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Startup Village Has Produced 533 Startups So Far And Going

Startup Village has been giving wings to the dreams of young entrepreneurs of Kerala ever since the time it was established in the year 2012. The Kochi based incubator, which is India’s first PPP model internet-mobile incubator, is now churning out one entrepreneur a day, according to a statement given to PTI by a top official.

By the end of last year, the incubator had been successful in producing 533 startups, out of which 116 were college startups. It has also successfully created a total of 2,889 jobs since its inception.

The incubator, which completed thousand days in January, has registered a quarter to quarter growth of forty percent in applications received from new startups. The total valuation of the incubator’s startups is pegged at a whopping Rs. 292 crores.

Since the incubator’s inception in April 15, 2012 to December last year, it has received a whopping 6,491 application requests.

“37 startups have raised Rs 27 crore in funding from angel investors, private backers and seed funds and 161 have raised initial seed money from friends and family,”  said Sanjay Vijayakumar, Chairman, Startup Village in a statement to PTI.

He further said that the incubator has been able to build a great ecosystem focused on early stage startups.

According to him, the incubator has a huge scope for growth and if the constraints of funds and infrastructure are resolved, India might be able to get its own Silicon Coast.

According to data available, the incubator had incubated a total of 960 startups till the end of the last year. This comprised of 58 physical startups and 902 virtual startups. Out of these 960 startups, a good 533 are currently active. Of the 58 physical startups incubated till now, two failed and 56 are currently active. On the other hand, of the 902 virtual startups, 355 are inactive and 477 active, while seventy of them were aborted.

"Survival of physically incubated startups is 96.5 per cent and of virtual 53 per cent, which shows that a physical ecosystem substantially increases the chances of a startup doing well," said Vijayakumar.

Speaking about student startups, he said of the 293 student startups incubated till now, 116 are currently active, 149 inactive and some 28 fizzled out midway.

Scarcity of funds accounted for eighteen percent of the mortality of these students startups.

According to Vijayakumar, "Lack of family support (10.5 per cent), well-placed jobs (43 per cent), unviable business idea (11 per cent), competition from a better player (7 per cent) and pursuit of higher studies (3.5 per cent) were among the other major factors that aborted some of these startups.”

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