Karnataka plans startup booster kit

Karnataka plans startup booster kit

 The Karnataka government is coming up with a startup booster kit in order to foster entrepreneurship and business initiatives in the state, Karnataka IT Minister Priyank Kharge said on Wednesday.

Addressing delegates on the inaugural day of the Global Mobile App Summit and Awards (GMASA) 2016, Kharge said, “The state government is amending a new startup policy, and therefore, I welcome you to send in your suggestions. We are coming up with a startup booster kit where companies can register their startup with Karnataka Biotechnology and Information Technology Services (KBITS).

We will assist these startups in ways such as providing subsidised plans for high-speed internet, incubator facility, subsidised licence products, mentor facility, financial experts, accounting and legal assistance are among the key services we’ll offer to create a conducive ecosystem for anyone who has an idea.”

The government will soon be announcing an investment of up to Rs 50 lakh for startups across sectors, while a separate fund of Rs 10 crore is separately set up for women entrepreneurs. “We have identified nine universities in the state, and have a budget of up to Rs 40 lakh to encourage students to work on startup ideas,” he said.

Kharge announced a new initiative called ‘Startup Open House’ where the minister will interact with to come up with solutions for its establishment.

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