India News | Karnataka Cabinet Okays

Belagavi, Dec 22 (PTI) The Karnataka Cabinet on Thursday approved a start-up policy of the State for 2022-27 which aims at stimulating the growth of 25,000 start-ups by 2027.

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Currently, the State has around 15,000 start-ups and the new policy has set a goal to add to the number at least 10,000 start-ups in 5 years, Minister for IT/BT CN Ashwath Narayan's office said in a statement.

“The new policy framed by the Department of Electronics and IT/BT has the aim of positioning Karnataka as the ‘Champion State' for start-ups and further increase the number of high-growth start-ups by 2027,” Narayan was quoted as saying in the statement. According to him, the policy would help create an enabling environment for nurturing start-ups throughout their business life-cycle and make the State a global innovation hub for start-ups. The policy focuses on promoting start-ups in emerging technology clusters 'Beyond Bengaluru' by creating a conducive environment and offering start-ups an ideal eco system for growth, he said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)