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Karnataka move to boost startup ecosystem

It would aim at attracting investments and employment in tier II and tier III cities.

Karnataka move to boost startup ecosystem

(Photo: Getty images)

Karnataka is setting up an innovation authority along with a vision group involving industry heads for startups.

While the innovation authority would support the latest technology, the vision group would provide the much needed insights for strengthening the startup ecosystem in the state under the guidance of industry leaders.

The move is aimed at ensuring that the state remains at the forefront in innovation.

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The focus, incidentally, would be on skilling, incubating startups, developing global alliances, concentrating on tier II cities and providing a legal framework for supporting innovation.

This apart, according to the chief minister, the government would soon announce a revised IT policy with the avowed objective of boosting growth.

It would aim at attracting investments and employment in tier II and tier III cities.

In this context, he also pointed out that the cumulative FDI inflows into the state from April 2000 to December 2018 had soared to over $36 billion, the third highest after Maharashtra and New Delhi. Speaking during an interaction with the captains of the IT and biotechnology sector, he said that Karnataka would, in association with the industry, take up large-scale upskilling and reskilling of the local workforce.

At the same time, he urged the industry to utilise local workforce employing them gainfully

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