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New Startup Policy in Karnataka

To accelerate the growth of business eco-system, Karnataka has decided to come up with a more comprehensive startup policy. The main agenda is to make sure that Bangalore leads as the most preferred destinations for startups. Simultaneously, this new policy will develop other important cities as startup destinations on par with top 30 international startup hubs. This move has be every well received by entrepreneurs and startups and other business enterprises.

  • The startup policy is aiming to set up Technology Business Incubators in higher learning institutions all over the state through having strong research and development department.
  • Single Window Clearance system shall be used for startups.
  • Karnataka Chief Minister Siddaramaiah announced the commencement of a second warehouse for startups across 36,000 sq. ft. of land. Seating capacity of the warehouse will be around 350 which will be offered at a subsidized rate.
  • The policy will be focusing more on providing funds to startups, incubation facilities, and providing mentorship so that startups can get experienced quality human resource by giving them trainings from Tier 2 to Tier 3 cities.
  • This New Startup Policy will be implemented by IT and Biotechnology Department.

Source: The Times of India

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