Startup Commons to offer technical and business support services to entrepreneurs
- ByStartupStory | December 2, 2022
The Kerala Startup Mission (KSUM) is gearing up to set up Startup Commons, a unique one-stop-shop platform of agencies and individuals offering technical and business support services vital for start-ups. Among the services to be offered include business support, technical support, business promotion, investment support, and launchpad partner. The KSUM is likely to invite Expression of Interest this month from individuals and agencies willing to work with start-ups. The programme will be rolled out by February.
Initially, we will list the various service providers from lawyers and HR professionals to marketing consultants and content creators under the Startup Commons. The idea is to eventually turn it into an online platform to be rated by the users,” said Anoop P. Ambika, Chief Executive Officer, KSUM.
The concept of Startup Commons evolved after it was noticed that the start-ups often overlook various obligatory regulatory and compliance formalities. In many cases, they fail to register with the Registrar of Companies, maintain annual accounts and audited reports in compliance with book-keeping norms and comply with taxation-related regulations. This create problems when a big-ticket investors come calling. At that point, the entrepreneurs will have to run around and the delay may also result in them missing out on the investment.
The possibility of offering services under Startup Commons free of cost during the first year of the start-ups is also being considered. “We have often come across complaints about the dearth of quality and viable vendors for assisting start-ups. Startup Commons, among other things, proposes to bridge this gap. It may also eventually help create a service economy around the start-up ecosystem, thus generating jobs,” said Mr. Ambika.
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