MyEnterprise - First Non-IT Startup Focused Incubation Hub

Kerala on Friday saw the launch of an IT initiative which will work towards mentoring of non IT entrepreneurs, right from just an idea to a successful business venture. The initiative was launched by a technical consultancy firm KITCO.

The IT initiative is called 'MyEnterprise' and will cover areas like waste management, fisheries, ayurveda, biotechnology, fashion technology, agriculture and food processing. KITCO managing director Cyriac Davies and associate principal consultant K.C. Chandrashekharan Nair were present at the time of the launch.

KITCO was established by Industrial Development Bank of India in association with other state and national level financial institutions, seven public sector banks and the government of Kerala in 1972. It was established with an aim of rendering services to government departments/PSUs, entrepreneurs and local bodies.

Under 'MyEnterprise', KITCO has decided to provide the entrepreneurs with space, shared resources, business infrastructure and training market access. The initiative is open to anyone and everyone who is passionate enough to work hard towards fulfilling their dreams of owning a successful business.

“We plan to incubate, mentor, and handhold about 10 startups in the first year and we have a special focus on encouraging women entrepreneurs”, said Davies at the launch.

KITCO is also in the midst of setting up a KITCO Innovation fund, which is a crowd funding initiative. The KITCO innovation fund will work towards providing support to emerging startups. It will be formed with the help and support of successful businessmen, organisations and institutions based in Kerala who are eagerly interested in innovation and entrepreneurship development in the state.

Nair, the associate principal consultant at KITCO will spearhead the IT initiative ‘myenterprise’. He has also headed Kerala’s first incubator Technopark TBI.  According to him, “We intend to provide the youth with seed capital, marketing and professional assistance besides enable the aspirants to meet the experts in the industry and masters of trade.”

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