Karnataka Chief Minister Siddaramaiah had launched a startup policy 2015-2020 and is planning to create six lakh direct and 12 lakh indirect jobs in the startup space by 2020.
Siddaramaiah said that the government also intends to incubate 20,000 startup during the period,
Inaugurating the 18th edition of Bangalore ITE.biz 2015, Mr. Siddaramaiah said: “We have launched the startup policy 2015-2020, aimed at encouraging entrepreneurship, setting up incubation centres, fostering strong partnerships between R&D and industry, and providing early stage funding to startups. With hundreds of entrepreneurs with creative ideas setting up startups here, Bengaluru is emerging as the country’s startup capital over a decade after it became the IT capital.”
The State’s new policy covers Information Technology, Biotechnology and the manufacturing sectors. The government has also formed a startup council under the chairmanship of the Chief Minister to review the implementation of the policy on a regular basis for feedback and suggestions.
Pointing out on the need of creating a ecosystem, Mr. Siddaramaiah said, “We are setting up a startup cell as a one-stop-shop to help young entrepreneurs float startups and guide them in launching their ventures as they will have little knowledge of corporate affairs.”
The State government is also trying to promote tier-2 and tier-3 cities as new destinations for investments in the high-tech sector. It has also formed a new industrial policy, offering incentives and tax exemptions for Indian and overseas firms.
S. Gopalakrishnan, Infosys co-founder and Head of Karnataka vision group on IT; R. Chandrashekhar, Nasscom chairman; Omkar Rai, director-general, Software Technology Parks of India; Vanitha Narayanan, MD of IBM India; and Debjani Ghosh, Intel VP, sales and marketing group, were present.
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