Startups get their mojo back

In May, SectorQube, a startup based in Maker Village, the electronic hardware incubator, started manufacturing a product called Cogun that would help reduce unwanted contact with surfaces like doorknobs and elevator buttons. It wasn’t rocket science but it was merely responding to the market situation.
In a year that challenged their resilience, startups in the state showed resolve attracting more deals than ever.And the pandemic only provided them an opportunity to expand their portfolio. “There were simple improvisations, elegant customizations and fair innovations, starting from robotic solutions to simple smart touch devices. Most of these products touched the market and some even got exported,” says Prasad Balakrishnan Nair, CEO of Maker Village.
Among the practical solutions that hit the market were N95 respirators, sanitizing wipes and sprays. Companies designed and deployed bots that could assist with disinfection and delivery of meals in Covid facilities and carry out mass detection and fever monitoring in public spaces. “Startups faced a lot of difficulties, especially those catering to sectors like transportation and tourism. But most of them quickly adapted to the new situation. They were also able to raise funds despite the odds,” says Sasi P M, CEO of Kerala Startup Mission (KSUM).
Many hardware startups had trouble setting up distributor networks and sourcing components. Robin Alex Panicker, venture partner at Unicorn India, feels many startups expected things to take a turn for the worse but that never happened. “The number of deals is higher than last year though funds raised may be less,” says Panicker. According to KSUM officials, startups in the state raised around Rs 412 crore in 2020. It was also the year success stories stopped revolving around major cities. VConsol, a product developed by Cherthala-based Techgentsia Software Solutions, won a national innovation challenge with prize money of Rs 1 crore.