TIE Event, USA

State is Geared Up for the Start Up : Sri. R.V. Deshpande, Hon’ble Minister for Large & Medium Industries and Tourism

Mr. R V Deshpande, Hon’ble Minister for Large and Medium Industries and Tourism, Government of Karnataka who is leading a high level delegation to USA and France to promote Invest Karnataka 2016 met senior executives of some of the fastest growing global start-ups at Bay Area and Silicon Valley, San Francisco. Discussed regarding improving Start-up Ecosystem in Karnataka and setting up of innovation clusters with a view to help them scale up faster.

Addressing the members of TiE, Hon’ble Minister said that the State has always taken a lead in technological innovation, entrepreneurship and developing an ecosystem for the growth of Startups. Bengaluru has the distinction of having largest IT cluster with the presence of over 375 global companies who have chosen the city for their R&D and offshore development operations due to the availability of skilled professionals. Hon’ble Minister further highlighted the fact that Bengaluru is home to more than 36% of start-ups in India. As per the Global Start-up Ecosystem Ranking Report 2015, Bengaluru is the only Indian city to be ranked within the best twenty start-up eco-systems in the world.

It was also mentioned that the Karnataka has taken several steps to further promote start-ups in the state including announcing a new Start-up Policy and setting up a start-up council. It aims to stimulate growth of 20,000 tech based start-ups including 6000 product start-ups by 2020, which would create 6 lakh direct and 12 lakh indirect employments. With this there is a scope to mobilize Rs. 2000 Cr funding investment in start-ups through Government interventions and facilitate generation of Innovative Technology solutions with a social impact.

Hon’ble Minister also visited several companies including Cisco, Adobe, Airbnb, Nutanix, Linkedin, AeroVironment and Sandisk.

The delegation includes Additional Chief Secretary to Government, Mrs. K Ratna Prabha, IAS and Commissioner for Industrial Development, Mr. Gaurav Gupta, IAS, Mr. Sampathraman, Immediate Past President FKCCI, Mr. K Ravi, Vice President and Mr. MC Dinesh, Senior Vice President of FKCCI and other senior officers.

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