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


Karnataka’s higher education minister has rolled out a plan for promoting startups in the state. Dr CN Ashwath Narayan shared three strategic initiatives aimed at promoting start-ups and the innovation ecosystem in Beyond Bengaluru clusters. The three programmes include Mysuru Cluster Seed Fund (MCSF), Mysuru Global Technology Centre (MGTC), and Karnataka Accelerator Network (KAN).

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.

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