Kerala’s Innovative Project to Support Elders to Open New Innings as Entrepreneurs, Mentors

THIRUVANANTHAPURAM:
Kerala Government has launched an innovative project called “New innings” to encourage and support elders with professional and technical expertise to turn entrepreneurs and mentors in the state’s thriving startup ecosystem.

The project, to be implemented through the Kerala Startup Mission (KSUM), is mainly meant for citizens of 50 years and above, with entrepreneurial interest, professional skills and experience in various verticals including high-tech domain.

Highlighting the significance of the project in Kerala’s sustainable and inclusive transformation, Chief Minister Shri Pinarayi Vijayan said “with New Innings, we are embarking on a new chapter where the knowledge and experience of our elders will not only ensure their future but also motivate and direct the aspirations of our younger generation. This is the foundation of Navakeralam, built on principles of dignity, innovation, and collective advancement.”

“Kerala has consistently held the belief that true development is achieved only when each generation is included in the journey of progress,” The Chief Minister added.

The government has sanctioned Rs 5 crore for the first phase of the project, which will be used for providing financial aid, technical support and marketing back up to the beneficiaries.

Announced in the state budget for 2025-56, New Innings holds great potential for Kerala’s growth in the prevailing situation, Finance Minister K N Balagopal said.

The scheme will facilitate 50-plus citizens with expertise in different sectors to start their ventures with the support of KSUM.

“Elders with domain knowledge and experience in various verticals will be able to contribute to the sustainable growth of Kerala through this innovative project. New Innings will also enable to leverage the expertise of seniors with proven professional track record to impart greater thrust to the state’s thriving startup ecosystem,” Balagopal added.

The scheme seeks to build a chain of innovative enterprises by leveraging the professional experience and skills of elders, thereby assuring their financial security and utilization of their expertise for the society. This is especially important in a state like Kerala where elders comprise a major segment of the population.

Professional expertise and experience of elders could also be an inspiration for young innovators and entrepreneurs including startup promoters. They include those retired from institutions like ISRO, DRDO, CDAC, KSEB and those worked in high-tech areas like electronics, AI and banking.

The project also aims at connecting startups with experienced professionals. It will bring roles to elders as professional consultants, advisors, board members and mentors. It envisages that over 1000 retired professionals could become advisors of startups and create at least 100 startups either led or partnered by senior citizens.

“This is a transformative project that will offer new and fruitful innings for senior citizens, from whose expertise and experience the entire society could benefit,” KSUM CEO Anoop Ambika said.

“World business history has many success stories scripted by elders. New Innings opens up opportunities for elders to become entrepreneurs and mentors to guide fledgling enterprises promoted by youngsters,” he added.

Under the New Innings startup grant, 50 beneficiaries are entitled up to Rs 2 lakh as idea- to- prototype grant, upto Rs 5 lakh as MVP to product grant and upto Rs 10 lakh as product to market grant. The New Innings fellowships offer up to Rs 25,000 as fellowship for developing 20 new ideas.

The startup advisors could earn up to Rs 10,000 as honorarium through Wisdom Bank set up as part of the project.

A fellowship scheme envisaging implementation of 20 new ideas per month is also part of the project, for which an amount of Rs 60 lakh has been earmarked.

For registration, please visit- newinnings.startupmission.in