Case Study of the Day: Kerala government’s Year of Enterprises project

Background

• The Kerala government has launched the Year of Enterprises (YOE) project in 2019 with the goal of promoting entrepreneurship and innovation in the state.
• The project was implemented by the Kerala State Micro, Small and Medium Enterprises Development Corporation (MSME-EoDB).

Challenges for the project

• A lack of awareness about entrepreneurship among the youth
• A lack of access to finance for entrepreneurs
• A lack of support for entrepreneurs in terms of training and mentoring

Solution

• A public awareness campaign to promote entrepreneurship among the youth
• A scheme to provide interest-free loans to entrepreneurs
• A network of incubators and accelerators to provide training and mentoring to entrepreneurs

Results

• The Year of Enterprises project has been successful in promoting entrepreneurship in Kerala. The number of new businesses registered in the state has increased by 20% since the launch of the project. The project has also helped to create over 100,000 new jobs.

Recommendations

• Expanding the public awareness campaign
• Increasing the amount of funding available for entrepreneurs
• Strengthening the network of incubators and accelerators

Conclusion

• The Year of Enterprises project is a successful example of how the government can promote entrepreneurship and innovation.
• The project has helped to create a more entrepreneurial ecosystem in Kerala, which has led to increased economic growth and job creation.

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