Business News | Startup Park Will Further Stimulate Growth: Karnataka IT Minister

Bengaluru (Karnataka) [India], February 17 (ANI): Welcoming the proposal of establishing a startup park at the cost of Rs 30 crore in the state budget presented on Friday, CN Ashwath Narayan, IT minister of Karnataka, has said it would go a long way in stimulating the growth of around 25,000 startups that exist in the state.

He said it would contribute to inculcating an entrepreneurial and innovative mindset among local youth in the city and beyond. Besides, he believes it would help to position Karnataka as a 'champion state' for startups.

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He said that factors like the required land, project cost and mode of development will be finalised in consultation with the sector experts.

"The state is well poised for further structuring of the startup ecosystem and investment in tech infrastructure. This calls for a state-of-the-art Startup Park in the vicinity of Bengaluru International Airport (Kempegowda International Airport). The airport vicinity shall provide global connectivity to the startup park and allow easy mobility for the entrepreneurial human resource", Narayan explained.

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The proposed Startup Park envisions to provide a plug and play facility with a complete ecosystem for developing of prototype solutions and market-ready scalable products. This shall provide infrastructure focused on emerging technologies such as Agri-tech, Climate-tech, and Deep-Tech, among others to drive sustainable solutions.

Karnataka Chief Minister Basavaraj Bommai on Friday presented the State Budget for the financial year 2023-24, the last of the BJP regime, ahead of the upcoming Assembly elections in the State. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)