This initiative was an extension of the global capability centres (GCC) policy the government came up with, becoming the first state to do so. These will be dedicated parks for GCCs to set up shop here in the state, he said, at the well-attended event in the presence of hundreds of overseas delegates.
In Bengaluru, the global innovation district will be part of the Knowledge, Wellbeing, and Innovation City (KWIN City), about 45 minutes from the international airport. These districts will serve as a global hub for innovation and research, the CM added.
Karnataka has been a preferred destination for GCCs, thanks to the availability of engineering talent and AI professionals. The state’s programmes like ‘Nipuna Karnataka’ aimed at skilling the youth to create an industry-ready workforce would further strengthen the state’s GCC leadership position, he said.
Siddaramaiah announced that his government on Tuesday signed five MoUs with Microsoft, Intel, Accenture, IBM and BFSI consortium which would train about one lakh people with the necessary skills.
Big jump in startups
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Karnataka’s startup ecosystem has seen remarkable growth, with an 18.2% increase from 2022 to 2023, totalling 3,036 startups and making the southern state the leader with 8.7% of India’s total startups. “This success reflects our strong support and vibrant opportunities for entrepreneurs,” Siddaramaiah said.Karnataka’s collaboration with the Indian Venture and Alternate Capital Association (IVCA) has connected more than 200 startups with 100 funding firms, providing capital, mentorship, and growth opportunities.
Through a cluster-based approach, the government was driving balanced regional growth, from Mangaluru’s fintech leadership and Hubli-Dharwad’s advancements in EVs and drones – to Mysuru being a PCB cluster, the CM said.
Siddaramaiah announced an electronics manufacturing cluster (EMC) at Kochanahalli in his home district of Mysuru. The EMC, he said, would strengthen Karnataka’s role in the global semiconductor industry, creating jobs and driving economic growth in both urban and rural regions.
Ease of business, living
The government has launched many mega projects to improve ease of living and ease of business in Bengaluru, including the tunnel project and Bengaluru Business Corridor, deputy CM DK Shivakumar said.
The PRR project was gathering dust for more than a decade, but now the government has kickstarted it and the work would start in six months, he said, speaking at the tech summit. “This project will solve traffic congestion in the city to a large extent. It will significantly help businesses on Outer Ring Road also. We have got the Cabinet approval for the tunnel project. It will also significantly improve traffic flow through the core of the city,” he said. Bengaluru, he added, was home to about 400 Fortune 500 companies. Karnataka is the global destination for startups, and I’m proud to say that the world’s tech leaders call Karnataka home.
