In­no­va­tion au­thor­ity on the cards for star­tups: HDK

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Ben­galuru: Kar­nataka In­no­va­tion Au­thor­ity would be set up through a statute with pow­ers to re­lax and over­come le­gal hur­dles faced by star­tups en­gaged in in­no­va­tive tech­nolo­gies and ideas, Chief Min­is­ter H D Ku­maraswamy said on Thurs­day.

The Au­thor­ity would be headed by the Chief Min­is­ter.

Ad­dress­ing the Ben­galuru Tech Sum­mit 2018, an an­nual event, here, he said the govern­ment was also cre­at­ing a le­gal frame­work for the pro­tec­tion of in­tel­lec­tual prop­erty.

A blockchain-based in­tel­lec­tual prop­erty registry would be es­tab­lished, wherein ideas would be pro­tected for en­abling com­mer­cial­i­sa­tion, he said.

The govern­ment has been en­cour­ag­ing and pro­mot­ing in­no­va­tion by fund­ing un­der the ‘El­e­vate’ pro­gramme, the Chief Min­is­ter said.

A grant of upto Rs 50 lakh is pro­vided by the govern­ment to star­tups hav­ing in­no­va­tive ideas for pro­vid­ing so­lu­tions to chal­lenges in the so­cio-eco­nomic sphere, he said adding that 77 star­tups have been ap­proved for fund­ing this year.

“A sum of Rs 16 crore has been ear­marked for this,” he said.

“Fur­ther, to en­sure that the back­ward re­gions of the state, par­tic­u­larly the Hy­der­abad-Kar­nataka re­gion, to also ben­e­fit from such ini­tia­tives, we have started the ‘Ac­cel­er­ated As­sisted El­e­vate’ for the star­tups in the re­gion,” he said.

As many as 10 star­tups from that re­gion have been se­lected for a fund­ing of Rs 111 lakh this year, he said.

The govern­ment has also be­gun forg­ing global in­no­va­tion al­liances with coun­tries in de­vel­op­ing the ecosys­tem for in­no­va­tion and en­trepreneur­ship, Ku­maraswamy said.

“Ben­galuru is ranked 20th among the global in­no­va­tion cities of the world,” he said.

The in­for­ma­tion tech­nol­ogy, biotech­nol­ogy and re­lated sec­tors had pro­vided di­rect em­ploy­ment to over a mil­lion peo­ple and in­di­rect em­ploy­ment to three mil­lion peo­ple in the city alone, he said.

The num­ber of en­gi­neer­ing and R&D cen­tres of MNCs in In­dia had in­creased from 943 in 2016 to 976 in 2017, he said cit­ing a study by con­sult­ing firm Zin­nov.

As much as 65 per cent of MNCs who have their global in-house cen­tres were from the USA and 37 per cent of such cen­tres of MNCs was in Ben­galuru, which proves that tech­nol­ogy en­gage­ment in the state was the strong foun­da­tion for in­vest­ments, Ku­maraswamy said.

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