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Karnataka to strengthen innovation in biotech by fostering entrepreneurship & attracting investments
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Nandita Vijayasimha, Bengaluru
November 30 , 2023
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Karnataka is gearing up to strengthen innovation in biotech by fostering entrepreneurship and attracting investments. The state has worked to provide the right set of policies and robust infrastructure across industries and sectors.
We continuously work with industry, academia and different state government stakeholders to ideate and discuss new initiatives and focus areas that can be considered in Karnataka, said Karnataka’s large and medium industries minister M B Patil at the ongoing three-day Bengaluru Tech Summit being held between November 29 and December 1.
Our state, Karnataka, has long been synonymous with innovation and economic growth. Today, as we navigate the complex landscape of the tech industry, we stand on the precipice of unprecedented possibilities. The dynamism and resilience of our ecosystem have propelled Karnataka to remarkable heights, and I am confident that we are poised for even greater achievements, he added.
In the realm of large and medium industries, the state government focus remains on creating an environment that is conducive to growth, fostering entrepreneurship, and attracting investments. The policies we enact are not just about business; they are about creating a legacy—a legacy of progress, inclusivity, and sustainability, he said.
The theme of the conference 'Breaking Boundaries' captures the spirit of our times. In a world where challenges are always changing and solutions need creativity, breaking boundaries isn't just needed but a strong call for change. Our government, and this department, understands the need to go beyond old limits and make new ways in technology. As we move through the complicated world of IT, Deeptech, and Biotech, we need to explore new areas by opening up new and possibilities, said Patil.
To this end, Karnataka has been ranked as the ‘Top Achiever’ in the Ease of Doing Business by Department for Promotion of Industry and Internal Trade (DPIIT), announced in 2022. We often talk about the strength of Karnataka’s innovation and technology ecosystem. The companies present here today are key drivers of this ecosystem. Karnataka accounts for 30% of biotech exports and 40% of India’s IT exports.
In the year 2000, there were less than 22 Global Capability Centres (GCCs) in Karnataka. Currently, the state is home to 440+ GCCs. This means that the State has added approximately around 20 new GCCs every year from 2000 to 2022. The latest being the Massachusetts-based $16 billion analytical laboratory instrument and software company, Waters Corporation is investing $16 million or Rs. 133 crore to set up its global capability centre in Bengaluru's RMZ Ecoworld, he said.
In Bengaluru, the heart of Karnataka's innovation landscape, a vast reservoir of AI/ML professionals thrives. The state hosts 52 universities, providing a rich pool of talent for GCCs to tap into. To ensure that we continue to maintain our leadership position and sustain growth, the Karnataka government has taken several measures to enhance investor friendliness in the state.
Karnataka state has 10 clusters established under Micro Small Enterprise Cluster Development Programme. These are in addition to other product specific clusters available to a larger set of investors. These include the Bulk Drug Park along with the Aerospace & Defence Park, EV Park, Consumer Durable Goods Park. Further the state government has allotted dedicated industrial parks and knowledge parks not just in Bengaluru but beyond Bengaluru, in cities such as Mysuru, Mangaluru and Hubballi.
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