Karnataka Signs Rs 2,600 Crore LOIs at Bengaluru Tech Summit 2025

By siliconindia  |  Wednesday, 19 November 2025, 07:25:17 PM IST

Karnataka Signs Rs 2,600 Crore LOIs at Bengaluru Tech Summit 2025
  • Rs 2,600 crore LOIs signed at Bengaluru Tech Summit 2025, creating 3,500 jobs across semiconductors, EVs, and biotech.
  • Skill development boost with 90 women trained in semiconductor-VLSI and embedded design through Marvell partnership.
  • LEAP programs launched to support startups in Deeptech and tier-2 cities with grants up to Rs 1 crore.
The Karnataka government announced signing letters of intent (LOIs) worth Rs 2,600 crore with leading companies, including Drone Federation of India, Global HDI, and Eyestem Research, which are expected to generate 3,500 direct and indirect jobs. The announcement was made by IT-BT Minister Priyank Kharge on the sidelines of the Bengaluru Tech Summit (BTS) 2025.
These investments span key sectors such as semiconductors, electric vehicle (EV) batteries, and biotechnology. In a significant move toward skill development, the government also signed MoUs to train 90 women in semiconductor-VLSI design and embedded skills in partnership with global semiconductor firm Marvell.
KEONICS Chairman Sharath Kumar Bache Gowda elaborated that the LOI with Drone Federation of India, which is investing Rs 25-100 crore, will establish a drone testing facility at Chintamani. This facility will also facilitate other companies under the LOIs to leverage its infrastructure.
Global HDI plans to set up a multi-layer printed circuit board (PCB) manufacturing plant with an investment of Rs 1,500 crore. Eyestem Research will establish a cell therapy and R&D manufacturing facility with an investment of Rs 130 crore.
These initiatives are part of the state’s Local Economy Accelerator Program (LEAP), which includes schemes such as Elevate Next (Deeptech) and Elevate Beyond Bengaluru. LEAP, a Rs 1,000 crore initiative, aims to strengthen emerging clusters outside Bengaluru by providing infrastructure, funding, and sector-specific support.
The government further announced the rollout of Deeptech Elevate from 1 January 2026, which will provide grant-in-aid support to accelerate cutting-edge Deeptech innovations.
Meanwhile, Elevate Beyond Bengaluru, launching on 1 February 2026, will focus on fostering entrepreneurial growth in tier-2 and tier-3 cities. Under these programs, around 40 startups under Deeptech Elevate will receive grants ranging from Rs 50 lakh to Rs 1 crore, while 50 startups under Elevate Beyond Bengaluru will be supported with grants of up to Rs 50 lakh.
Sharath Kumar Bache Gowda highlighted that these initiatives mark a significant push to create an inclusive and innovation-driven ecosystem across Karnataka.

ON THE DECK

Top Banner

Related Articles