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KSUM launches ambitious project to create UID codes for startup ventures
Business

KSUM launches ambitious project to create UID codes for startup ventures

Agency News

Thiruvananthapuram, Apr 27: Kerala Startup Mission (KSUM) has launched an ambitious project to create Unique ID (UID) codes for startup ventures in the state, which will enable them to connect easily with any stakeholder from the startup eco-system from across the world.

The UID will help the startups to be identified with a single code to be used in all communications from the single search option provided in the KSUM portal. In future all the schemes of KSUM and all communications with it will be through the UID only.

Any startup incorporated as a private limited company or registered as a partnership firm or a limited liability partnership is eligible to apply for getting the UID. The turnover of the startup should be less than Rs 100 crore in any of the previous financial year.

The startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment and create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a "startup." Under the project, an entity shall be considered as a startup up to 10 years from the date of its incorporation. (UNI)