Chief Minister of Karnataka basavaraj bommai launched the ‘Karnataka Research Development and Innovation Policy’ on Wednesday, which is aimed at funding infrastructure and institutions.
The policy, which was released during the opening session of the Bengaluru Tech Summit, also aims to provide support for a strong and well-connected ecosystem, according to a government statement.
It claims easy access to a base of qualified talent, grassroots innovators, support for cutting-edge research based at universities and research companies for cooperation between industry and science and for innovative start-ups.
The policy focuses on strengthening the governance and financing of the research and innovation system, research and innovation policy, research and innovation to boost the regional ecosystem, research and development and innovation to support entrepreneurship and Micro, Small and Medium Enterprises (MIPYMES), the statement read. .
The creation of a ‘Karnataka State Research Foundation’ has been proposed to design and implement strategies to achieve the objectives outlined in the policy.
Allowing higher education institutions to embrace ‘open science and research, creating a special incentive scheme to encourage companies to set up R&D labs outside of Bangalore, and launching an innovation incubator program called ‘Karnataka Technology Innovation and Entrepreneurship (K-TIE) to strengthen the entrepreneurship ecosystem beyond Bangalore, are also the objectives of the policy.