In a recent statement to press, Priyank Kharge, Karnataka IT minister, announced 10 Crore fund for state’s startup cell. This mega initiative was taken under ‘Innovate Karnataka Program’ to boost and promote startup ecosystem.
In July, ‘Booster Kit’ for the benefits of startups was already launched by the government. As per the official statement made to media, the cell has already successfully received 1,400 registrations over the last two months.
The cell has funded aerospace startup before and has provided 1.5 to 1.7 crore which is one of the commendable initiatives. Also, they have funded certain IT related startups.
The aim is to make Karnataka’s Startup Cell as one of the top 10 startup destinations in the world.