Favourable policy helping start-ups in Karnataka: Minister Ashwath Narayan

PTI, Jan 16, 2022, 4:30 PM IST

Bengaluru: Extolling the start-up policy of Karnataka, the state Minister for IT-BT and Skill Development Dr C N Ashwath Narayan on Sunday said that out of 46 start-ups chosen from across India for the National Start-ups Awards-2021, 14 are from Karnataka.

Addressing a press conference on the achievements of start-ups from Karnataka on the occasion of National Start-ups Day, Dr Narayan said 2,173 applications were submitted from across the country for the awards this year. Among the total applications, 549 were from Karnataka, he added.

”Of the 46 start-ups set to get the national awards, 14 are from Karnataka, which is 30 percent of the awards given this year to start-ups,” Narayan told reporters.

He said the state is at the forefront in terms of infotech, fintech, meditech, agro-tech, biotech, and industrial innovations.

According to him, Karnataka is the only state that gives seed funds to start-ups and has chosen about 200 such companies to give seed funds.

Under the Amrit- Start-up Scheme to celebrate the platinum jubilee of India’s independence, the government is funding 75 start-ups, the minister said. He also said that those getting the funds include companies launched by backward communities, women, and minorities.

Narayan said the state has also launched Elevate Women scheme to fund the start-ups launched by women.

”Based on the performance of the start-ups, we give up to Rs 50 lakh as seed fund. We have so far given seed funds to 498 start-ups, of which about 200 got this year,” the minister said.

The start-ups from Karnataka which received the national awards include Umbo Idtech, Athreya Global Solutions, Leucine Rich Bio, Rubanbridge, Naffa Innovations, Simplotel Technologies, Zentron Labs, Shapos Services, Stellapps Technologies, Steradian Semiconductors, Marketxpander Services, Blinkin Technologies, and Thinkerbell Labs, the minister said.