The Karnataka Digital Economy Mission (KDEM), in its effort to boost the start-up ecosystem and collaborative innovation, on Saturday entered into a Memorandum of Understanding with Sri Jayachamarajendra College of Engineering-Science and Technology Entrepreneurs’ Park (SJCE-STEP) here. The MoU aims to build a robust start-up ecosystem while underlining the need for skill development, employment generation, and overall development in the State.
Proxelera, the city’s first chip design company which has established a VLSI Design Centre at SJCE-STEP, was inaugurated in the presence of Shivarathri Deshikendra Swami of Suttur Mutt, JSS Mahavidyapeeta Executive Secretary C.G. Betsurmath, B. Suresh, Director, JSS TED, JSS Mahavidyapeeta, and Ramachandra B., General Manager, Global Head, Autonomous Driving and Robotics, Wipro. On the occasion, the SJCE-STEP also unveiled new programmes for innovators, entrepreneurs and start-ups.
The MoU also aims to help KDEM and SJCE-STEP create a symbiosis of investment support, mentorship, start-up incubation, and rural entrepreneurship. KDEM will function as a knowledge bridge between the State Government and the industry and facilitates setting up of a Global Entrepreneurship Centre to accommodate over 100 start-ups.
B.V. Naidu, Chairman, KDEM, in his virtual address, said the KDEM has been firm in its commitment to harness the potential of the State’s digital economy to transform the lives of the people. “The MoU is a step in this direction and it will give us leverage in reinforcing talent building, stimulating entrepreneurship and innovation,” he added.
E.V. Ramana Reddy, Additional Chief Secretary-Department of Electronics, IT-BT and S and T, who also addressed virtually, said the KDEM and SJCE-STEP partnership will boost the innovation ecosystem in Mysuru. Global players such as Infosys, Wipro, IBM, L and T have played a vital role in nurturing the talent and providing global exposure to the local ecosystem. “We now look forward to Proxelera furthering the ecosystem in Mysuru and support the government’s initiatives. With the VLSI design expertise and IT projects in the digital and analog domain, Mysuru will learn a lot from the companies,” he felt.
Karnataka has been in the forefront of promoting the idea of innovation and a tech-focused ecosystem which can be promoted in smaller cities for facilitating their transformation into economic powerhouses, he opined.
Established in 1985, the SJCE-STEP has groomed entrepreneurs while promoting more than 300-plus enterprises. SJCE-STEP has impacted over 20,000 people, conducted more than 1,000 training programes, and incubated to establish 150-plus enterprises, a press release said.
Shiv Shankar, CEO, SJCE-STEP, said “With KDEM’s reach and our expertise, we are very hopeful of enabling an enriching platform to the ascending start-up environment.”
National Initiative for Developing and Harnessing Innovations-Promotion and Acceleration of Young and Aspiring Technology Entrepreneurs (NIDHI-PRAYAS); the Start-up India Seed Fund (SISFS); Seed support for resident incubates; NIDHI-Accelerator; and MSME-Grants are the programmes launched at the SJCE-STEP that assures funding to eligible start-ups.