Start-Ups Current Affairs - 2020

Kerala Government launches Kerala Accelerator Program for early-stage startups

Kerala Government has introduced Kerala Accelerator Program, a virtual accelerator program for three months, to promote startups in the early revenue stage. It was launched by Kerala Startup Mission (KSUM) in association with Zone Startups India.

Kerala Accelerator Program

This program will help startups achieve product-market fit through a curated customer validation process. It will introduce startups to investors, relevant customers and industry connects. It will provide both live and virtual mentoring sessions.

Under, it mentors will visit state capital Thiruvananthapuram and Kochi to interact with selected startups. It also provides a one week residential program in Bangalore and Mumbai to selected startups. It also provides weekly reviews, customer interactions and an end-of-programme ‘demo day’ with investors.

Zone Startups

Zone Startups is global brand of early stage tech accelerators and venture funds operated by Toronto based Ryerson Futures Inc. Its Indian subsidiary has been set up as joint-venture of Ryerson Futures Inc., Simon Fraser University (Vancouver), BSE Institute Limited and Department of Science and Technology (Government of India).

Cabinet approves MoU on India-Israel Industrial R&D and Technological Innovation Fund

The Union Cabinet approved Memorandum of Understanding (MoU) to set up US $40 million India-Israel Industrial R&D and Technological Innovation Fund (I4F). The MoU was signed in July, 2017 during Prime Minister Narendra Modi’s visit to Israel.

India and Israel will make contribution of US $4 million (Rs.25 crore) each for Fund, both equivalent amount, annually for 5 years. The fund will be governed by joint Board which will consist of 4 members from each country.

Key Facts

The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation between both countries in fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, processes or services.

Such collaborative projects will lead to affordable technological innovations in focus areas of mutual interest such as agriculture, water, energy and digital technologies. These projects will also provide institutional support in building up consortia including private industry, enterprises and R&D institutions from India and Israel.

The activities supported by the Joint I4F Fund will increase the techno-economic collaboration between both countries by investing in jointly developed technology projects and collaborations based on technological innovation.

It will encourage Israel-Indian joint projects that capitalize on both the national and global marketplace. It will provide a comprehensive set of support tools to encourage joint projects. It will foster and strengthen eco-system of innovation and techno-entrepreneurship in India and will contribute directly to the Start-up India programme.