With the IT hub’s GDP projected to grow at 8.25% by 2035, it is not surprising that Bengaluru is the preferred venue for global events like the ninth TiE Global Summit (TGS), Karnataka’s IT-BT and Rural Development Minister Priyank Kharge said on Thursday. According to him, Bengaluru is the epicentre of India’s startup ecosystem.
“We get to read a lot saying that Telangana is overtaking or Andhra Pradesh is overtaking. But they are nowhere close to Bengaluru, and the competition only helps us get better. Also, when it comes to support for events like TGS – which needs access to the government, its policy and its funds – it can be found only in Karnataka,” Kharge said at the curtain-raiser event organised in Bengaluru today.
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Emphasising Karnataka’s efforts to encourage startups, Kharge pointed to the grant programme open for women-led startups. “These women entrepreneurs will be given a grant of ₹50 lakh. We have zero stake in their ventures, they do not have to repay; it’s a grant. We give them access to capital, we mentor them and ensure that they succeed,” he added.
Kharge also pointed out that globally Bengaluru is a preferred destination for investors because of the ecosystem in Karnataka, as the government looks beyond Bengaluru when putting in place its various policies. “For instance, we have funded around 983 startups. Out of which 32% are in tier II and tier III cities. Mysuru cluster has 402 startups, Mangaluru cluster 432 startups, Hubli, Dharwad and Belagavi cluster has 463 startups,” Kharge said.
{{/usCountry}}Kharge also pointed out that globally Bengaluru is a preferred destination for investors because of the ecosystem in Karnataka, as the government looks beyond Bengaluru when putting in place its various policies. “For instance, we have funded around 983 startups. Out of which 32% are in tier II and tier III cities. Mysuru cluster has 402 startups, Mangaluru cluster 432 startups, Hubli, Dharwad and Belagavi cluster has 463 startups,” Kharge said.
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Karnataka’s Minister of Commerce & Industries and Infrastructure M B Patil, who was also present at the curtain-raiser event on Thursday, announced that the registration for the second edition of the VentuRISE Global Startup Challenge, an initiative of the Karnataka government open to all startups all over the world. The four-day TGS 2024, which is expected to attract more than 25,000 entrepreneurs from over 50 countries, will be held between December 9 and December 11 in Bengaluru and December 12 in Mysuru, Chair of TGS24 and President of TiE Bangalore Madan Padaki said.
According to him, the theme this year is ‘Putting Entrepreneurship First’. Global leaders, investors, successful entrepreneurs, and policy and ecosystem actors will be sharing their learnings and perspectives in a diverse set of master classes, investor pitch sessions mentoring clinics and networking lounges, Padaki added.
He also said the ninth edition of TGS coincides with TiE Bangalore’s 25th anniversary and will feature initiatives like Futurepreneurs Conclave, TGS100 Awards, TiE Women Global Pitch Competition, Global #SpiritofTiE Awards and global hackathons. The summit is supported by the Karnataka Digital Economy Mission (KDEM).
The other dignitaries who were present at the curtain-raiser event on Thursday are Karnataka State Electronics Development Corporation Limited Chairman Sharath Bachegowda, Secretary of the Department of Electronics, Information Technology, Biotechnology and Science & Technology Ekroop Caur, Commissioner for Industrial Development and Director for Industries and Commerce Gunjan Krishna, Chairman of Karnataka Start-up Vision Group Prashanth Prakash, Chairman of Karnataka Digital Economy Mission (KDEM) B V Naidu and TiE Global Chair Amit Gupta.
Registrations for TGS 2024 are now open. Participants can register at https://tgs2024.org/