The report was released on Tuesday by Startup Genome, a start-up policymaking firm, and the Global Entrepreneurship Network. The report is part of London TechWeek, a global initiative involving government agencies, corporates and startup investors. According to the first GSER report released in 2020, Kerala was ranked fifth in Asia. And twentieth place globally. From this position, Kerala came first in Asia in two years.
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The report measures the ability to nurture and retain people with technical knowledge. The report highlights the growth and economic growth of the startup sector in Kerala. Mark Pencil, Founder CEO, Startup Genome, said:
John M Thomas, CEO, Kerala Startup Mission, said that the new ranking will help the state to establish a large start-up network in Kerala and support economic growth.
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It is estimated that a startup ecosystem worth `1037.05 crore could be set up in Kerala from 2019 to 2021. According to the report, Kerala government assistance and financial assistance schemes have helped the growth of start-ups in the state.