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Another Startup Warehouse opens in Bengaluru


Another Startup Warehouse opens in Bengaluru

Another Startup Warehouse opens in Bengaluru

Bengaluru, India | Red Newswire | Dec 16, 2015 Last Updated at 10:13 PM IST.

A second startup warehouse has been opened in tech-savvy Bengaluru by Karnataka government along with Nasscom to accommodate 400 startups that are into product and app development.

 CM Siddaramaiah said, “Success of the first warehouse with 64 startups encouraged us to set up a second warehouse in 36,000 square feet space to house about 400 startups in partnership with Nasscom,”

 16 of the early 64 startups raised Rs. 600 crore together and a hundred of techies have been employed.

 The facility was unveiled by CM Siddaramaiah at the diamond district on old airport road. He said, “The new startups will innovate in electronics for education, healthcare and energy sectors, offering smart solutions for remote and rural areas.”

Another Startup Warehouse opens in Bengaluru

 A startup policy has also been unveiled by the state government for 2015-2020 that aims at stimulating the growth of 20,000 startups and generating 18 lakhs jobs. Sectors covered by the policy include manufacturing, bio-technology and information technology. The policy will be reviewed by the startup council along with CM.

 Siddaramaiah said, “The startup policy aims at encouraging entrepreneurship, setting up of incubation centres, fostering partnerships between R&D and industry and providing early-stage funding to start-ups by setting up a startup fund.”

 He further added, “We are soon setting up a startup cell to facilitate hand-holding of new ventures, floated by rookies with limited knowledge of corporate affairs and function as a one-stop-shop to assist the needy.”

Another Startup Warehouse opens in Bengaluru

 Bengaluru is th only Indian city to be counted among world’s top 20 startup ecosystems according to the Global Startup Ecosystem Ranking Report-2015.

Siddaramaiah said, “Our government will ensure that Bengaluru maintains leadership position and strive to develop other important cities as startup destinations on par with top 30 international startup hubs.” Bengaluru has emerged as a hub for startups by offering space at low rates.

He said, “Startups are a natural result of an eco-system present in Bengaluru, which has the distinction of having the largest IT cluster with 300 of Fortune 500 firms choosing the city for their R&D and off-shore development operations.”

 Pointing at the huge mobile and internet users base in India, he said, “I am confident that the initiative of our government and Nasscom in setting-up the second warehouse will foster a vibrant eco-system, giving birth to thousands of startups.”

 Along with CM Siddaramaiah, K.J. George (Bengaluru development minister), V. Manjula (state IT-BT principal secretary), R. Chandrashekhar (Nasscom president), Ravi Gururaj (Nasscom product council chairman) and many other startup founders were present at the event.

Source: Deccan Herald

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