Karnataka minister rolls out 3 strategic initiatives to promote start-ups

Recently, Karnataka’s Chief Minister Basavaraj Bommai had also announced these programmes during the presenattion of the state’s budget to boost the IT & startup ecosystem in the state.

With this, it is estimated that MCSF and KAN will generate around ₹200 crore and these programmes will be implemented through Karnataka Digital Economy Mission (KDEM). Mysuru Cluster with a Seed Fund of ₹25 crores will be funding 70-80 startups which are expected to create over 1000 employment opportunities.

“Mysuru Global Technology Centre which will be set up in a space of 2 lakh sqft with 3000 seater capacity facilitates high-quality plug-and-play office infrastructure in Mysuru. It is said that it would play a major role in boosting the growth of IT, ITES, GCC, ESDM, startups & all services companies in the region,” the government said in a statement.

“Karnataka Accelerator Network (KAN) is a unique initiative of the Government of Karnataka claimed as the first of its kind in the country to boost the accelerator ecosystem in the state. It has set a goal to support over 300 startups. The stakeholders who will be partnering in the initiative would be (not for profit) three accelerators across Bengaluru and 3 potential accelerators from Beyond Bengaluru i.e Mysuru, Mangalore, and Hubballi-Dharwad-Belagavi clusters. It enables the creation of a mentor-mentee network between accelerators and incubators in Bengaluru and Beyond Bengaluru regions,” it added.

Karnataka is home to 40 unicorns worth nearly $163 billion. Recently, CM Bommai said a state-of-the-art startup park would be established at a cost of ₹30 crore near Kempegowda International Airport in Bengaluru.

Further, Karnataka Higher Education and IT/BT Minister Narayan also announced that the 26th edition of the Bengaluru Tech Summit (BTS-2023) will be held from November 29 to December 1 at Palace Grounds.