Kerala State Industrial Development Corporation (KSIDC) has picked up the 12 promising start-up ventures from more than 1,000 applicants. Of this, three start-ups -- 3Q Mentors, Blackwash Labs and Zybotech – unveiled their products, which have been developed in less than a year at the KSIDC business incubator.
A business incubator is a facility which helps new and start-up companies to develop by providing services such as management training, office space and seed funding.
Later speaking to reporters on the sidelines launching function, M.Beena, Managing Director, KSIDC said that the Corporation is all set to launch three new business incubators at Angamaly, Kozhikode and Thiruvananthapuram. The 5,000 sq ft facility will be for businesses, other than IT and will be launched in three months at INKEL Towers in Angamaly.
To start these incubators, the Corporation is looking for space at Kozhikode and Thiruvananthapuram which include an incubator exclusively for women at the capital. As part of providing funding support to start-ups, KSIDC has already provided ₹25 lakh each to four companies from the ₹10 crore seed fund.
According to her, the second edition of Young Entrepreneurs Summit (YES) will be held in Kochi focusing more on venture capital and angel funding, technology and mentoring.
3QMatrix-developed by 3Q Mentors is a software developed to measure the functional efficiency level of the student. The mobile shopping app-50-fifty developed by Blackwash Labs lets the users know about the latest discounts and offers around them wherever they go.
Zybotech has developed Track-on Pro, a smart phone based employee tracking and collaboration system specifically targeted at the SME segment.