‘Booster Kit’ for startups from Karnataka government

By : |July 26, 2016 0

Karnataka government’s Startup Cell on Monday announced a ‘Start-up Karnataka Booster Kit’ for startups registered with it.

The kit contains a gamut of software tools such as cloud credits, access to mentors, legal and accounting consultants, access the Government of Karnataka funding, and incubators. Besides these, the Karnataka Biotechnology and Information Technology Services will help startups with marketing and promotion, sponsorship to attend networking events, administer tax incentives, and assist in patent filling.

Making the announcement, Karnataka’s IT, BT and Tourism Minister,Priyank Kharge said, “I want to help Bengaluru get listed among the top 10 startup ecosystems in the world as we are growing at a tremendous pace. The government will help push it further with Startup Karnataka, which will give them access to funds and policies that nurture and incubate startups.”

The minister also said that financial support equivalent to approximately Rs. 400 crore in the form of a grant, equity through various funds to startups, micro and small enterprises in IT, BT, and other manufacturing sectors will be rolled out in the next four years.

For cloud services, the government has partnered with IBM, Digital Ocean, Amazon Web Services, Microsoft Bizspark and KEONICS. For providing virtual telephony and Internet services, mGage, Knowlarity, Exotel, Ozonetel, BSNL, Vodafone and Airtel have partnered the cell. For debugging, testing and other software tools, CanvasFlip, FlexingIT, Headspin, and Erospike have come onboard.

Payment gateways such as Citrus, Razorpay, Instamojo, and ProfitBooks have also partnered the initiative. All these services will be available as a special package and at the lowest cost to the startups here.

Kharge added, “The best part of it all is that these startups do not have to any longer sit at government-authorized incubation centers to avail and access these benefits. They can have their working spaces anywhere in the State.”

The startup kit also provides for upto Rs 50 lakh reimbursement for VAT/CST for a three-year term and for the first time introduced patent incentives where those filing patents will be reimbursed. Priyank said those filing domestic patents will be reimbursed upto Rs 2 lakh and those filing foreign patents will be reimbursed to the tune of Rs 10 lakh. “This is to encourage patents from Karnataka-based startups as we are all aware that there are many patented products that have already come out of this ecosystem.’’

There is more. Kharge said a monthly open house is planned to provide an opportunity to registered startups to meet department officers. The first session is scheduled on August 16.

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