Set up $50 million corpus to back Kerala startups, says Tharoor

Thiruvananthapuram: Congress leader and Thiruvananthapuram MP Shashi Tharoor on Thursday asked High Networth Individuals (HNIs) of Kerala to create an investment corpus fund of $50 million to invest in startups of the state.

In his address at the Huddle Global 2023, organised by Kerala Startup Mission (KSUM), he asked investors and rich people in the state to form a group of 50 and pool one million US dollars each to fund the startups in the state.

"We are ready. Are you?" asked Tharoor.

"Kerala is ready to take up the technological challenges of the world and the Huddle Global 2023 is sending out a clear message on this. In early days, the word innovation had a negative air about it as it signaled uncertainty. The word disruption that is used widely now also has a similar nature. But the message is clear: disrupt or get disrupted," he said.

"India has a great strength as developed nations are becoming aged societies. Even in the US, which attracts migrants from across the world, the average age is 40 while in India it is 29. The problem India faces is the lower standard of education in many places. But Kerala has overcome that problem and has developed a good education system. That has enabled the state to become a hotspot for research institutions and companies looking for quality talent," Tharoor added.

Now into its fifth edition, Huddle Global 2023 has a convergence of around 15,000 delegates from within the country and abroad, showcasing the strength of Kerala’s robust startup ecosystem.