Karnataka Government to Launch Asia’s Largest Startup Warehouse

Karnataka Government to Launch Asia’s Largest Startup Warehouse

The government of Karnataka and Information Technology (IT) industry lobby group, Nasscom, has recently joined hands to launch one of Asia’s largest startup warehouse of 50,000 square feet and also the country’s first “hack-celerator”, a combination of a hackathon-like programme and an accelerator. It has also announced to launch a  new “Internet of Things” lab and a mobile development lab as part of the program.

The Internet of Things lab will incubate startups that are attempting to build new products around the Internet of Things.

With this the government has also announced an ambitious plan to ensure public access to wi-fi all across Bangalore in about a year. This will make Bangalore the first metropolitan city in India with such facilities.

Our competition is not with neighbouring states; our competition is with the Silicon Valley

“Our competition is not with neighbouring states; our competition is with the Silicon Valley,” Karnataka IT minister S.R. Patil said.

The Karnataka government is investing about INR 4-5 Cr to build the 50,000 square-feet startup warehouse, which may house over 200 startups and will be located in the Diamond District locality of Bangalore. The warehouse is expected to be up and running by November.

Last year, the Karnataka government and Nasscom had built the first state-level startup warehouse, which had attracted about $1 Mn of investments.

The warehouse will basically become a one-stop shop for angels, VCs, startups!

“(The warehouse) will basically become a one-stop shop for angels, VCs, startups, etc,” said Ravi Gururaj, chairman of Nasscom’s product council. “We are taking similar steps in other states but this is the first state where we’re taking multiple steps. And this will serve as a template for others to follow.”

Apart from this, the government has also announced that nine engineering colleges in Karnataka will be receiving funding of up to INR 40 Cr to set up incubation centers. These colleges will be located in towns and cities such as Mysore, Belgaum and Shimoga. It will also be conducting hackathons for student teams from these nine colleges in September and October. Each selected team will receive upto INR 3 lakh to develop and scale up their ideas.

The state IT department is also partnering with ecommerce firms such as Amazon and Snapdeal to help bring SMEs online by using their marketplace platforms.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Karnataka Government to Launch Asia’s Largest Startup Warehouse-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Karnataka Government to Launch Asia’s Largest Startup Warehouse-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Karnataka Government to Launch Asia’s Largest Startup Warehouse-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Karnataka Government to Launch Asia’s Largest Startup Warehouse-Inc42 Media
Karnataka Government to Launch Asia’s Largest Startup Warehouse-Inc42 Media
You’re in Good company