It is reported that the Union Government has been observing the “Startup India Innovation week” between Jan 10 and Jan 16 as well as it is reported that the Karnataka government has also added 75 new startups, bringing its total to 200, the purpose of providing seed funds of up to 50 lakh to each of these businesses this year.
To promote technology-driven innovation within Karnataka the 200 startups across the state will receive funds for seeding, as announced by the Minister for Higher Education Minister, as well as the Minister of IT and BT, as well as Skill Development for the state Dr CN Ashwatha Narayana , on Sunday.
Karnataka Govt to promote Tech Innovation
Karnataka hosts more than 13,000 of the 57,000 startups in India In order to increase the number of startups in the state the state government is set to give 200 startups the seed capital of as much as Rs 50 lakh per during the current fiscal year.
In a speech at the inaugural ‘National Startup Day’ celebration at Vidhana Soudha The minister of education stated, “The seed funding will be made available to an additional 75 startups in order to bring the target of 200 startups over the course of the next year” According to in an ANI report.
Karnataka has, to date, attracted foreign direct investments of around 1.6 lakh crore. That is more than half of investments that has been made across the nation.
Minister Dr CN Ashwatha Narayana also stated that in order to maintain the state’s top position in the field of startups More emphasis will be given to developing skills and digital education in the implementation of the National Education Policy of India (NEP) 2020.
PM’s ‘Vishwaguru and Super Power’ Aim
The Prime Minister Narendra Modi has stated that in order for India to be granted the Vishwaguru and superpower status, focusing on entrepreneurs in the country is a key element.
Narayana stated that the expansion of hardware could also be supported by software within the state, in line with the PM’s plan.
A total of Rs 5,000 crore will be paid as a subsidy for Electronics System Design and Manufacturing (ESDM) in which Rs . 2,000 crore have already been distributed in the initial year.
Additionally, as part of the Union Government’s Startup India Innovation Week, approximately 56 startups across the country have been rewarded with national prizes for their creative product design, and 14 fourteen of them hail from Karnataka.