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News >> Technology >>
Karnataka plans 
10 Crore-fund for semiconductor industry
By siliconindia
|
Wednesday, 03 February 2010, 18:03 IST
Bangalore: In an attempt to foster innovation and research in areas like chip design, product development and telecom, the Karnataka government plans to set up a 
10 crore-fund called Karnataka Fund for Semiconductor Excellence. "More than 30 percent of the $400 billion market size projected for the Indian electronics market by 2020 would be tapped from Karnataka," said the Chief Minister B.S. Yeddyurappa.
Karnataka also plans to provide an additional 25 crore to the Karnataka IT Venture Fund, for raising funds from the market to assist start-up semiconductor units engaged in design and embedded software. The Chief Minister announced these initiatives while unveiling the State's Semiconductor Policy at the India Semiconductor Association's two-day Vision Summit.
The government would also provide financial assistance to firms for filing intellectual property rights in accordance with the incentives provided in the Karnataka Industrial Policy 2009-14. The government will provide assistance of 50 percent of the total cost towards the purchase of equipment for augmenting the Orchid Tech Space in STPI to a Characterisation Lab, which will be a one-stop solution for hi-tech facilities to spur the growth of research and development in future technology without financial burden to entrepreneurs.
To encourage setting up of ATMP (Assembly-Test-Mark-Pack) units in Karnataka, the government would provide incentives to units set up in the state by lowering the threshold investment for ATMPs or eco-system units with investment above 400 crore and up to 1,000 crore.
10 crore-fund called Karnataka Fund for Semiconductor Excellence. "More than 30 percent of the $400 billion market size projected for the Indian electronics market by 2020 would be tapped from Karnataka," said the Chief Minister B.S. Yeddyurappa.
Karnataka also plans to provide an additional 25 crore to the Karnataka IT Venture Fund, for raising funds from the market to assist start-up semiconductor units engaged in design and embedded software. The Chief Minister announced these initiatives while unveiling the State's Semiconductor Policy at the India Semiconductor Association's two-day Vision Summit.
The government would also provide financial assistance to firms for filing intellectual property rights in accordance with the incentives provided in the Karnataka Industrial Policy 2009-14. The government will provide assistance of 50 percent of the total cost towards the purchase of equipment for augmenting the Orchid Tech Space in STPI to a Characterisation Lab, which will be a one-stop solution for hi-tech facilities to spur the growth of research and development in future technology without financial burden to entrepreneurs.
To encourage setting up of ATMP (Assembly-Test-Mark-Pack) units in Karnataka, the government would provide incentives to units set up in the state by lowering the threshold investment for ATMPs or eco-system units with investment above 400 crore and up to 1,000 crore.