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20,000 Start-ups Companies & 6 lakh Direct Jobs by 2020 in Karnataka says CM Siddaramaiah

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Karnataka state is one of the Developed in India. It is known as the tech-savvy state with Bangaluru as a IT capital of India. According to IANS, the Karnataka government has recently revealed a start-up policy 2015-2020 to promote entrepreneurship in the state. Karnataka will have 20,000 start-ups by 2020. This will not only enrich the industry but will also create six lakh direct jobs and 12 lakh indirect jobs.

Chief Minister Siddaramaiah said in the flagging off 18th edition of Bangalore ITE biz 2015. We are setting up a start-up cell as a one-stop-shop to help young entrepreneurs float start-ups and guide them in launching their ventures as they will have little knowledge of corporate affairs.

More Details for 20,000 Companies & 6 lakh Jobs by 2020 in Karnataka:

Karnataka has an estimated GSDP, Gross State Domestic Product of about US$70 billion. “With hundreds of entrepreneurs with creative ideas setting up start-ups here, Bengaluru is also emerging as the country’s start-up capital over a decade after it became the IT capital,” the Chief Minister added.

    • The 3-day annual event showcases the state’s power in the knowledge sector, with over 2,000 firm.
    • It Includes, 500 global IT majors, multinationals and offshore software development centres for services and products.
    • Providing 1.5 million direct jobs and 2.5 million indirect jobs.
    • Bengaluru has the distinction of being the country’s largest IT cluster.
    • 350 of the Fortune 500 firms locating their R&D and offshore development operations.
    • A major hub for software and hardware firms, including home-grown Indian IT giants like Infosys and Wipro.
    • Research and academic institutions in the government and private sectors and best higher education system, including universities.

Noting that the start-up policy covered information technology, biotechnology and manufacturing sectors, Siddaramaiah said that a start-up council under his chairmanship would review implementation of the policy on a regular basis for feedback and suggestions.

The start-up policy is an outcome of the state government’s ‘Karnataka I-4′ initiative launched in 2014, spanning IT, IT-enabled services (back office and business process outsourcing), innovation and incentives.

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Praveen Jain
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