Karnataka Government To Set Up Four Incubators For Tech Startups

Karnataka Chief Minister, Siddaramaiah, has announced that the government will set up four technology business incubators across the state in 2016-17, reported ET. The announcement was made while presenting the state budget.

State-run Keonics would set up the incubators and common instrumentation facilities in Bangalore and in the IT parks of Shivamogga, Bagalkote and Kalaburgi.

The incubators will be set up in the areas of Internet of Things (IoT), Electronics System Design and Manufacturing (ESDM) robotics, 3D printing, nanotechnology, medical devices, health technology and clean technology.

He also said, that 10 incubators will be set up in post-graduate and professional institutes across the state under the new age incubation network. Also, an incubator will be established at Bagalkote for research and development in biotech startups.

The state government has also set up the Karnataka Semiconductor Venture Fund with $15 Mn (INR 100 Cr) corpus to provide venture capital to chip companies. The budget has proposed to allot about $33 Mn (INR 222 Cr) to the department of IT, BIT and S&T in the ensuing fiscal.

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