Karnataka to unveil policy in 100 days to incentivize industries beyond Bengaluru
Karnataka Chief Minister D.K. Shivakumar announced at the Annual CEO Breakfast Meet that the state government will introduce a policy within 100 days to incentivize industries to establish operations beyond Bengaluru, offering world-class office infrastructure at highly affordable costs, including office space in other cities for as little as 50 cents per square foot. He highlighted Bengaluru's cost advantage, noting companies can achieve for $1 what costs $3.50 elsewhere. Shivakumar also called for industry partnership to establish an AI University, with discussions already held with Google, aiming to introduce AI education from class 6 in rural areas. IT and BT Minister Priyank Kharge announced the formation of an Innovators Foundation under a PPP model to support deep-tech startups, and the launch of Elevate Next with ₹33 crore in grants distributed to 33 deep-tech startups, 12 of which are women-led. The state's software exports have crossed ₹4.36 lakh crore and are expected to exceed ₹5.5 lakh crore this fiscal year.
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