Karnataka govt is investing Rs 75cr in startup incubation hubs

The Karnataka government is investing Rs 30.3 crore into a startup incubation hub to be established on a 35,000 sq ft plot at HSR Layout, in one of the world's biggest tech startup hubs, Bangalore. This would be the second such initiative in the city by the state government, the first being the Nasscom Warehouse on Old Airport Road where the government is a partner.

Speaking to Times of India, IT minister Priyank Kharge said, "We want to encourage new-age innovations in both the software and hardware fronts. The new hub is part of the ongoing efforts by the state government to notch-up Bengaluru's position in the global startup ecosystem."

"We also plan to construct office space for Karnataka State Electronics Development Corporation (Keonics - a state enterprise), on a 10,000 sq ft plot next to the proposed incubation hub. We had prepared a plan for the new hub and we are now making some changes to it before formally launching the same," Kharge added.

Chief Minister Siddaramaiah also gave the green signal for setting up five startup incubators across the state at a cost of Rs 44 crore. This is being done to nurture innovators in tier-2 cities and those from the rural areas.

Telling that government would be focusing on startups in emerging areas like artificial intelligence, robotics, and hardware, Kharge added, "These incubators will be established in cities such as Mangalore, Kalaburagi, Belgaum and two other places which are yet to be decided on. All those who are brimming with ideas and want to take them forward can make use of these incubators which will help them access mentors, legal and accounting services and sharpen strategies pertaining to market reach."