With the rise of Bangalore’s startup industry, the Department of Commerce is now launching a startup council to work on a policy to provide easy clearance to emerging businesses.
The policy will also look after state investment for startup infrastructure and incubation centres. The council has also set aside a dedicated set of officials to cater to the startup ecosystem in Karnataka.
Industry experts and prominent personalities were invited for a round of consultation, earlier this month. “We have asked officials to prepare a concept note in consultation with the industry, following which we can speak about how everything will shape up,” said Additional Chief Secretary K Ratna Prabha while talking to Economic Times.
Speaking about the policy, Kiran Mazumdar-Shaw, Chairman and Managing Director of Biocon said that the initiative shall help create a separate and dedicated ministry to govern startups.
“Among things discussed was the fact that several startups operate from houses in residential areas, causing problems for residents. So it was proposed that once a startup crosses 10 to 15 employees, it should move to a commercial area to prevent this,” Shaw said.