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Karnataka goals to create 25,000 startups in subsequent 5 years
Bengaluru, Dec 23 (KNN) The Karnataka cupboard on Thursday permitted the startup coverage 2022 with the purpose to make state a champion of startups.
The permitted coverage goals stimulate 25,000 startups within the subsequent 5 years.
The Karnataka startup coverage additionally goals to create a Rs 100-crore enterprise capital fund to assist rising modern and deep-tech startups in synthetic intelligence, machine studying, electrical automobiles, robotics, drones and different disruptive applied sciences throughout all sectors.
As per stories, the state authorities will present a one-time grant-in-aid of as much as Rs 50 lakh to the chosen startups.
The coverage additionally focuses on encouraging startups past the state capital, looking for to arrange 50 new-age innovation networks (NAIN) in expertise establishments exterior Bengaluru City district.
Every NAIN will get Rs 5 lakh per scholar undertaking for 3 years and as much as Rs 12 lakh in the direction of operational expenditure yearly.
The federal government has additionally determined to supply 25 per cent of the whole value, or as much as Rs 45 lakh, for a interval of three years.
The coverage additionally supplies for a Rs 10-lakh direct mortgage for feminine entrepreneurs by the Karnataka State Ladies Improvement Company and 25 per cent reservation within the Rs 100-crore enterprise capital fund. (KNN Bureau)
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