scheme also aims to reduce unemployment by inculcating entrepreneurship among the educated youth of the State. It has crossed its first milestone of putting 50 successful units into commercial operation across the State and now aims to make 135 more units to start commercial operation before the end of the current financial year.”

The scheme, first of its kind in the country, aims to provide start up opportunities to around 10,000 enterprises in a holistic manner. The support includes free entrepreneurial training in reputed Rural Self Employment Training Institutes (RSETI) run by lead banks and interest free funding up to Rs 20 lakhs. Besides imparting field experience, handholding facilities like follow up for licenses, permission from Government departments, Techno-economic studies and creation of market for products are also provided.

Though it was a herculean task, KFC took the challenge and modelled a training programme which had a mix of management contents, financial components, field visits and presentations. The selection of proposed entrepreneurs is after rigorous scrutiny by a Committee comprising General Manager of District Industries Centre, Lead District Manager, Director of RSETI, Local Industry Representative, KFC Branch Manager and   Representatives from Finance & Local Self Government Department.

Within a year of its launch, a total of 852 entrepreneurs associated with 346 enterprises are already imparted training and expected to cross the 1,000 mark by the end of February 2013. Fresh registrations for 140 more units are received and meetings of the selection committees are being organized in different districts to select good projects promoted by youngsters with ideas, drive, passion and determination.

Considering the huge response, the scheme is now open to technocrats like CAs, ICWAs, MBA holders, Doctors, Engineers,  etc. for setting up their units. Including the people starting their own enterprises, the mission has already provided   direct employment to about 500 persons and indirect employment to another 2000 persons.

Such creation of large number of start-up in non-IT sector is a global record of sort and is likely to take Kerala from a State with lack of entrepreneurship to a State with high entrepreneurship.

Kerala Biz News

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