Kerala Brings In Policy Initiatives To Promote Itself As GenAI Hub

Govt, Meta Team Up To Push For AI Adoption In India

SUMMARY

Kerala has unveiled a slew of policy initiatives to promote the state as a global hub of GenAI by creating an ecosystem reinforced by incentives and partnerships

The government will come out with a dedicated AI policy, complying with the ESG goals during this fiscal year itself

Preferential share capital investment of up to INR 5 Cr would be provided by the KSIDC to AI entities with a minimum investment of INR 10 Cr

At a time when India is witnessing a rapid artificial intelligence adoption among masses and enterprises, Kerala has unveiled a slew of policy initiatives to promote the state as a global hub of GenAI by creating an ecosystem reinforced by incentives and partnerships.

As per PTI’s report, Industries Minister P. Rajeeve made the state’s AI declaration at the valedictory of the two-day International Generative Artificial Intelligence Conclave organised jointly by the Kerala State Industrial Development Corporation (KSIDC) and IBM.

The government will come out with a dedicated AI policy, complying with the ESG (environmental, social, and governance) goals during this fiscal year itself, Rajeeve was quoted as saying in the report.

Based on the policy, support and incentives will be provided to enhance the existing infrastructure and create a more futuristic AI ecosystem.

Preferential share capital investment of up to INR 5 Cr would be provided by the KSIDC to AI entities with a minimum investment of INR 10 Cr. Scale-up support of INR 1 Cr would be provided along with other incentives notified in the industrial policy.

The state hogged the limelight over concern to its technological upgrade when a school in Kerala took a step towards a seamless AI-powered classroom with a robot teacher, in March.

Thiruvananthapuram-based KTCT Higher Secondary School is now home to a GenAI-powered saree-clad robot teacher, called Iris. The brainchild behind this robot is Kochi-based edtech startup, Makerlabs.

The Kerala government, in February, announced a number of measures and sops in the state’s Budget for 2024-25 to promote the local startup ecosystem. The Budget has earmarked INR 90.52 Cr towards the ‘Kerala Startup Mission’ to fuel startups in the state. Of this, INR 20 Cr has been set aside for the establishment of a ‘Technology Innovation Zone’ in Kochi.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.