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Startups
Karnataka is a Global innovation and startup hub with more than 400+ global R&D centers and 4000+ start-ups, 45 Unicorns, 144 Incubators and Accelerators and 1565 VC funds in Bangalore. It was the 1st state to announce a multisector startup policy and a dedicated Startup Policy in 2015. Bengaluru has been ranked 8th as per the Global Startup Ecosystem Index 2022 by Startup Blink.
1st
In NITI Aayog’s India
Innovation Index
17164
Total number of Angel Investors in Bengaluru
50.2%
of India’s Unicorn
valuation
4th
largest technology & innovation cluster in the world is in Bengaluru
Sector Incentives and Policy
Startup Policy
| Particulars | Incentives |
|---|---|
| Reimbursement of State GST | Beyond Bengaluru Startups, incubated in GoK supported incubators and CIFs with a maximum annual turnover of INR 1 Crore shall be eligible for 100% reimbursement of annual State GST (SGST), within first three years of being incubated. |
| Marketing Cost Reimbursement | Reimbursements of 30% (up to INR 5 Lakhs per startup per year) of the actual costs (including travel) incurred in international marketing through trade show participation. |
| Patents Filing Cost Reimbursement | The cost of filing and prosecution of patent application will be reimbursed to the startups incubated in GoK supported incubators and CIFs subject to a limit of INR 2 Lakhs per Indian patent awarded. For awarded foreign patents on a single subject matter, upto INR 10 Lakh would be reimbursed. |
| Quality Certification Cost Reimbursement | o 50% reimbursement of cost of quality certification fee with an overall ceiling of INR 6 Lakhs (with maximum of 3 industry standard quality certifications) for startup outside Bengaluru Urban District |
Initiatives and Growth Drivers
Funding the IT Sector
Funding the growth of the IT industry through Karnataka Information Technology Venture Capital Fund (KITVEN Fund), Idea2Poc Fund, Grand Challenges Funds and more.
Flourishing the Ecosystem
Strong policies like the Karnataka Startup Policy, i4 Policy, ESDM Policy, and Karnataka AGVC - XR Policy, giving the ecosystem a strong foundation to flourish.
Booster Kit
The startup Karnataka booster kit was launched initially in 2016. Now, the Karnataka government aims to introduce new sector-based booster kits for startups.
Centre of Excellence
Striving to strengthen its position as the country’s Innovation Hub by setting up sector specific CoEs and Karnataka Digital Economy Mission which will focus on Innovation & Startups, Acceleration Program, etc.
Research on Emerging Technology
Building on existing capabilities to lead research on emerging technologies such as Block Chain Technology, Artificial Intelligence, Big Data, IoT, forthcoming 5G technology, etc.
Karnataka Startup Cell
Facilitate the startup ecosystem, by acting as a single point of contact for information on various incentives, government sponsored events, K-tech ecosystem hubs including CoEs, TBIs, CIFs, Incubators and facilitates industry mentor connect, investor network, etc.
Karnataka Startup Policy 2022
Ensuring the State plays an integral role in galvanizing the startup community at the national and international level inclusive, tech-driven innovation landscape and exceptional talent pool.
Sector Champions
Sujeet
Co-Founder
Udaan
Udaan is a Business-to-Business (B2B) eCommerce platform, designed to solve core trade problems for small, medium and large businesses across India. It is the largest such national distribution platform of its kind enabling retailers and businesses to source merchandise from manufacturers, brands, white labels, importers etc. on a single platform. udaan brings to users the power of technology to grow their business.
Salil Gupte
President
Boeing India
[email protected]
Boeing has been a strong partner of India’s aerospace sector for almost eight decades, both as the mainstay of India’s commercial aviation sector as well as an important partner in the mission readiness and modernization of India’s defense forces. Headquartered in Delhi, Boeing’s India operations include field service offices in Mumbai, Hindan, Rajali and New Delhi, and a rapidly growing Boeing India Engineering & Technology Center (BIETC) in Bengaluru and Chennai. The upcoming Boeing engineering and technology campus in Bengaluru, Karnataka will conduct core engineering and research for Boeing’s iconic products as well as future platforms. The campus will be one of the largest for Boeing, outside of the US.
Sector Contact
Email: lorem16@gmail.com
Phone: 99999xxx
