Karnataka’s new startup policy aims big, to promote 25K startups by 2027

• ByStartupStory     |    December 24, 2022

The Karnataka Cabinet has given green light to the Karnataka Startup Policy for the next five years, from 2022 to 2027. The startup policy proposes major changes for startups in what are arguably India’s most important startup hubs, fostering the growth of thousands of startups in the process.

With the new policy, Karnataka, which was named the ‘Best Performing’ state by the DPIIT in the State Startup  Ranking 2021, hopes to solidify its position at the top of India’s startup hub food chain.

“The new policy framed by the Department of Electronics and IT/BT has the aim of positioning Karnataka as the ‘Champion State’ for startups and further increasing the number of high-growth startups by 2027,” said the minister for Higher Education, Electronics and IT/BT, Dr CN Ashwath Narayan while launching the new policy on December 22, Thursday .

The Karnataka Startup Policy 2022-27 is based on nine pillars and has seven objectives. Some of the key objectives of the policy include:

• Strengthening of infrastructure set up in government institutions
• Supporting the startup ecosystem, with an increased focus on startup hubs ‘Beyond Bengaluru’
• Inculcating innovation and entrepreneurial skills in students
• Facilitating innovative technology solutions in social governance sectors
• Supporting the creation and development of incubation
• Acceleration infrastructure as key enabler
• Facilitating funding avenues for institutional investors and angel investors

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