Karnataka: 200 startups to be provided with seed funding of up to ₹50 lakh each. Details here
In 2022, Karnataka has so for attracted ₹1.60 lakh crore of foreign direct investment, which is over 50% of the investment made in the entire countryKarnataka is home to more than 13,000 startups out of the total 57,000 in India
PremiumDr CN Ashwatha Narayana, Karnataka's Higher Education and Minister for IT/BT and Skill Development, on Sunday said that 200 startups will be provided with seed funding of up to ₹50 lakh each in the current year in a mission to promote technological innovation in the state.
Addressing the occasion of the first 'National Startup Day' event observed at Vidhana Soudha, Narayana said, "The seed funding will be facilitated to additional 75 startups to achieve the tally to 200 startups in the year."
In 2022, Karnataka has so for attracted ₹1.60 lakh crore of foreign direct investment, which is over 50% of the investment made in the entire country. Karnataka is home to more than 13,000 startups out of the total 57,000 in India.
In view of maintaining the leading position of the state in the sector, the stress on digital education and skill development will be focussed through effective implementation of the National Education Policy of India (NEP) 2020, the minister explained.
He further pointed out that Prime Minister Narendra Modi said that the role of startups will be crucial in India becoming "Vishwaguru and super power".
Going forward along the lines of PM Modi's thought, the growth of hardware will also be facilitated together with software in the state, the minister said.
Under Electronics System Design and Manufacturing (ESDM) policy, ₹5,000 crores will be given as subsidy, and out of this ₹2,000 crores has already been given in the first year, Narayana said.
The Centre has observed the 'Startup India Innovation Week' from 10-16 Jan and announced national awards for the Startups for their innovative product development.
Out of the 56 startups awarded, 14 from Karnataka have bagged the same to put the state on top in India.
With agency inputs
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
