The initial years of a startup are the most crucial ones. From figuring out its way in the market, to finding the connection with their users/customers, there is a lot to take care in a very limited amount of time. In order to provide a helping hand to all these early-stage startups in Karnataka, the state government recently announced a unique Booster Kit for Startups that will help in nurturing the startups in the state with funding and hand-holding till they are able to find a hold in their respective markets.

State IT & BT Minister Priyanka Kharge revealed that the booster kit will be providing startups with access to mentors, legal and consulting accountants, cloud credits, software tools, along with an easy access to government funding and all the government backed incubators.

The new minister announced a funding amount of Rs. 400 crore to be used over the next 4 years as an equity or grant for startups, micro and small BT and IT firms. He also announced that the Karnataka Biotechnology and IT Services (KBITS) will be an active participant in helping them with all the promotion and marketing related stuff.

According to Kharge, KIBITS will be helping startup entrepreneurs by sponsoring their participation in maximum networking events at both national and international levels, administer tax incentive and also assist them in the entire patent filing process.

In order to keep a tab on the progress, state IT & BT Minister Priyanka Kharge has planned to hold an open house event every month for startups so as to have a direct interaction with department officials and address all the issues related to their operations.

The first open house has been set for August 16, Tuesday, at the state-run 10,000 startups warehouse.

Bengaluru has climbed the startup chart like no other Indian city. In fact, it is currently the second fastest-growing startup ecosystem in the whole wide world and was also recently ranked among the 15 startup ecosystems the world over. Interestingly, Benagluru was the only Indian city listed on the list.

The state government is trying its best to keep up with the state's glorious performance on the startup front and keep the momentum rolling. Therefore, it has even set up a special cell in KBITS so as to implement all the policy initiatives and provide incubating startups with all the incentives. A Startup portal to educate prospective entrepreneurs on all the policies and benefits being offered under the booster kit is also in the pipeline and will be launched soon.

The Karnataka state government, in partnership with the IT industry's representative body Nasscom has built a good 725 seats in order to provide support to incubators in the warehouse. Out of these 725 seats, 325 are being made available for setting up startups at subsidized rates.

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