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Karnataka has announced seed funding of up to Rs 50 each for 200 startups

Bangalore: 200 start-ups will be provided with seed funding of up to Rs. 500,000 each this year to drive innovation in Karnataka, said Dr. CNAshwatha Narayana, Minister of Higher Education and IT / BT and Skills Development, on Sunday. ..

In response to the opportunity of the first “National Startup Day” event at Vidhana Soudha, the Minister of Education said, “In addition, 75 startups will be seeded to achieve 200 startups a year.” ..

This year, the state attracted foreign direct investment of Rs. 1.60, which is more than 50 percent of the investment made nationwide.

The state has more than 13,000 startups out of a total of 57,000 in the country.

He explained that the focus on digital education and skills development will be focused through the effective implementation of India’s National Education Policy (NEP) 2020, in terms of maintaining the state’s leading position in the sector.

Narendra Modi said Prime Minister Narendra Modi said the role of startups would be important for India to become a “Vishwaguru and a superpower.”

Moving forward in line with the prime minister’s ideas will drive the growth of hardware as well as software in the state, the minister said.

According to Narayana, the Electronic Systems Design and Manufacturing (ESDM) policy provides a subsidy of 5,000 rupees, of which 2,000 rupees have already been paid in the first year.

The federal government held the “Startup India Innovation Week” from January 10th to 16th, announcing the National Awards for Startups for Innovative Product Development.

Of the 56 startups awarded, 14 from the state bagped the same to put the state at the top of the country.

https://www.siasat.com/karnataka-announces-seed-funding-up-to-rs-50-lakh-each-for-200-startups-2259420/ Karnataka has announced seed funding of up to Rs 50 each for 200 startups

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