Karnataka approves Rs 75 cr 'Beyond Bengaluru Cluster Seed Fund' to boost startups

Bengaluru, Feb 20 (PTI) The Karnataka cabinet on Thursday approved establishment of Rs 75 crore 'Beyond Bengaluru Cluster Seed Fund', which aims to support growth-stage startups outside Bengaluru.

The fund is dedicated to the emerging clusters such as Mysuru, Hubballi and Mangaluru, which will enable scaling up of the startups there, Law and Parliamentary Affairs Minister told reporters after the cabinet meeting.

"All these startup activities are more in Bengaluru, to take the focus from here to beyond Bengaluru -- to Mysuru, Hubballi and Mangaluru, we are setting up a seed money of Rs 75 crore, this will help other than Bengaluru to grow," he said.

The government also gave its nod for setting up a centre of excellence in the area of CNC Machining Technology by Karnataka German Technical Training Institute (KGTTI) at Kalaburagi at an estimated cost of Rs 16 crore, in association with a private company selected through tender.

Karnataka Industrial Policy 2025-30 and Karnataka Clean Mobility Policy 2025-30 that were announced during last week's Global Investors Meet -- 'Invest Karnataka', were ratified by the cabinet.

Minister Patil said International Institute of Information Technology (IIIT), Bangalore's infrastructure expansion plan at an estimated cost of Rs 817 crore was also given administrative approval by the cabinet today. Rs 285 crore will be given by the state government stage by stage.

He further said administrative approval was accorded to establish Semiconductor Future Accelerator Lab (SFAL 2.0) at an estimated cost of Rs 79.80 crore. "Rs 50 crore will be borne by the state government in five years... remaining will be borne by the Centre."

The proposal to set up Vijayapura sub-regional science centre and planetarium at an outlay of Rs 12.89 crore, was also okayed, the Minister added.

Besides, a decision was taken to construct 63 Dr B R Ambedkar hostels at an estimated cost of Rs 441 crore.

Approvals were also given for bills amending Karnataka Prohibition of Charging Exorbitant Interest Act, Karnataka Pawn Brokers Act, and Karnataka Money Lenders Act, aimed at further strengthening it, by increasing the period of imprisonment and fine amount.

The Minister said to take up works for the development of Hazrat Faqeeh Shah Wali -- Amma Jaan Bawa Jaan Dargah at Chintamani taluk in Chikkaballapura district and providing basic amenities there, the cabinet has approved a project estimated at Rs 31.99 crore.

The government also approved construction of 50-bedded mother and child hospitals at Athani in Belagavi district and Mudhol in Bagalkote district at an estimated cost of Rs 37.98 crore; and to purchase 5,000 GNSS Rover (Receiver + controller) at an estimated cost of Rs 175 crore, aimed at providing modern survey equipment for land survey.

(This story has not been edited by THE WEEK and is auto-generated from PTI)