Inaugurating the KFC Startup Conclave 2024, Finance Minister K.N. Balagopal said on Thursday. The minister added that there will be a new limit of Rs 3 crore for unsecured loans to scale up startups compared to the previous Rs 2 crore.

KFC officials said that the KFC Startup Conclave 2024 was organized to foster innovation and collaboration in Kerala's startup ecosystem. KFC supports startups through the 'KFC Startup Kerala' scheme. Till date, it has disbursed Rs 78.52 crore in loans to 61 technology-based startups. This year, the firm plans to help 100 more startups.

Sanjay Kaul, Chairperson and Managing Director, KFC, said that KFC has recorded growth and financial stability in the last three financial years. Net profit increased by 957.14% (from Rs.6.58 crore to Rs.74.04 crore) and loan portfolio expanded from Rs.4,621.12 crore to Rs.7,368.32 crore.

Awards for startups were distributed at the event. Navalt Solar and Electric Boats Pvt Ltd won the Green Energy Startup of the Year Award and Genrobotic Innovations Pvt Ltd won the Social Impactor of the Year Award. The EduTech Startup of the Year and Emerging Startup of the Year awards were won by Viscom Nurture Pvt Ltd and Katha Infocom Pvt Ltd respectively.

District Panchayat President D. Suresh Kumar presided. Anoop Ambika, CEO, Kerala Startup Mission Bhubaneswari, SBI Chief General Manager G. S.N. Raghuchandran Nair, Thiruvananthapuram Chamber of Commerce and Industry President Dr. Tie Kerala Executive Director Arun Nair and others participated.