Karnataka govt to set up Innovation Authority and vision group for startups

Addressing executives of IT and biotech industry here, Yediyurappa said Karnataka accounts for about 35 per cent of the country’s biotechnology market share. and about 40% of the country’s software exports.

Karnataka chief minister BS Yediyurappa has announced that the state would have an Innovation Authority and a vision group for startups.

Karnataka chief minister BS Yediyurappa has announced that the state would have an Innovation Authority and a vision group for startups. (ANI Photo)

Addressing executives of IT and biotech industry here, Yediyurappa said Karnataka accounts for about 35 per cent of the country’s biotechnology market share. and about 40% of the country’s software exports.

“Karnataka State is on the mission to promote faster and inclusive growth. We recognise the prominence of IT to achieve this goal and we are going to announce the revised IT Policy in the coming days. The policy will focus on attracting investments and employment to Tier-2 and Tier-3 cities,” Yediyurappa said, urging firms to invest in Mysuru, Mangaluru, Hubballi-Dharwad and Belagavi.

Yediyurappa said the government would announce a Karnataka Innovation Authority, which would be headed by deputy chief minister C N Ashwath Narayan.

“I am also pleased to announce that we will be constituting a Vision group for Startups, which will provide insights on strengthening the startup ecosystem, involving key stakeholders from industry and academia,” he said.