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Karnataka is all set to become the first state to have a dedicated startup council.
The council will be set up by the government of Karnataka which will look into state investment for startup infrastructure, incubation centres and similar facilities. Besides, it will also work on policy to provide easy clearance to emerging businesses.
A meeting was held with several startup heads and senior entrepreneurs to discuss on various issues. They said, getting licences & certificates and the process of renewal were time-consuming and not industry-friendly.
The discussions touched upon everything from the kind of incentives they may get to the problems faced by some startups. Speaking on this, chief secretary of Karnataka, K Ratna Prabha told ET, “One round of consultation with industry experts and startups was completed early this month. We have asked officials to prepare a concept note in consultation with the industry, following which we can speak about how everything will shape up.”
Meanwhile, Bangalore has also had success with startups by creating a favourable environment, like it did for the IT sector.
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