Seed funding to be provided by Karnataka to 200 startups: Reports

Recently C.N.Ashwath Narayan, Karnataka Minister for IT/BT and Skill Development,  hasa said that 200 businesses startups would be given an initial fund assist of up to Rs 50 lakh each this year to stimulate technological innovation in the state.

"This being the year of Azad Ka Amrit Mahotsav (75th year of Independence), the seed money would be given to extra 75 businesses, bringing the total to 200 Startups in the year," he said at the maiden 'National Startup Day' event held at Vidhana Soudha.

In the current fiscal year, the state has garnered Rs 1.60 lakh crores in foreign direct investment, accounting for more than half of all investments in the country.

"Of the total 57,000 startups in the country, almost 13,000 are located in the state." "The emphasis on digital education and skill development will be focused through successful implementation of NEP in order to retain the state's leadership position in the field," he stated.

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