Karnataka Govt Allots 2.47 Billion for Biotech under State Budget 2018-19
The Siddaramaiah government has now allocated Rs 2.47 billion to information technology, biotechnology and science and technology departments in the state Budget for 2018-19. The rollout also includes Rs 10 million grant for scholarship to science and technology research students.
“An archive of patents will be created so as to facilitate storing, corroborating and exchange of patents.”
“This promotes innovation,” the Chief Minister said.
Siddaramaiah further said a ‘Legal Framework for Innovation’ would be established to bring new and emerging technologies under a legal framework until an appropriate law is enacted.
“This will enable introduction of such technologies in Karnataka,” he added.
The chief minister has also announced an incubation center at Kalburgi in association with the Deshpande Foundation for Rs 50 million, aiming to promote start-ups in the State. Siddaramaiah said the Karnataka Innovation Authority would be set up under his chairmanship to encourage innovations in different areas.
The government has further proposed to launch new programmes to encourage development of the manufacturing sector and protection of intellectual property rights, especially for mind development institutions, entrepreneurs and startups.
