Celebrating One Lakh Enterprises Milestone Achievement at Directorate of Industries & Commerce

            Hon’ble Minister for Industries, Law and Coir, Shri. P. Rajeev, visited the Directorate of Industries and Commerce on 08 th December 2022 to celebrate the milestone achievement of registering 1,00,000 new enterprises in Kerala as part of the Year of Enterprises Initiative of the Government. Minister congratulated the admirable teamwork and commitment shown by the officers and staff of Industries and Commerce in achieving the historic milestone in the remarkable period of 250 days from April 1 to December 7, 2022.

Dreamvestor Launch

The Department of Industries and Commerce launched an initiative named “DREAMVESTOR” to provide opportunity for aspiring entrepreneurs to pitch their unique business ideas and explore the opportunities in the growing business world. The launch event was held on 24th November at the Mascot Hotel in the esteemed presence of the Hon’ble Minister for Industries, Law & Coir Shri. P. Rajeeve. The Principal Secretary, Industries Shri. A.P.M Mohammed Haneesh IAS and Director, Directorate of Industries and Commerce, Shri Harikishore S IAS were also present at the event.

Hon’ble Minister said that the initiative was designed with the aim to help entrepreneurs between the age of 18-35 to build better connections for their business endeavors and open new doors to the investment world. During the event, the Director briefed about the procedure for submitting the application through online portal and mentioned that the aim of this program was to promote new talents who have unique and innovative business ideas. The game has 4 levels in total and the ideas which reach the final stages will be granted financial rewards up to Rs. 5 lakhs.

Level 1: All contestants are required to submit their innovative business ideas by 23rd December 2022, to be considered for Dreamvestor’s first round.

Level 2: The selected 100 entries should send pitch elevator videos about their business plan that do not exceed more than 2 minutes. Last date to upload this is on 30th January 2023.

Level 3: Their will be 50 contestants chosen for the third round of Dreamvestor. The chosen participants at this round must outline their marketing plans for the business plan by 12th February 2023.

Level 4: 20 finalists will be presenting their business plan to the jury members of Dreamvestor offline on 1st March 2023.

The reward for the 1st prize winner shall be Rs. 5 lakhs, 2nd prize winner shall be Rs. 3 lakhs and the 3rd prize winner shall be Rs. 2 lakhs. The next 7 finalists and the remaining 10 finalists shall be receiving a prize money of Rs. 1 lakh and Rs. 25,000 each respectively.  

Year of Enterprises 2022-23: Historic achievement of establishing One Lakh units in 250 days

        Hon’ble Minister for Industries, Law and Coir announced on 08th December 2022, the milestone achievement of registering 1,00,000 new enterprises in Kerala as part of the Year of Enterprises Initiative of the Government. The Financial Year 2022-23 is observed as the Year of Enterprises. The Industries Department has undertaken a slew of activities for promoting new enterprises in the State. The proud achievement of one lakh new enterprises has been achieved in a period of 250 days from April 1 to December 7, 2022. As part of this, an investment of Rs 6274 crore and 2,20,285 new employment opportunities were created in the state.

         Ernakulam district leads in terms of number of enterprises, investment and employment opportunities. Malappuram and Thrissur districts bagged the second and third positions. More than 9000 enterprises have been started in Kollam and Thiruvananthapuram districts. 13000 units have been started in the industrially backward districts of Pathanamthitta, Kasaragod, Wayanad and Idukki and more than 28000 jobs have been created. One-third (31,785) of the newly started enterprises are owned by women entrepreneurs. One lakh also includes 4678 new ventures promoted by entrepreneurs belonging to Scheduled Castes/Scheduled Tribes.

PM Formalization of Micro Food Processing Enterprises Scheme: 2nd Review

           The Second Review Meeting of the PMFME Scheme chaired by the Director (Industries & Commerce) was held from 10:00 a.m. to 1:00 p.m. on December 8, 2022 (Thursday) at Galaxie Hall, Hotel Horizon, Aristo Junction, Thiruvananthapuram. All the concerned District Nodal Officers (DNOs) and District Resource Persons (DRPs) from all the districts attended the review meeting. As part of improving the performance under the PM FME Scheme and to bridge the gaps, the Department of Industries & Commerce, Government of Kerala is closely following up with the DNOs and DRPs to aid the process of achieving the said target for the State under the PM FME Scheme.

Over 50,000 Enterprises registered in 145 days as part of One Lakh Enterprises Initiative

Hon’ble Minister for Industries, Law and Coir announced on 26^th August the milestone achievement of registering 50,000 new enterprises in Kerala as part of the One Lakh Enterprises initiative of the Government. The Financial Year 2022-23 has been declared as the Year of Enterprises. The Industries Department has undertaken a slew of activities for promoting new enterprises in the State and as part of this, 1153 professionals are appointed in all local bodies to identify and handhold aspiring entrepreneurs in starting the enterprises by availing the services offered by various government departments, agencies, PSUs and banks.

The achievement of registering 50,000 new enterprises was achieved in a remarkable timeframe of 145 days.Investment worth Rs. 2970 Crores and 1,10,185 new jobs have been created in the State as a result.Malappuram tops the list in the number of units (5743) followed by Ernakulam (5282).More than 4000 units have registered in Thiruvananthapuram, Palakkad, Kollam, Thrissur and Kozhikode districts. Kasaragod, Wayanad and Idukki districts combined have registrations over 4000 units and created more than 8000 jobs.

One third of the newly formed enterprises (16038 units) are promoted by women entrepreneurs. 2300 new enterprises promoted by SC/ST entrepreneurs are also among the 50,000.

The top sectors in which new enterprises have formed are as follows:

In the loan, license, subsidy campaigns that are taking place at local body levels as part of the initiative, loan applications worth Rs. 9 Crore and 1326 license applications have been approved. Number of subsidy application processes has crossed 850.