“The state is home to about two million IT professionals and its capital city Bengaluru forms a base for over 50 per cent of India’s multinationals, along with strategic-analytic firms,” according to Champa E, general manager -IT at the Karnataka Innovation & Technology Society (KITS), part of the state government’s Department of IT, BT and S&T.
“Many of them outsource services, which has given rise to several start-ups,” she said at Bengaluru India Nano 2022. “The ideas emerging from these start-ups have attracted venture capitalists (VCs) and angel investors.”
There are other factors that have made Karnataka a favourable destination for start-ups. The state’s start-up policy launched in 2015, offers a roadmap for building an ecosystem, complete with incubation, go-to-market products and attracting VC funding. The Government of Karnataka (GoK) has established start-up incubation centres in engineering colleges in several parts of the state. Many...