Karnataka committed to startup rise, says CM

Karnataka committed to startup rise, says CM

With a vision to boost the startup scene in Bengaluru, and promote the same trend in other parts of the State, Karnataka Chief Minister Siddaramaiah on Wednesday said: “Our government will ensure that Bengaluru maintains the leadership position in the country, and would also strive to develop other important cities as startup destinations on par with the top-30 international startup hubs.”

Addressing entrepreneurs and delegates at the launch of the new startup warehouse — set up by Nasscom in association with the state government — here, Siddaramaiah informed, “As per the Global Startup Ecosystem Ranking Report 2015, Bengaluru is the only Indian city to be ranked within the best 20 startup ecosystems in the world.”

Over the years, Bengaluru has emerged as the startup capital of India, between nearly 3,100 and 4,900 dynamic technology startups, and has attained the second highest growth rate for exit volume and VC investments, ranking among the top 20.

Reflecting on the relevance of startups and entrepreneurship to benefit all demographics, the Chief Minister said, “In particular to rural and remote areas, startups are most likely to innovate in electronics for education, healthcare and energy sectors, offering smart solutions, while in the urban setup, smart cities, smart grids, smart houses and smart streets offer a great potential in resolving the challenges of urbanisation.”

It must be mentioned that the state government recently unveiled the Karnataka Start-up Policy 2015-2020, which has set an objective to stimulate growth of 20,000 tech startups by 2020, creating six lakh direct, and 12 lakh indirect jobs, during the period.

Meanwhile, with an aim to nurture budding startups, Nasscom has expanded its warehouse in Bengaluru, as a further fillip to its 10,000 Start-Ups programme.

The warehouse has undergone a four-fold expansion from 10,000 sq feet to 40,000 sq feet, and will be equipped with all the latest labs offering incubation in realms of Internet of Things (IoT), Design, and Mobile Experience.

The warehouse currently has 20 startups, and with the new space, the warehouse will consist of 100 startups. There will be five seats allotted to one startup, which will operate for six months. The startups, which are selected by a committee of stakeholders from the Karnataka government and Nasscom, will be required to sign a lease agreement with the warehouse.

According to Nasscom 10,000 Start-Ups Vice President Rajat Tandon, “The expansion will help nurture over 500 entrepreneurs under one roof, thereby driving growth and fostering innovation where startups can share knowledge and help build on inclusive, yet vibrant economy.”

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