Four Tech based Incubators for Karnataka

The Karnataka government would be setting four technology business incubators across the state in 2016-17, CM Siddaramaiah announced while presenting the state budget. The budget proposes Rs.222 crore to the department of IT, BIT and S&T in the ensuing fiscal.

State-run Keonics has been chosen to set up the incubators and common instrumentation facilities in Bangalore and in the IT parks of Shivamogga, Bagalkote and Kalaburgi.The incubators will be set up in the areas of Internet of Things (IoT), Electronics System Design and Manufacturing (ESDM) robotics, 3D printing, nanotechnology, medical devices, health technology and clean technology.

Ten incubators will also be set up in post-graduate and professional institutes across the state under the new age incubation network.

Siddaramaiah also mentioned about a proposal in the budget to set up centres of excellence and finishing schools in IT, electronics and animation sectors on the lines of Biotechnology Finishing Schools (BTFS) across the state.

"The Rs.56 crore Bengaluru bio-innovation centre has been commissioned to provide access to high-end instrumentation and laboratory facilities to micro, small and medium enterprises," CM added.

The state government has also set up the Karnataka Semiconductor Venture Fund with Rs. 100 Crore corpus to provide venture capital to chip companies.