First disbursement of funds for start-ups to be done in April : Kerala IT secretary

“The first disbursement of the fund as per the new schemes announced in the State Budget for hardware start-ups will be done in April,” said M Sivasankar, Principal Secretary (Electronics and IT).

He was speaking on the concluding day of the fifth edition of the two-day Seeding Kerala investment summit, organised by Kerala Startup Mission (KSUM).

Requirements

Delineating the problems faced by hardware start-ups in the State, Sivasankar said, “One of the fundamental requirements are huge working capital, which is traditionally not funded by Angels, VCs or HNIs. The banks have certain financial norms like collateral security for giving credit.”