Karnataka has decided to set up an exclusive body to boost innovation ecosystem and also to take the knowledge industry to the next level of growth.
Chief Minister B.S. Yediyurappa on Thursday said, to support latest technologies, his government would set up Karnataka Innovation Authority under his chairmanship and one of his deputies, C.N. Ashwath Narayan, would be the co-chairman of the proposed entity.
He was speaking at an industry interactive session here. “Karnataka is on a mission to promote faster and inclusive growth. We recognise the prominence of IT to achieve this goal and we will also announce a revised IT policy in the coming days. The policy will focus on attracting investments and generating employment in tier-2 and tier-3 cities,” Mr. Yediyurappa said.
The State would also set up a vision group for start-ups, in partnership with the industry and the academia, to further strengthen the start-up ecosystem in the State, he said.
Dr. Narayan said Karnataka was recognised as a global leader in innovation, technology, and R&D, with Bengaluru being the fourth largest tech cluster in the world and one of the top global innovation hubs, along the lines of New York, Tokyo, London, Beijing, and Tel Aviv.
“To further enhance our position as a global innovator, our government will establish a legal framework for innovation with an aim to encourage new and emerging technologies in the State. We are working on a draft Bill which proposes to establish a mechanism for the creation of regulatory sandboxes in Karnataka, which will broadly describe a set of conditions under which innovative technologies can be tested in a controlled testing environment, by relaxing regulatory requirements,” said Dr. Narayan.
The government was committed to adopting a multifaceted strategy to ensure that Karnataka remained a global leader in innovation. Going forward, the key focus would be on skilling start-up incubation, developing global alliances, concentrating on tier-2 cities, and providing a legal framework for supporting innovation, he added.