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Karnataka govt to support startups through Startup Booster Kits

Karnataka govt to support startups through Startup Booster Kits
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There are a range of problems that startups face and some of them are policy related and other implementation issues. Notably, the state government of Karnataka has embarked upon a new initiative meant to address problems that startups in the state undergo and provide necessary support. These problems could relate to simple things like understanding government’s stance on service tax payment for startup entrepreneurs.

It is reported that Karnataka’s new information technology minister, Priyank Kharge, is in the process of finalising a new programme to strengthen startup ecosystem in the state.

Startup entrepreneurs face a host of problems and the state government intends to address these through its proposed Startup Booster Kits, Kharge, told an online daily.

“They may find licensed software or data storage or internet expensive. They may be facing a lack of legal and accounting assistance. They may not know if their idea is good enough or can become a proof of concept. We will help them,” the minister said.

As a part of the programme, Kharge has plans to begin an integrated startup cell and acess to booster kits that will address nearly all needs of entrepreneurs.

“We will give all kinds of help, including legal, accounting and mentoring. If you have an idea and want to develop it as a proof of concept, one can do that in our incubation centres. I have about 300 extra seats lying vacant, which I can share with about 100 startups,” the IT minister added.

Further, the IT department will help srartups connect with venture capitalists and will provide access to government funds earmarked for different sectors. All these benefits will accompany startup’s registration with the startup cell.

The IT department has plans to make sector-specific back end processes for dealing with startups such as access to specific funds earmarked for women entrepreneurs, SC/STs, and the aerospace, pure sciences and agriculture sectors. Further, it will groom startups wherever possible and will partner with various dealers who are willing to provide their products and services to registered startups at a concession.

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