Karnataka Promises Rs 15 Cr Angel Fund And Incubation Centres
Bangalore: Karnataka’s recent state budget has many reasons to make people smile and cry. Though there have been a sharp increase in the prices of various commodities and products which were already expensive, there are still reasons for Bangalorean’s to smile. In its very latest budget the government of Karnataka has made a provision of Rs 15 crores to setup a new angel fund to invest in startups. This, by far has been one of the best announcements in the budget as it brings joy to hundreds of startups located in the capital of the state.
The Karnataka state government has taken this initiative to promote entrepreneurship among students. The budget has also proposed to set up incubation centres for the Information and Communication Technology sector by collaborating with various colleges and engineering institutions throughout the state.