Innovation And Startup
Karnataka is a Global innovation and startup hub with more than 400+ global R&D centers and 4000+ startups in Bangalore
1st
In NITI Aayog’s India Innovation Index
3rd
highest number of startups globally in Bangalore
1st
state to announce a multisector startup policy
4th
Bengaluru is world's 4th largest technology & innovation cluster
1st
In NITI Aayog’s India Innovation Index
3rd
highest number of startups globally in Bangalore
1st
state to announce a multisector startup policy
4th
Bengaluru is world's 4th largest technology & innovation cluster
Table of contents
Incentives
Financial Assistance
The Government would match the funding raised by the Incubator from Government of India on a 1:1 basis as matching grants
Marketing Incentives
30% reimbursement, a ceiling of INR 5 lakhs per year per company
Reimbursement of VAT & CST
100% reimbursement for the first 3 years or till the incubator becomes DST certified
Patent Filing Cost Reimbursement
Reimbursement up to INR 2 lakhs per Indian patent, up to INR 10 lakhs per foreign patent
New initiatives & opportunities
Global Innovation Hub
State shall further strive to strengthen its position as the country’s Innovation Hub by setting up sector specific CoEs, Karnataka Digital Economy Mission which will focus on Innovation & Startups , Acceleration Program, etc.
Emerging new age technologies
Opportunity to build on existing capabilities to lead research on emerging technologies such as Block Chain Technology, Artificial Intelligence, Big Data, IoT, forthcoming 5G technology, etc
New age startups
New age cutting edge innovations across sectors an opportunity for startups. E.g. Nopo Nanotechnologies is manufacturing high quality nanotubes, Niramai is developing novel software to detect breast cancer, etc
Karnataka Innovation Authority
Establishment of regulatory sandboxes to promote and regulate innovative technologies in Karnataka
Sector Champion
udaan is a Business-to-Business (B2B) eCommerce platform, designed to solve core trade problems for small, medium and large businesses across India. It is the largest such national distribution platform of its kind enabling retailers and businesses to source merchandise from manufacturers, brands, white labels, importers etc. on a single platform. udaan brings to users the power of technology to grow their business.
Growth drivers
Funding Opportunities
Funding the growth of IT industry through its KITVEN-1 and 2 funds, IDEA2POC FUND for all technology-based sectors, GRAND CHALLENGES FUNDS and more.
Policy Push
Strong policies like the Karnataka Startup Policy, i4 Policy, BT Millennium Policy, ESDM Policy, and KAVGC Policy, giving the ecosystem a strong foundation to flourish
Facilitations
A dedicated Startup Cell for the first time in India and startup booster kit launched in 2016.
Nurturing Ecosystem
Envisages the growth of 20,000 new startups, including 6,000 product startups, 6 lakh jobs directly and 12 lakh indirectly by 2020.
