The cabinet has decided to register Kerala Space Park as a Society by the name K-Space, under the Travancore Cochin Literary Scientific Charitable Societies Registration Act, 1955.
The government also decided to hand over 18.56 acres from the land owned by the Technopark in the capital for the space park society. The cabinet has also decided to grant Rs 2 crore as seed capital for the society.
The draft agreement and the rules of the proposed society have been cleared by the government. The cabinet also decided to create 10 posts on contract basis in the new society. Those employees who are in excess in the IT parks, Kerala Startup Mission and Kerala State IT Ltd will be given priority for appointment in the society on contract basis.