"Innovate Karnataka" initiative

Posted by P. Charitha on September 18th 2016

With a view to put Karnataka in the world’s top 10 startup destinations, the Govt. of Karnataka as part of its Karnataka Startup Cell has committed to invest Rs 400 crore through its “Innovative Karnataka” initiative and mobilize Rs 2,000 crore by 2020. The State is already known to be a science city, startup, IT and BT hub and innovation and R&D hub.

More than 1400 registrations have been completed and close to Rs 10 crore have been disbursed as part of giving a boost to the startup ecosystem. Apart from IT innovations they have also funded an aerospace company.

Mobilizing the funds would be done by the government and private partners like banks and the Govt. is looking at private partners like SIDBI, ICICI, HDFC, HUDCO etc.

Photo Credit: kla.kar.nic.in

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