CHENNAI: The purpose of Bengaluru Tech Summit (BTS) is to provide mentorship and handholding new startups, especially deeptech startups, rather than making it as an investor summit, said a senior official of Karnataka government during a press meet on Wednesday.
Speaking with TNIE, N Manjula, Secretary in the Department of Electronics, IT, Biotechnology and Science & Technology, Karnataka, said, “The BTS aims to give to mentorship and advices to startups rather make it as an investor summit event. We want to train these new startup leaders on how to pitch and help them to explain their product feature to the investors.”
She also said that the Karnataka government has created “deeptech fund of funds” of Rs 200 crore and approached different investors to contribute to the funds, which could help to form an investment fund of Rs 500-600 crore. This would help the government to give grant to startups coming in Karnataka. She added that the state government will give Rs 1 crore grant to startups setting up in Karnataka under the deeptech fund.
Manjula also said that the BTS also set platform for a state-to-state or academic-to-academic collaboration, helping to transfer knowledge and technology and learning from each other.
The senior official also said that data centres are facing power availability issue and the state government is encouraging through incentives and aides to use power efficient technology in data centres. She also said that the water crisis in the data centres wont be an issue anymore because the new data centres are using technologies that don’t consume water in huge quantities.