Monday, September 14, 2015

Karnataka State first in country to have startup council:

Bengaluru: Karnataka is likely to
become the first state to have a
dedicated startup council after possible
hopes of the capital city's initial success
with startups that created a favourable
Plans for the same were drawn in
August and is now taking shape while
the Department of Commerce and
Industry prepares a concept note. If all
works well, the startup council will work
on a policy that provides easy clearance
for emerging businesses with dedicated
officials dealing with it.
An official said that they would look into
state investment for startup
infrastructure and incubation while other
details were yet to be worked out and
added that Industry experts were
An industry expert said that the initiative
was good and it required a dedicated
industries ministry.
The meet with startup heads and senior
entrepreneurs discussed incentives and
problems faced by some startups.
The startup heads noted that the issue
of licences and certificates and the
process of renewal was time-
consuming and was not industry-
friendly. They even discussed that
startups operating from houses would
cause problems for residents. It was
then decided that the problem could be
avoided by shifting to a commercial
area after the number of employees
crosses 15.