Amid the towering coconut trees and sun-drenched landscapes, Thiruvananthapuram has undergone a remarkable transformation, emerging as a hub for innovation and entrepreneurship in recent years. The city is home to 3,500 startups, according to estimates.
Kerala attracted about $250 million in startup investments in 2022. According to Panicker, a large portion of this capital went to startups based in Thiruvananthapuram, demonstrating investor confidence and interest in the region. This infusion of capital has fuelled innovation, infrastructure development, and job creation. there are many advantages of being located in a smaller city. While in bigger ecosystems such as Bengaluru, companies can hire easily, they often have a tougher time controlling cost, or even in retention of top talent,
Why Thiruvananthapuram is chosen as a startup hub?
The city was once considered a quiet town with limited commercial activity, while Kochi took the spotlight as Kerala’s commercial hub. What was pivotal to the change is perhaps the government establishing the special economic zone (Technopark) and a nodal agency called the Kerala Startup Mission in the first decade of this millennium.
The long stretch that spans from the Technopark to the city’s airport has now become a clear IT startup corridor. It has nearly run out of office space and is extending beyond to the neighboring town of Attingal. There is a big queue of hundred-plus companies asking for space in the two large complexes of Technopark, which total about 300 acres. A third complex, another 100 acres, is yet to open. But it has nearly been fully leased out.
Established startups in Thiruvananthapuram
Genrobotic is the most well-known new-age startup in the city. But there are plenty of other success stories.
CareStack, a dental practice management software startup, is one of them. The company reportedly raised more than $50 million last year, opened a second office in the US, and announced a strategic tie-up with the Straumann Group, the world’s leading manufacturer of dental implants and devices.
They initially operated exclusively in the city for seven years before expanding to smaller offices in Kochi, Bengaluru, and the US.
Read our more blogs on CEFinsights
