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Kerala Government Extends Support For Startups

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Kerala Government Extends Support For Startups,Startup Stories,2017 Business Updates,Kerala Government Financial Support For Startups,Financial Support for Startups in Kerala,Kerala Startup Mission,KSUM Manager Ashok Kurian Panjikaran,Startup Village Entrepreneurship Program,Kerala Government News

The Kerala Government will now be providing financial support to startups for seven years. The Government announced financial support for startups will be extended by 2 years from the existing five years, in line with Startup India’s definition of startups.

Benefits such as access to subsidized office facilities will also be extended as a part of the move to give a boost to tech based product development startups currently operating in Kerala. At present, there are 757 technology startups registered with the Kerala Startup Mission (KSUM,) the implementing agency for entrepreneurship development and incubation activities. According to a recent study, only a few startups have managed to earn a profit. Therefore, this decision to extend the benefits aims to help the startups and reduce their extra financial burden as well.

Speaking about the extension, KSUM Manager Ashok Kurian Panjikaran said, “KSUM focuses on developing product based companies and the extension will suit our requirements.” According to startup entrepreneur Robin Alex Panicker, product development companies take longer to build when compared to services companies. Without subsidized office facilities and other benefits, the cost of a startup company will increase significantly after the incubation period.

KSUM is also read to launch the Youth Entrepreneurship Development Programme (YEDP.) Armed with State funding of Rs. 20 crores, YEDP aims at developing technology led innovation and entrepreneurship among schools, college students and aspiring entrepreneurs. The selected startups will also be receiving the funds by next month.

Kerala was one of the first states to adopt a Startup Mission for implementing the entrepreneurship development programmes in the state. The technology startup policy was also launched in 2014 with the aim of building an entrepreneurial society in Kerala. In July this year, the Kerala Government also allotted 12 new projects as a part of the Startup Village Entrepreneurship Program (SVEP.) Over 2,000 startups operating in the State will be offered financial as well as technical support under this initiative. With this programme, Kerala became the first state in India to have introduced SVEP project in all its districts.

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OYO Achieves Record Profitability in FY25 with Deferred Tax Boost and New Corporate Identity

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OYO, India’s leading hospitality startup, has retained strong profitability in FY25, driven by a significant deferred tax gain and a bold corporate identity overhaul. The company’s net profit surged to ₹623 crore, marking a 172% year-on-year growth, with adjusted EBITDA reaching ₹1,132 crore a 27% increase from the previous fiscal. Total revenue rose by 20% to ₹6,463 crore, propelled by strategic expansion in premium segments and the integration of G6 Hospitality into OYO’s growing portfolio.

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Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

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NCLT Approves Amalgamaxtion of Info Edge Subsidiary Makesense with PB Fintech

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The National Company Law Tribunal (NCLT) has granted approval for the amalgamation of Info Edge’s subsidiary, Makesense Technologies, with PB Fintech as of August 29, 2025, in a significant move for India’s fintech sector. This strategic merger aligns with Info Edge’s ongoing focus on streamlining its corporate structure and supports PB Fintech’s growth trajectory as the operator of leading platforms such as Policybazaar and Paisabazaar. The amalgamation, cleared by NCLT’s Chandigarh bench, took place without winding up either company, enabling a seamless blending of assets and expertise for greater operational efficiency.

In the specifics of this deal, Makesense Technologies—holding a 13.04% stake in PB Fintech as of June 2025—will see its shareholders allotted 59,750 equity shares and 60,030 compulsorily convertible preference shares from PB Fintech, with no change to Info Edge’s underlying economic interest. The consolidation is expected to cut compliance and administrative costs, simplify the equity structure, and enable both companies to focus on core business strengths without duplication of resources. This move is designed to strengthen PB Fintech’s position in India’s fast-evolving fintech and insurance market, while keeping Info Edge’s investment objectives intact.

The NCLT-approved merger highlights a broader trend of consolidation within India’s tech-driven industries, as major players seek to boost competitiveness and achieve sustainable growth through mergers and amalgamations. Stakeholders—including shareholders and employees—are set to benefit from the new, streamlined structure, increased transparency, and the promise of enhanced value creation going forward. The unification of Makesense Technologies and PB Fintech is expected to make a positive impact on the broader fintech ecosystem, reinforcing both companies’ leadership and innovation agendas.

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