Karnataka's Bold Leap into Deep Tech and AI

Karnataka is investing Rs 600 crore in Deep Tech and AI with plans to set up a joint venture fund of Rs 1,000 crore alongside venture capital firms. This initiative, part of the Future Makers Conclave, aims to position Karnataka as a leader in the global technology landscape.

Karnataka is making a significant investment of Rs 600 crore in Deep Tech and AI as part of a state-led initiative to spearhead technological advancements in these sectors. Collaborating with leading venture capital firms, the government plans to create a joint fund exceeding Rs 1,000 crore to support burgeoning startups.

The announcement was made by Karnataka IT Minister Priyank Kharge who outlined the state's strategy for the upcoming Future Makers Conclave, an event that aims to transform Karnataka's role in the technology sector. The event will bring together over 10,000 participants, including founders, entrepreneurs, and investors, and serve as a launchpad for deep technology's growth in the state.

The conclave highlights significant investment commitments from 16 venture capital funds, which will collectively allocate Rs 430 crore to Deep Tech and AI startups. This reflects investor confidence in Karnataka's tech pipeline as the state aims to establish itself as a global player in various cutting-edge technology domains.

(With inputs from agencies.)