At the Bengaluru Tech Summit, which kicked off on Tuesday, Information Technology/Biotechnology Minister Priyank Kharge announced that private venture capitalists (VCs) had agreed to partner with the Karnataka Government to fund startups in the state.
Addressing a news conference on the sidelines of the Summit, Kharge said the Government was partnering with private venture capitalists for its Deep Tech Decade initiative. Under the initiative, the Government plans to promote companies involved in deep tech–AI, quantum computing, robotics, and others–and has set aside Rs 663 crore for the next few years to fund startups working in the sector.
“We had requested VCs to match the government outlay for deep tech. Sixteen VC firms have agreed to fund 430 crore for 25 to 28 startups,” Kharge said, adding that the minimum funding for deep tech startups would be Rs 2 crore, while the maximum was Rs 45 crore.
The three-day Summit was inaugurated on Tuesday, with Chief Minister Siddaramaiah calling on global companies, startups, academicians, and investors to make Karnataka their home.
In his address, Siddaramaiah said, “Our message to the world is simple and sincere: the Government of Karnataka is here to support you. Whether you are a global company seeking to establish an R&D centre, a startup building your first prototype, an academician conducting frontier research, or an investor searching for transformative ideas, Karnataka is your home. We will provide the infrastructure, the skills, the policy environment, the talent pipeline, and above all, the confidence that your ambition will find every possible support here.”
Siddaramaiah said companies that came to Karnataka knew they were not merely investing in a place but were partnering with a state that understood technology, respected talent, and stood firmly for long-term progress.
“Karnataka offers everything businesses require, from research to markets, from infrastructure to talent. Innovation thrives where quality of life thrives. Karnataka is not simply participating in the global tech revolution. It is leading it,” he said.
Story continues below this ad
Noting that Karnataka was the first state in India to launch a roadmap for quantum technologies, the chief minister said that a defining feature of the state’s approach was inclusivity.
“Through the Beyond Bengaluru initiative, we are consciously decentralising our technology economy by developing tier 2 cities as the next-generation innovation clusters,” he said.