It is nice to see that the Government of
Karnataka is showing interest in lending helping hands to all the aspiring
entrepreneurs. Being the co-founder of an IT organization, I can
completely comprehend how monotonously tough it is to offer complete reality to
your dream idea. And in midst of all these efforts, if you get a support system
to rely on, you can obviously know better days are on its way.
Now, anyone with a constructive idea for entrepreneurship can
register with the Karnataka Startup Cell. Once the idea gets approved, they can
expect the government to fund them. In the mean time, they can start off their
idea from any location of their wish; be it home or some rent place. The best
thing is, the state government is ready to pay Rs. 50 lakhs for a potential
idea, lacking in revenue, to take shape of its own.
Specially owning to the number of startup
companies budding out in the IT hub of the southern state, in my option, the
government is seriously doing a tremendous task to convert the urban into a
world-class ecosystem. But the catch is, besides being a member of Karnataka
Startup Cell (KSUC), the startups should as well fall under the following
categories to take benefits of startup funding -
- 50% of the employees should be operating in Karnataka
- The startups revenue should be below 50 crores
- If the organization is a Biotechnology Industry then it has to be less than seven years old and if it is an IT industry, then it has to be less than four years of age
- Your startup should be a technology based one
By 2020, the Karnataka Government foresees to
assists the growth of 20,000 fresh businesses with the help of this startup
policy. What portion of assistance who gets is not that an imperative question,
but the thing is at least the government is willing to render its support - is
the main thing to feel appreciative off.
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