State moots Karnataka Innovation Authority for startups

A Karnataka Innovation Authority will be set up to support the latest technology and a vision group will be constituted to strengthen the startup ecosystem, Chief Minister B S Yediyurappa announced on Thursday.

The Innovation Authority will be chaired by the CM while Deputy Chief Minister C N Ashwath Narayan, who is also the IT&BT minister, will be its co-chairman.

The vision group for startups “will provide insights on strengthening the startup ecosystem, involving key stakeholders from industry and academia,” Yediyurappa said at a breakfast meeting with industry captains that was attended by the likes of Infosys co-founder Kris Gopalakrishnan among others.

Karnataka will also announce a revised IT policy in the coming days as part of its mission to promote faster and inclusive growth, the chief minister said.

“The policy will focus on attracting investments and employment to tier-2 and tier-3 cities.”

According to Yediyurappa, the government is keen on taking up “large upskilling and reskilling” of the local workforce. Pushing for local Kannadigas to be hired on priority, the CM said: “I encourage industry to actively utilize local workforce who have the potential to be gainfully employed.”

The government also reached out to diplomats from over 15 nations at a separate interactive session.

Narayan said a hardware manufacturing park was on the cards. “The objective of these initiatives is to ensure that the IT sector in Karnataka is worth $400 billion as India pushes for a $5 trillion economy,” he said.

With the ‘Talent Accelerator Programme’ the State was providing training at degree, engineering and polytechnic colleges to ensure graduating students are industry-ready, Narayan said. A total of 30 colleges are already in the new age innovation network and the number of colleges will be increased to 50, he added.