Karnataka to introduce sector-based booster kits for startups in a month’s time

The Karnataka government plans to introduce new sector-based booster kits for startups, focusing on specific needs and collaborations.

The Karnataka government is planning to introduce new sector-based booster kits for startups in the State in a month’s time.

IT/BT Minister Priyank Kharge told The Hindu that that the new kit would be much more practical than the earlier ones with its sector-based approach.  

“We are evaluating what it is that a particular sector needs. For example, in the biotech space, startups are not the problem, scaling is; Idea to proof of concept is not a challenge, but from there to Stage-1 is. After that funding gets easy. If it is a robotics startup, they can be tied up with ARTPARK. If it’s a life sciences startup, they could be given an opportunity to work in medical science colleges or other similar institutes. We are talking to people in various sectors and trying to figure out how to help,” Mr. Kharge said. 

The startup Karnataka booster kit was launched initially in 2016. The kit currently includes a range of software tools, cloud credits, access to mentors, incubators and government funding, and legal and financial consultants, and is available for any startup registered with the government of Karnataka. 

“The last booster kit that was made was during my previous tenure. The successive governments did not bother about that. Now, I’m talking to startups, engage with them very often and trying to understand what they want specifically,” the Minister said. 

 Mr. Kharge also noted that in the context of the ongoing funding winter, the government, for the first time, has been working with the Venture Capitalists to come up with a blueprint to understand how the former could help startups add more value.

The government is also coming up with a framework which would allow fewer number of startups to fail, he said.