BENGALURU: Startups were at the vanguard of the Information Technology, Biotechnology, Science and Technology section of the budget, which was presented on Friday.
Chief Minister Siddaramaiah announced that the government would establish a ‘world-class’ incubation centre ‘Innoverse’ at a cost of Rs 50 crore to develop startups.
Meanwhile, a new programme, ‘Propel’ would start to accelerate the adoption of startup solutions funded under the Karnataka Startup Policy 2022, with an allocation of Rs 1 crore.
The chief minister also announced the establishment of a Centre of Excellence (CoE) in Health and Med Tech, a CoE in Wireless and Wired Technologies, and a CoE in Design for Rs 23 crore.
“To implement Karnataka Research Development and Innovation policy, it is essential to formulate strong, transparent administrative outlines and to supervise and evaluate. A new organization called Karnataka State Research Foundation (KSRF) will be formed for this purpose,” said Siddaramaiah.