BENGALURU: The budget has rolled out a slew of measures to spur the electronics, R&D, IT and startup ecosystems. A Technology Innovation Park will be developed on 100 acres at Kadugodi in Whitefield that will offer testing, design and R&D services aiding the semiconductor sector, besides housing a technical research institute.
"Nearly 100 acres of land in Kadugodi is available with the revenue department. It will be transferred to Karnataka Industrial Areas Development Board. While the government will own the land, private firms will be allocated space to set up their units there," said industries minister MB Patil.
There are also plans to set up an incubation centre, Innoverse, for startups with a Rs 50-crore outlay. A grant of Rs 10 crore has been earmarked for this in the current year. The government is also catalysing the startup ecosystem through a programme called Propel, pumping in Rs 5 crore into the project. The aim is to embrace solutions developed from startups, especially those funded by the government under the Startup Policy.
"The incubation centre and the Propel programme are significant steps towards empowering the startup ecosystem. These will provide support and resources for aspiring entrepreneurs, fostering innovation and driving economic growth," said Madan Padaki, president of TiE Bangalore.
The government will launch a market access programme for startups, Global Innovation Alliance, spending Rs 3 crore. The budget has allocated Rs 50 crore for centres of excellence in health-tech and med-tech.
Other plans include setting up of a centre of excellence in wireless and wired technologies under PPP model at a cost of Rs 25 crore.
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