<p>The Karnataka government would contemplate the setting up of a Karnataka Technology Development Board to promote information technology and knowledge economy, said state Chief Minister B S Yediyurappa on Monday.</p>.<p>The proposed board would be responsible for investment promotion, industry development and manpower development of the broad technology sector, and shall aim to strengthen the state's position as one the world's leading hubs in the high technology arena, he said.</p>.<p>Speaking after inaugurating the three-day Bengaluru Tech Summit 2019, he said the state has topped the first-ever innovation ranking rates by Niti Aayog.</p>.<p>He said that during an interaction with the industry leaders after becoming Chief Minister, he had promised them a legal framework for promoting innovation through a statute, which he fulfilled by setting up the Karnataka Innovation Authority through legislation.</p>.<p>The Authority, headed by him, will sanction setting up of regulatory sandboxes and will have powers to exempt or relax provisions of any law enacted by the State Legislature so as to promote innovation, Yediyurappa told the gathering. Appealing to the industry leaders to invest in Karnataka, the Chief Minister said numerous favourable factors such as proactive government,industry-friendly laws, talent pool of highly skilled professionals and cosmopolitan life in the cities have made Karnataka the most preferred destination in India for startups, researchers and global corporate giants alike.</p>.<p>He called upon the investors to make use of the opportunity provided by the state government. Deputy Chief Minister C N Ashwath Narayan, Chief Secretary T M Vijay Bhaskar, diplomats from various countries and delegates from India and abroad were present. </p>
<p>The Karnataka government would contemplate the setting up of a Karnataka Technology Development Board to promote information technology and knowledge economy, said state Chief Minister B S Yediyurappa on Monday.</p>.<p>The proposed board would be responsible for investment promotion, industry development and manpower development of the broad technology sector, and shall aim to strengthen the state's position as one the world's leading hubs in the high technology arena, he said.</p>.<p>Speaking after inaugurating the three-day Bengaluru Tech Summit 2019, he said the state has topped the first-ever innovation ranking rates by Niti Aayog.</p>.<p>He said that during an interaction with the industry leaders after becoming Chief Minister, he had promised them a legal framework for promoting innovation through a statute, which he fulfilled by setting up the Karnataka Innovation Authority through legislation.</p>.<p>The Authority, headed by him, will sanction setting up of regulatory sandboxes and will have powers to exempt or relax provisions of any law enacted by the State Legislature so as to promote innovation, Yediyurappa told the gathering. Appealing to the industry leaders to invest in Karnataka, the Chief Minister said numerous favourable factors such as proactive government,industry-friendly laws, talent pool of highly skilled professionals and cosmopolitan life in the cities have made Karnataka the most preferred destination in India for startups, researchers and global corporate giants alike.</p>.<p>He called upon the investors to make use of the opportunity provided by the state government. Deputy Chief Minister C N Ashwath Narayan, Chief Secretary T M Vijay Bhaskar, diplomats from various countries and delegates from India and abroad were present. </p>