Karnataka Government has announced its plan to start extending funds to Tech startups in the country. This tech startups funding across India is being initiated by launching a fund, exclusively for Tech startups in India. The State IT Minister, Priyank Kharge, has invited startups across the country to register in the state.
Entrepreneurs can avail the funding by registering their company under the Karnataka Shops and Commercial Establishment Act, 1961.
According to Kharge, approximately 5000 startups have registered with the Karnataka government till now, of which, 250 companies received the funding in 2017. The Karnataka Startup Policy was launched in 2015 to bring about growth of 20,000 Tech startups by 2020. The plan is also to generate 12 lakh indirect and 6 lakh direct new jobs in the sector.
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