Karnataka Government To Launch New Start-up Policy

Karnataka government has been going out of their way to promote startups and encourage and support its entrepreneurs. They have recently come up with a new startup policy which they launched on the 6th of July at the Global Mobile App Summit and Awards. They have come up with "Startup Booster Kits".  Under this initiative a startup registered with the Karnataka Biotechnology and Information Technology Services that will be able to avail certain facilities.

The startups will be provided with subsidized plans for high-speed internet, incubator facility, subsidized license products, mentor facility, financial experts, accounting and legal assistance for anyone who has an idea. Apart from this, they have also set up a fund of 10 crores investment for women entrepreneurs, and an investment of up 50 lakh for startups.

They also have plans of launching yet another program by the name of  "Startup Open House". This program will give startups the rare opportunity to interact with the IT minister and his team and work on their product and even take their help along the way. This is all being done to ensure that Bengaluru remains the center of the startup ecosystem in India.

In terms of states policies for startups, Karnataka along with other southern states like Kerala, Andhra Pradesh and Telangana have shown great performance and better results than the rest of the states in the country in terms of their policies implementations for supporting startups.

Many states have taken initiatives and measures to pave the way for startups in their specific states and give them a boost. As of now, India has 7 states with startup specific policies.