India's Karnataka state unveils plans to enable growth of startups

Out of the startups that received government funding, 30 per cent are women entrepreneurs, official says

  
Image used for illustrative purpose.

Image used for illustrative purpose.

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Karnataka is geared up to generate 60,000 direct and indirect jobs in the IT sector in the next five years and expand innovation beyond Bengaluru, Dr CN Ashwath Narayan, Minister for Higher Education, IT & BT, Science and Technology Skill Development and Entrepreneurship, told Khaleej Times.

He said the state is taking affirmative action to enable the growth of future startups. “We are making the world aware of the potential that exists in other emerging cities. As is evident from the newly released IT policy (2020-25), we are taking steps for innovation to grow beyond Bengaluru,” said Narayan.

The minister was speaking on Monday on the sidelines of a panel discussion at the India Pavilion, titled Karnataka — the startup capital of India.

Dr EV Raman Reddy, IAS, Additional Chief Secretary, Government of Karnataka, who also attended the panel, said Karnataka has become the startup capital of India because the state government has done “something different” to encourage and fund new ideas.

The official said Karnataka “is the only state in India” that has started to fund startups through a unique programme called Elevate.

“We have funded about Rs15 million, and 489 startups have benefited by this,” he said.

He said that out of the startups that received government funding, 30 per cent are women entrepreneurs, and the more than 35 are away from Bangalore in the rural areas.

 

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