Kerala CM Outlines Startup Vision for 2026: 15,000 Ventures, 1 Lakh Jobs

Kerala Chief Minister Pinarayi Vijayan has laid out an ambitious blueprint for the state’s startup ecosystem with plans to create 1 Lakh jobs through 15,000 new ventures by 2026, news agency PTI reported. 

“We aim to establish 15,000 startups and create one lakh employment opportunities by 2026,” he said in his inaugural address at the Invest Kerala Global Summit (IKGS) in Kochi. 

Vijayan noted that Kerala has demonstrated significant growth, with 6,200 startups set up in the last eight years, attracting investments of INR 5,800 Cr and creating 62,000 jobs.

The vision builds on Kerala’s growing startup ecosystem. In the February 2024 state budget, the government allocated INR 90.52 Cr for the Kerala Startup Mission (KSUM), with INR 20 Cr designated for a Technology Innovation Zone in Kochi and additional funding for youth entrepreneurship programmes.

The state has shown consistent commitment to startup development. KSUM, established as the nodal agency for startups, invested INR 15 Cr in energy transition-focused Transition VC in October 2024.

It plans to boost local retail businesses through technology adoption and modern management techniques to help them compete with ecommerce platforms. Additionally, KSUM will set up work pods targeting entrepreneurs from other states.

Kerala’s efforts have gained national recognition, with the state ranking among the best performers, alongside Gujarat, Karnataka, and Tamil Nadu, in DPIIT’s States’ Startup Ranking 2022. The state is also diversifying its focus, recently proposing a comprehensive AVGC-XR policy that aims to create 50,000 jobs by 2029.

According to Inc42 data, Kerala saw the launch of over 4,000 startups between 2016 and 2021, attracting VC investments of $551 Mn across 110 funding transactions during this period.