K'taka govt announces global innovation alliance to help start-ups enter new markets

Government of Karnataka on Tuesday announced the launch of Global Innovation Alliances Market Access Program (GIA MAP) at Bengaluru Tech Summit 2019 here.

"GIA MAP supports export expansion projects, by helping start-ups to enter new markets, establish international partnerships, and increase global sales. The program would have two parts, inbound and outbound," said a press release.

Adding that the aim of GIAMAP is to forge lasting business relationships, and to support startups in achieving international growth, the release said: "Partnering with Berlin Senate-backed initiative Startup Asia Berlin (SUAB), the first cohort of German startups will explore the Indian market from November 13 to December 3. Following this, Karnataka startups are expected to visit Berlin for a similar program early next year."

Dr EV Ramana Reddy, Additional Chief Secretary, Department of Information Technology (IT), Biotechnology(BT) and Science and Technology (ST), said: "We have embarked on creating a system of Global Innovation Alliances with innovation hubs of the world such as USA, UK, Isreal, France, Germany, etc."

"With startup promotion as one of the key focus areas for our government, we are pleased to launch GIAMAP to further engage with our international partners in this area. Bengaluru being the Startup Capital, would pave the way for international startups to access the Indian market via Bengaluru," Reddy added.

Welcoming the new initiative, Ramona Pop, Berlin Senator for Economics, Energy and Public Enterprises, said: "Startups play a crucial role in the development of new technologies. In order to tackle the challenges of the 21st century, we need innovators who think outside the box. We are happy to support this exchange between German and Indian startups. Finding solutions across borders will undoubtedly help both regions to thrive.