The Karnataka government on Friday proposed to establish an Incubation Centre in Kalaburagi to promote startups in the state.
The Centre will be set up in association with the Deshpande Foundation at a cost of Rs 5 crore, the chief minister Siddaramaiah said in his budget speech.
Besides focusing on startups and innovation, the government will give importance to hardware sector and intellectual property (IP). The budget proposals is viewed as an attempt to promote Karnataka as the innovation capital in the areas of Information Technology, Bio Technology and Science & Technology (IT, BT and S&T).
Karnataka, known as the 'Silicon Valley of India', has the maximum number of startups incubated in the country at 890 compared with 645 companies in Maharashtra and 419 in the national capital region (NCR), according to data from Tracxn.
The chief minister also proposed to grant Rs 1 crore towards scholarship for research students of PHD in Science and Engineering.
As part of the hardware strategy, the Budget proposes establishment of Semiconductor Fabless Accelerator Lab (SFAL). The government wants SFAL to be formed India Electronics and Semiconductor Association (IESA).
Commenting on the development, former IESA President M N Vidyashankar said formation of SFAL is a step in the right direction. "It will promote hardware equipment and semi conductor chip design and development in the state. We are likely to witness a boom in the electronics manufacturing in the state," he said.
The budget proposes establishment of legal innovation framework in order to bring new and emerging technologies under the legal framework until appropriate law is enacted.
Protection of IP rights is primarily keeping in mind the development of institutions, entrepreneurs and startups. The government wants to create an archive of patents so that it will facilitate storing, corroborating and exchange of patents.
Besides fostering manufacturing in the state, the Budget also proposes establishment of Centre for Excellence in Designs to promote entrepreneurs.
