Wednesday March 20, 2019
Home Business Karnataka bec...

Karnataka becomes first state to have a startup policy

0
//
start ups

Bengaluru: Karnataka has become the first Indian state to have a startup policy with the cabinet clearing it, state Information Technology and Bio-Technology minister S.R.Patil said on Friday.

“Karnataka is the first state in India to come up with a Startup Policy. It will have a time frame of five years from 2015-2020,” said Patil at the Bangalore ITE.biz 2015 curtain raiser, adding the cabinet approval was accorded on Thursday.

Principal Secretary, IT and BT, V. Manjula said that the policy entails setting up incubators in post graduate colleges, a collaboration between R & D institutions and industry and technical business incubators in higher learning institutions among others.

“The operational guidelines and the finer aspects of the Startup policy and the quantum of money for the Startup fund are yet to be made. They will be drafted soon,” he said, adding funds will be released to colleges which will be given a handholding for three years and there will also be a Startup Policy review committee headed by the chief secretary.

Establishment of a Startup cell in KBITS and funding promising early stage startups are also the features of the new policy.

Meanwhile, the Karnataka government’s premier IT event Bangalore ITE.biz 2015 has severed its ties with CeBIT and is going independent from December 8-10 with the theme “Fuelling growth through disruptive innovation”.

“Bangalore ITE.biz 2015 is coming up with a renewed vigor this year… Last year in CeBIT 2014, we missed the Karnataka flavor,” said Software Technology Parks of India (STPI) director P.K. Das.

First started in 1998, the event will feature 100 plus exhibitors, 110 speakers, 1,000 delegates, 5,000 visitors and eight Young Entrepreneurs Startups in Soaring Spirits (YESS) presenters.

“Various government stakeholders will throw up challenges being faced by them in a hakathon to produce solutions in Bangalore ITE.biz 2015,” added Manjula.

Co-host STPI will confer IT export awards wherein big companies will be recognized as “Pride of Karnataka”, added Das.

Emphasizing Karnataka’s robust IT industry, Patil said: “In 2014-15, exports from Katanataka IT companies crossed Rs.2 lakh crore, and we aim to touch four lakh crore in 2020. The industry generates direct and indirect employment for 40 lakh people.”

Infosys co-founder and Karnataka IT Vision Committee head, Kris Gopalakrishnan said every Banaglore ITE.biz is different and should be relevant to the industry requirement and align with the evolving industry.

(IANS)

Next Story

Tech Giant Google Declares Second Batch For Startups Programme in India

Similar to the first class, the 10 startups will undergo an intensive one-week mentorship bootcamp, followed by in-person engagements over the next three months

0
Google, Main One, russia
A Google logo is displayed at the entrance to the internet based company's offices in Toronto. VOA
Google on Tuesday announced the second batch of 10 startups, which will be part of its Launchpad Accelerator mentorship programme in India.
Launchpad Accelerator India is dedicated to support Indian startups that use technologies like artificial intelligence (AI) and machine learning (ML) to create solutions that address the nation’s core needs.
The final 10 selected startups are based out of cities across the country, including Bengaluru, Mumbai and New Delhi, Google said in a statement.
The second batch will be provided a targeted programme, designed around the challenges of India, and how technologies like AI and ML can be leveraged to address their scale and complexity.
Google
The Google logo is seen at a start-up campus in Paris, France, Feb. 15, 2018. VOA
The startups part of the new class are Opentalk, THB, Perceptiviti Data Solutions, DheeYantra, Kaleidofin, FinancePeer, SmartCoin, HRBOT, Savera.ai, and Adiuvo Diagnostics.
Similar to the first class, the 10 startups will undergo an intensive one-week mentorship bootcamp, followed by in-person engagements over the next three months.
“Given the growing maturity of India’s startups, our programme focuses on providing startups with incremental knowledge and tools, gleaned from our experience of building products for users around the world,” said Paul Ravindranath G, programme Manager, Launchpad Accelerator programme, India, Google. (IANS)