With over Rs 600 crore, the Karnataka government is going to change the state of advanced technology and innovation with the "DeepTech Decade" initiative that they launched. The program is meant to alleviate startup and entrepreneurship pressures in such sectors-of-frontier as AI, ML, quantum computing, and advanced manufacturing, robotics, and sustainability solutions.
Priyank Kharge, the Minister for IT & BT of Karnataka said that the state is ready to foster a full-fledged ecosystem of research-driven entrepreneurship that will make Karnataka the DeepTech capital of India.
The project is about taking innovation further than just Bengaluru and investing in the local economy and people. Tier-2 and tier-3 cities like Mysuru, Mangaluru, Hubballi-Dharwad, and Kalaburagi are the primary targets of this plan.
The core actions are among them the DeepTech Elevate Fund that aids AI and new technology startups; the Elevate beyond Bengaluru Fund that is designed for regional development; and KITVEN that provides early-stage DeepTech startups with the needed capital via equity-based investments.
Also, Rs 48 crore is there to create incubators and accelerators at IIT Dharwad, IIIT Dharwad, and Kalaburagi, whereas Rs 110 crore is going to support the 11 academic institutions in seed-level research and development.
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Thanks to a combination of tactical funding, support for infrastructure, and partnerships with the academic world, the DeepTech Decade initiative is committed to not just starting but sustaining a social and innovative culture based on inclusion across the entire Karnataka region.
Apart from accelerating research-driven entrepreneurship, this move is supposed to position the state as a front-runner of technological advances not only in India but globally as well, which means that the next wave of tech leadership will come from Karnataka’s DeepTech area.
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