Karnataka to open four technology business incubators

The Karnataka government would set up four technology business incubators across the state in 2016-17, Chief Minister Siddaramaiah said on Friday.

"The incubators will be set up in the areas of Internet of Things (IoT), Electronics System Design and Manufacturing (ESDM) robotics, 3D printing, nanotechnology, medical devices, health technology and clean technology," he said while presenting the budget.

Referring to the start-up policy framed to encourage innovation and building an eco-system for growth of start-ups in IT, biotech, ESDM and other knowledge sectors, he said state-run Keonics would set up the incubators and common instrumentation facilities in Bengaluru and in the IT parks of Shivamogga, Bagalkote and Kalaburgi.

"Ten incubators will also be set up in post-graduate and professional institutes across the state under the new age incubation network. An incubator will come at Bagalkote for research and development in biotech start-ups," he said.

The budget has also proposed to set up centres of excellence and finishing schools in IT, electronics and animation sectors on the lines of Biotechnology Finishing Schools (BTFS) across the state.

"The Rs.56 crore Bengaluru bio-innovation centre ha been commissioned to provide access to high-end instrumentation and laboratory facilities to micro, small and medium enterprises," Siddaramaiah said.

The state government has also set up the Karnataka Semiconductor Venture Fund with Rs.100 crore corpus to provide venture capital to chip companies.

"The Karnataka Geographic Information System (K-GIS) has been set up to use spatial technologies in decision-making and planning," he said.

The budget has proposed to allot Rs.222 crore to the department of IT, BIT and S&T in the ensuing fiscal.