Bengaluru: Karnataka Minister N S Boseraju said that a state-level research foundation will be formed to conduct research and development in startups and industries. Stating that Bengaluru is rightly described as the startup capital of the country, Boseraju said the government has created an enabling atmosphere in terms of infrastructure because of which a number of startup industries are coming up in a big way.
“In order to create a favourable environment for research and to spur new startup products in the state, the Karnataka State Research Foundation will be established,” said Boseraju.
The minister was addressing the Indian StartUp Festival-2023 in Chikkaballapur.
Terming R&D important, the foundation, as per the minister, will bridge the gap between startups and other stakeholders and will ease access to research and development. He also invited domain experts and other individuals to offer their insights into the proposed foundation.
The minister also said that constant R&D in the domain of science and technology was fundamental for the growth of the local startup ecosystem.
This development is nothing new. The state budget, last month, had proposed the creation of the Karnataka State Research Foundation (KSRF) to effectively monitor and evaluate the implementation of the Karnataka Research, Development and Innovation Policy.
Karnataka is home to the country’s startup capital Bengaluru, which counts, according to reports, close to 1,700 funded startups across a gamut of sectors.