ENA State 2018-11-17 09:34:57 <p><strong>New Delhi, Nov 17 (KNN)</strong> A funding of $38 million in 2017-18 has been received by the Kerala start-ups, according to the Kerala Start-up Ecosystem Report 2018.</p> <p>The number of start-ups operating in Kerala, at the end of the third quarter of 2018 was more than 1,400.</p> <p>The total funding observed in 2018 (till September) stood at $38 million (disclosed).</p> <p>The report also stated that the number of funded start-ups in 2017-18 was 59.</p> <p>The report attributed the increase mainly to the change in institutional funding which had encouraged and supported the start-ups to progress.</p> <p>As of 2017, there were 757 tech start-ups in Kerala, with 51 per cent working on software development.</p> <p>Kerala Chief Minister Pinarayi Vijayan claims that the state is the first to have formulated a policy for technology start-ups back in 2014; today it has over 1,500 start-ups developing innovative products and services</p> <p>The report stated that the institutional funding, which stood at $9.5 million in 2014, was increased to $19.6 million in 2015.</p> <p>Since 2016, there has been a steady increase in the fund flow that came to $15.72 million from the first six months.</p> 21329 https://knnindia.co.in/news/newsdetails/state/kerala-start-ups-receives-funding-of-38-million-in-2017-18-report 2018-11-17 09:34:57 knnindia.co.in