Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Jan 21: At a time when mega industries are shifting out of the state, Karnataka is turning into a heaven for startup sector. After the startup policy was introduced by the current government, as many as 5,000 new startups have been registered in the state and as per current indications, about 20,000 startups might get established here by the year 2020.

Startup policy of Karnataka extends more benefits and facilities than the ambitious 'Make in India' and 'Startup India' schemes of the centre are doling out. Highest number startups which were established during the year 2017-18 account for this difference. The government therefore has reason to believe that its dream of achieving 20,000 startups in the state by 2020 might actually be realized.

The government has set its sight on generation of six lac direct and 12 lac indirect jobs on account of 20,000 startups in future. Curiously, the startup policy of Karnataka has been lapped up more aggressively by the citizens of other states rather than Kannadigas.

This has given rise to the apprehension that the young people from the state might be deprived of opportunities. As per figures of the IT BT department, most of the people who are registering themselves in Karnataka are from Andhra Pradesh,Uttar Pradesh, Gujarat, Delhi etc. Minister of the department, Priyank Kharge, assured that the government will not allow interests of young people from the state to be jeopardised. He mentioned that inventions coming from anywhere have to be welcomed but reminded that as per the conditions set forth by the state government, the startups getting subsidy from the government have to employ not less than 90 percent of their staff from Karnataka.

"We pay subsidies to only those companies which register their companies under Karnataka Shops and Commercial Establishments Act 1961 and pay taxes here," he clarified.

Till now, the government has extended assistance to 333 startups since 2017 and surprisingly, highest startups have been registered under agri technology. Several startup companies have been created to successfully ensure that benefits of various schmes under government schemes under health, malnutrition, social service etc for which the government spends crores of rupees, reach the genuine people.