Do you have innovative start up ideas and struggles to get proper investment for your start ups, then consider about the launching your new start up in Karnataka. Yes! The Karnataka state government now offers financial benefits for the Entrepreneurs and startups for registering in Karnataka state, especially the start ups over the technological field.

Statement from the IT minister of Karnataka

Mr. Priyank Kharge, the state Information technology minster has conveyed that the technology startups across the country registered in the Karnataka state can avail the state funds if they manage to register their concern under the Karnataka Shops and Commercial Establishment Act, 1961.

During the press meet, the state IT minster quoted that the current state government has keen on taking the startup policy throughout the nation to the next level. They provide various benefits including the financial assistance by the state government if the startups register under the Karnataka state government and pay taxes here.

Once the startup ideas approved by the Karnataka startup cell, the state government ready to fund for establishing the businesses, according to the sources, the current status is people can either to choose either work from home basis or work on the move with lap tops. The ideas of the Karnataka state government will be the game changer in the nation.  

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image: socialvani.com

Overview of the startup policy

Well, if we look back the state government of Karnataka has started its startup policy in the year of 2015 and offered up to Rs. 300 Crore to the startup companies started in various fields including the tourism, animation, and bio technological sectors. Government willing to provide up to Rs. 50 Lakh for the innovative and eligible ideas, and the minister also quoted that the state government has the vision of creating 20,000 technology-bases startups in Karnataka by the end of 2020.