Increased domestic funding and FDI inflows propel Karnataka to the top of the India Innovation Index
- ByStartupStory | July 25, 2022
The NITI Aayog’s India Innovation Index 2021 assesses the level of innovation in the country over the previous year. According to the survey, Karnataka is the most populous state, followed by Telangana and, shockingly, Haryana.
Dr. VK Saraswat, a member of the NITI Aayog said, “Innovation is the key to sustainable and inclusive progress, and that it helps tackle the largest concerns of our day, such as lifting millions out of poverty, creating job opportunities, and paving the road for an Aatmanirbhar Bharat.”
Thus, human capital, investment, knowledge workers, business environment and safety, legal environment, and knowledge output and diffusion were among the characteristics that ranked Karnataka among the top states supporting innovation.
Bengaluru, Karnataka’s capital and India’s Silicon Valley, has served as the poster city for the startup ecosystem. As a result, the state has seen a large inflow of funds. Bengaluru topped Collier Research’s Tech Jewels 2019 Asia rating; Karnataka was the top performer in 2021 under the National State Startup Ranking Framework.
As a result, the Karnataka government has set a goal of contributing $300 billion to the country’s $1 billion digital economy, the largest among all states. Apart from investment, Karnataka did not score first in any other category, although it was among the best performers, earning it first place in the total rankings.
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