Thursday, July 6, 2017

Rs.400-crore fund to accelerate #startups in #Karnataka says Min. @PriyankKharge

Bengaluru:Karnataka government will soon launch a startup booster kit to encourage entrepreneurship and business initiatives in the state, Karnataka IT Minister Priyank Kharge said it in his inaugural address at opening of the two-day Global Mobile Apps Summit and Awards 2017 (GMASA2017) in Bengaluru yesterday.

He said the government has a startup policy to stimulate the spirit of entrepreneurship in the state. The government has set up Rs 400-crore fund to accelerate 100 startups from each sector. “The only objective is to help startups succeed. We provide all support including idea validation, legal help, access to funds and mentorship. Karnataka is the only state to set up an exclusive fund to support companies that are into animation and gaming,” Kharge said. Startups will get subsidised plans for high-speed internet, incubator facility, subsidised licence products, mentor facility, financial experts, accounting and legal assistance as well to create a conducive startup ecosystem in the state.

Welcoming Priyank Kharge on to the stage, C R Venkatesh, Chairman, GMASA, said this edition of GMASA is receiving 1,600 participants including mobile app developers, marketers, managers and executive from some of the best companies around the world. The event is being supported by 19 corporate partners and 12 sponsors.