Thiruvananthapuram: The response to the concept of 'Startup Village' is exciting and more youngsters are showing interest in investing their creativity and talent in Kerala with the coming up of the incubator in Kochi, an official said here Tuesday.
Speaking to reporters here, Sanjay Vijayakumar, chairman of India's first telecom business incubator on Public-Private Partnership, said the Rs 100 crore incubator in a 15,000 sq ft campus in Kinfra High Tech Park in Kalamassery had received around 1,000 applications so far.
"We expected to receive 1,000 applications within 10 years. But surprisingly we received more than 900 applications in the initial two months itself. After scrutiny, we have so far accepted 324 companies to our system," he said.
'Startup Village', envisaged to incubate at least 1,000 product start-ups over 10 years, is the brainchild of a group of young engineering graduates including Sanjay Vijayakumar.
"There are around 5,000 start-ups world over, in which 2000 are in United States and 1000 are in China. India has only 65 such facilities and the Government of India is trying to enhance the number to 1,000," he said.
The facility would focus on internet and telecom sectors, though they had received a variety of proposals ranging from mobile apps to those related to robotic technology, he said.
The 'production companies' would gain prominence in India in the coming years and so the 'start up village' decided to support production companies, the entrepreneur said.
"In Silicon Valley, there are only 'production companies'. But a majority of big companies in India are service companies like Wipro and HCL. The next revolution which is set to happen in the country will be the mass arrival of production companies," he said.
Unlike service companies, production companies would take at least three years to yield result.
Though India has quality manpower and human capital, the country is 40 years behind the Silicon Valley in terms of infrastructure and eco-system for innovations, he said.
"People in Silicon Valley may have the same intelligence as we have. Though we have human capital, we do not have adequate infrastructure. Our eco-system is also wrong. We have to bridge this gap," he said.
The 'Startup Village' needs more infrastructure and it required at least two lakh sq ft to meet the demands, the young entrepreneur added.