Kerala: KSIDC Start-up incubation center at UL Cyber Park to be closed soon
The KSIDC (Kerala State Industrial Development Corporation) start-up incubation center located within UL Cyber Park in Kozhikode is set to be shut down by the month’s end. An announcement has been made to the resident startups, leaving approximately 100 entrepreneurs from 20 companies facing an uncertain future. Established in 2017 to foster IT entrepreneurship, the center’s closure follows KSIDC’s decision not to renew its lease with UL Cyber Park.
Priced at Rs 4012 per square foot, the 4,000 square foot space provided startups with prime office facilities and a conference hall. Despite the success stories, many expressed that the rewards didn’t always outweigh the costs. KSIDC’s MD, S Harikishore, mentioned that the move was prompted by the realization that running the incubation center isn’t aligned with KSIDC’s core operations. Ongoing discussions with the Start-Up Mission could potentially influence the final decision regarding the center’s future.
