The State Of Kerala Startup Ecosystem Report 2022

The State Of Kerala Startup Ecosystem Report 2022

Between 2016 and 2021, over 4K startups were launched in the Kerala startup ecosystem. 95% of startups have been established in the last five years (2016 to 2021). In addition, the state has seen a total venture capital inflow of $551 million across 110 funding transactions.

For more than a decade, Kerala has been known for its proactive approach to assisting startups. The state’s distinct socioeconomic factors, such as a high literacy rate and per capita income, allow it to cultivate the country’s most promising startup ecosystem.

The purpose of this report is to quantify the growth of the state’s local startup ecosystem as well as the impact of initiatives spearheaded by the state’s Kerala Startup Mission (KSUM) on the entrepreneurial ecosystem.

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The State Of Kerala Startup Ecosystem Report 2022

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights


aspiring entrepreneurs

$551 Mn+

total venture capital inflow since 2014


employment created by local startups

$101 Mn+

fund of funds established by the state government

Table Of Contents

  • Kerala Startup Ecosystem: Key Highlights
  • The Rise Of Kerala’s Startup Ecosystem
  • New Startup Launches In Kerala
  • Startup Investments & Deal Count In Kerala’s Startup Ecosystem
  • The Startup Enabler Ecosystem In Kerala
  • Schemes & Policies Introduced By The State Government
  • Notable Investors Backing Kerala Startup Story
  • Kerala: A Look At The Key Development Indicators
  • A Growth Journey From Formal Economy To The Startup Economy
  • List Of 29 Startups To Look Out For In Kerala
  • Emerging Trends And Upcoming Initiatives From Kerala Government
  • Government’s Role In Enabling The Future Of State Startups
  • Decoding KSUM’s Handbook For The Future
  • Upcoming Programmes For Startups In Kerala


Kerala Startup Mission can help India position itself as a technological powerhouse competing with the best in the world and offering the best facilities, attracting more and more creative minds to the country. Kerala outperforms other startup hubs in terms of scope of investment and growth for Indian hardware startups, which account for less than 1% of total capital raised by Indian startups between 2014 and H1 2022. Hardware product/service-focused startups in Kerala, on the other hand, have raised $15.2 million, or 3% (exactly 2.7%) of the total $551 million raised since 2014. Much higher than the country's leading startup ecosystems, such as Bengaluru (0.03%), Delhi NCR (0.92%), and Mumbai (1%).

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