Thiruvananthapuram: The Kerala Startup Mission (KSUM) has initiated a financial aid project, Idea Day, to provide a fund for innovative projects, ideas and products from college campuses.
The innovation fund will be given to novel projects from Innovation Entrepreneurship Development Centers (IEDC) in 196 colleges across the state and technology product startups from outside. The grant is given in the Idea Grant, Prototype Grant and Scale-up Grant categories.
The date for receiving applications for the grant has been extended to September 29. The Idea Day will be conducted on the first Saturday of every month.
KSUM CEO Dr Saji Gopinath said, KSUM has identified many projects from the IEDC across the State. “They can be scaled up for the social good as well as bringing it out to be a patentable product. When financial support is given to such projects, the students will also be motivated. This will enable them to think about more innovative projects,” he said.
“If funding support is extended to these innovative projects and startups, it will be a handholding to the students for taking their projects to the next level,” he said, adding that it would help flourish the startup ecosystem from the college-level.
From October, applications received until 25th of every month will only be considered for the Idea Day presentation. Shortlisted applicants can present their ideas before the panel. The internal committee of the KSUM will conduct the initial screening of the applications. Startups, which have registered their operation in Kerala, are also eligible for the grant.
The shortlisted candidates will be informed five days before the Idea Day, which is to be conducted at any one of the KSUM offices in Thiruvananthapuram, Ernakulam or Kozhikode. The shortlisted candidates should present the idea in a six-slide PowerPoint. There will be ten minutes for idea presentation.