The Karnataka government is taking significant steps to bolster its startup ecosystem by introducing a preferential public procurement policy. This policy, aimed at supporting startups, is set to facilitate the purchase of their products and services by the government, fostering the growth of startups in the state.
Government as the First Customer: Under this new policy, the state government is positioned to become the inaugural customer, providing a crucial avenue for startups with unique intellectual property. The government’s active involvement in this initiative demonstrates its commitment to propelling the startup ecosystem in Karnataka.
Enabling Beyond Bengaluru Initiatives: The policy is designed to specifically benefit startups that have registered unique intellectual property through the state’s startup cell and are actively engaged in the ‘Beyond Bengaluru’ initiatives. These measures are part of the state’s broader strategy to expand the startup landscape beyond the capital city, Bengaluru.
Karnataka’s Flourishing Startup Ecosystem: Karnataka currently boasts a thriving startup ecosystem, with over 25,000 startups in the state. Impressively, 15,000 of these startups are already receiving government support. This policy is expected to further bolster the state’s position as a hub for innovation and entrepreneurship.
Driving Growth in Emerging Sectors: The announcement was made during the Big Tech Show organized by the Karnataka government in Mysuru. The city is actively positioning itself as an emerging global hub for sectors such as cybersecurity, semiconductors, and Electronics System Design and Manufacturing (ESDM).
Conclusion: The Karnataka government’s forthcoming preferential public procurement policy demonstrates a clear commitment to supporting startups and fostering innovation. By becoming the first customer, the government aims to create an environment where startups can thrive, contributing to the growth of the state’s startup ecosystem.
