By 2025, the Karnataka government plans to create 20 lakh jobs. This will be achieved by facilitating the growth of about 2,000 startups in the electronics system design and manufacturing (ESDM) space.
The state government plans to focus on skill development, build quality infrastructure and provide eco-system support, so that startups find it easy and convenient to function and do business.
Considering that Karnataka accounts for about 64 per cent of the ESDM exports and 10 per cent of the output in the electronics industry, the introduction of progressive policies by the Central government to give the much-required push to the electronics sector will only fasten the economic recovery.
Karnataka is India’s biggest hub for designing chips, as it is home to almost 70 per cent of the chip designers in the country.
The state’s policy encourages the growth of the ESDM sector, and many incentives and relaxations have been brought in to further encourage startups.
The Government of Karnataka was amongst the first to announce the establishment of a dedicated Startup Cell, aimed at promoting Bangalore and Karnataka as the ultimate startup destination in the World. This Cell will help startups connect with government departments to implement pilots. It will serve as a one-stop shop for information on regulatory environment, incentives, events and so on. It will also network with industry bodies, academic institutions and incubators from the startup eco-system.