Thiruvananthapuram: Budget unveiled a roadmap to strengthen state’s innovation ecosystem by placing startups, AI, research and digital infrastructure at the centre of its economic growth strategy.. Govt announced that Cyberpark, Kozhikode, will be upgraded to the level of Infopark, Kochi and Technopark, Thiruvananthapuram, as part of efforts to expand the state’s IT ecosystem beyond existing hubs. The revised budget provides an allocation of Rs 434.40 crore for the information technology sector. The budget proposes a series of initiatives aimed at creating high-value jobs, supporting entrepreneurs, and positioning Kerala as a leading technology and knowledge economy. A key focus is on nurturing startups across emerging sectors. The govt announced support for space technology startups by encouraging private satellite manufacturing and launch enterprises, improving the operations of Space Park and establishing specialized satellite research institutions to generate employment opportunities for young engineers. Rs 5 crore has been earmarked for the initiative. To promote entrepreneurship, existing incubation centres will be modernized and strengthened with management training, office facilities and seed capital support for startups and first-generation entrepreneurs. The budget has allocated Rs 10 crore for incubation centre activities. The govt also announced a Rs 50-crore Gen-Z and New Generation Technology initiative to strengthen startups, innovation hubs, research centres and smart industries by leveraging emerging technologies such as artificial intelligence, robotics, data science, the Internet of Things and virtual reality. An additional Rs 10 crore has been earmarked for a Malayalam AI Initiative, which will fund an open Malayalam dataset and support the development of Malayalam AI models for innovators. The budget further proposes a Global Job Watch Tower to identify future skill requirements in AI, digital technologies and advanced manufacturing, while a Kerala Knowledge Valley and Research Park are expected to strengthen innovation and industry-academia collaboration. MSMEs adopting innovative technologies will also receive tax incentives, technology funds and institutional support.
