The programme is to back the first batch, consisting of about 10 companies, with proposed $50-million (Rs 270-crore ) fund.

Bangalore accounts for 41 percent of all new Startups launched in India, according to the World Startup Report, released last week by Bowei Gai, a Silicon Valley entrepreneur who is mapping the startup ecosystem in 29 countries.

In this promising scenario, the group of city’s entrepreneurs and investors, including Pai, are nudging an indifferent government into action.

Last year, The Karnataka Information and Communication Technology (ICT) Group 2020, had asked for Rs 1,000-crore fund to drive infrastructure development and 100 crore to be set apart for incubation of startups and new IT firms.

According to industry experts, since the city is home to some of the country's biggest software companies, it is a ripe pool of talent for startups.

The city houses about 70 percent of the top venture capital firms. Now funds such as Canaan Partners, SAIF and Lightspeed Venture Partners based in Delhi are setting up offices here.

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