Retail

Modern thinking, old wisdom made us the Startup Capital: Karnataka CM


Knowing the pivotal role startups play in the rollout of new technologies, the Karnataka government will fund 100 startups this year, chief minister BS Yediyurappa said in his message to The Economic Times Startup Awards event.

“Our government has adopted a unique approach to ensure Karnataka remains the leader in innovation. This includes focus on skilling, developing global alliances and supporting startups. Hand-holding startups has been the cornerstone of the State’s policy. We were the first state to come up with the Startup Policy in 2015 and have come a long way since then,” Yediyurappa said.

The state is moving towards becoming an innovation hub, a gradual shift towards product development from being a services powerhouse, he noted.

It has opened 1.25 lakh sq ft of incubation space in various parts of the state to provide subsidised working space for entrepreneurs. “Through our funding programs such as ELEVATE, we have funded 264 startups, amounting to Rs ₹62 crore,” he said.

The state government is setting up centres of excellence in artificial intelligence, IoT, machine learning, cyber security, agri-innovation etc., as a step towards upgrading existing R&D and reskilling citizens. It is developing global innovation alliances with other innovation hubs across the world, he said. “It (the city) is this blend of old wisdom and modern thinking that has helped the city to emerge as a global hub for innovation,” the CM said.

Alongside creating wealth, entrepreneurs should aid development of low-income groups, without whose development the country cannot progress, Yediyurappa noted.

The ET Startup Awards has gathered momentum over the years to become one of the most well-known platforms for celebrating India’s finest entrepreneurs, he said.

Senior Minister S Suresh Kumar, Chief Secretary TM Vijay Bhaskar and City Police Commissioner Bhaskar Rao attended the event, among other top government officials.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.