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Plan to give startups a boost, create 20 lakh jobs: Deputy CM

Plan to give startups a boost, create 20 lakh jobs: Deputy CM


Plan to give startups a boost, create 20 lakh jobs: Deputy CM

The Karnataka government intends to stimulate the growth of 2,000 electronics system design and manufacturing (ESDM) startups by 2022 and create 20 lakh jobs by 2025, Deputy Chief Minister of the state Dr C N Ashwath Narayan said on Monday. Dr Narayan, who holds the electronics, IT/BT portfolio, said at an event organised by the Indian Electronics Semiconductors Association (IESA) to award ‘technovation’ winners of the ESDM sector. He exuded confidence of achieving the target through skill development, quality infrastructure, eco-system support, encouragement to startups, and ease of doing business.

“The ESDM industry is one of the fastest-growing sectors in the country and can play a huge role in its economic recovery,” Narayan said. “Accordingly, the Central government has instituted forward-looking policies to foster the growth of the electronics eco-system,” he said. According to him, Karnataka contributes 64 per cent to the ESDM exports and 10 per cent to electronics industrial output. “The state is the nation’s largest chip design hub. Nearly 70 per cent of the chip designers are based here,” Narayan said. Stating that the state has a policy which encourages the growth of the ESDM sector, he said the government has introduced many incentives and relaxations to promote the setting up of startups.

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During the programme, startups, which bagged the award, were Path Shodh, Hack Labs, Devic Earth, Acceleron Labs, EVQpoint and AlphaIC. In the startup incubator category, SINE and IIT- Mumbai were given the award. In the medium, small and the micro enterprises (MSME) category, Saankhya Labs, SkanRay, iWave and Sahasra got the award while AMD, BEL, Einfochips and Wistron were awarded for being an enterprise. Nivrut Rai, Prof Ramagopala Rao, Prof A Paul Raj and Aruna Sundararajan were given the award of techno-visionary.

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