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TMI BlogKSUM denies Satheesan's 'paid report' claim, defends Startup Genome reportX X X X Extracts X X X X X X X X Extracts X X X X ..... KSUM denies Satheesan's 'paid report' claim, defends Startup Genome report X X X X Extracts X X X X X X X X Extracts X X X X ..... agency asserted that the report was the result of independent and unbiased research. Addressing a press conference here, Satheesan alleged that the Startup Genome report, which claimed that Kerala's startup ecosystem had experienced unprecedented growth, was even presented by Chief Minister Pinarayi Vijayan at the investor summit. "This report was used to assert that the startup ecosystem had ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... panded significantly. However, such a report was created by paying Startup Genome. Kerala Startup Mission (KSUM) is a client of Startup Genome and has been making payments to the company since 2021," he alleged. The Congress leader said that since 2021, KSUM has paid Startup Genome a total of USD 48,000, including USD 13,500 in 2021, USD 4,500 in 2022, and USD 15,000 each in 2023 and 2024. "In t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otal, USD 48,000 has been paid to Startup Genome. Now, a report that was paid for is being highlighted as evidence of growth," Satheesan alleged. Responding to allegations, KSUM said the Startup Genome is an organisation having worked with more than 160 economic and innovation ministries and public/private agencies in over 55 countries. Its reports enjoy irrefutable credibility and acceptability ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as Startup Genome is reputed as a totally independent organisation that does not give in to any external influence or bias, the statement said. KSUM said Startup Genome reports are monitored closely by innovation ecosystems the world over for understanding the good practices of governments, innovation agencies and startup clusters, and formulate development strategies in the light of the insight ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s provided by them. It further said Kerala has been a member since 2021 and has given USD 48,000 as membership fee so far over a period of four years. Apart from Kerala, states like Tamil Nadu, Karnataka and Telangana are also members. "What makes the Startup Genome reports different is the high credibility it enjoys the world over. Its reports are drawn up and published on the basis of primary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and secondary level research and data analysis," the statement said. The Startup Genome report regarding Kerala has found that the state's startup ecosystem recorded a phenomenal growth of 254 per cent in value terms in the second half ( H2) of 2021-23 compared to H2 2019-2021. The report also found that Kerala stood fourth for availability of Affordable Talent in Asia. "The credibility of the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tartup Genome report on Kerala remains unassailable when it is read in conjunction with the coveted achievements made by the ecosystem. Kerala was rated as a top performer by the Centre's ranking in 2018, 2019 and 2020. In 2022, Kerala emerged as the Best Performer State along with Tamil Nadu and Karnataka in the Startup Ranking Framework of the central government," the statement said. KSUM said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the number of registered startups have also grown impressively during this period. "In 2019, 594 startups were newly registered in Kerala, which steadily went up to 669 in 2020, 899 in 2021, 1,069 in 2022, 1,294 in 2023 and 1,128 in 2024 as per government of India's statistics," it said. As per the Government of India's official data, the total number of startups in Kerala now stands at 6,304. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s per the KSUM data, the startups in the state received funding to the tune of Rs 826 crore during 2019-20. This steeply increased to Rs 3,880 crore during 2021-22, marking a phenomenal growth of 369 per cent, it said.
These facts clearly show that the growth story of Kerala’s startup ecosystem is not a hyped one, going by any of the parameters, the statement added. PTI TGB TGB KH X X X X Extracts X X X X X X X X Extracts X X X X ..... s release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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