In 1997, Valayil Korath Mathews flew down to Thiruvananthapuram from Dubai, where he worked as the IT head of leading airline Emirates, to establish IBS Software at Technopark, India’s first IT park. Then 40, Mathews kept the decision under wraps — only his wife knew about the decision to leave Emirates — as he quit a high-profile job and a luxurious life in the Gulf. In its 27th year, IBS Software is now valued at nearly Rs 12,000 crore, a successful venture made in Kerala.
In an interaction with , Mathews explains the journey and why Kerala is an ideal destination for high-end IT jobs Unlike today’s startups, I started IBS after 15-17 years of corporate experience. At 40, I had worked with Air India and Emirates, and understood the aviation industry’s problems in the 1990s. Despite being an early adopter of technology, the industry’s systems were outdated, built for a different era.
This unmet need, coupled with a small number of IT suppliers (only IBM and Unisys), presented an opportunity. With my industry expertise, I decided to establish a company providing cutting-edge technologies specifically for aviation. This motivation brought me to India, where technology was emerging.
Bengaluru, Chennai, and Pune were the hubs then. But a cousin at IIT suggested Technopark. In 1996, I visited Technopark, which spanned 100 acres with lush greenery and a few buildings.
Its scenic beauty and potential impressed me. I needed a location that would appeal to international c.