Karnataka will soon become the first state to have a Start-up Council, which will ideate and produce a policy to ensure that the premier position held by Bengaluru in this sector is sustained. The plan that was still in the planning stage in August is expected to take off soon.
The department of commerce and industry is also reportedly preparing a prospectus. The start-up council will work on a policy to provide easy clearance to emerging businesses, besides having a dedicated set of officials to deal with the same.
The Times of India quoted an official saying, "The policy will also look into state investment for start-up infrastructure, incubation centres and similar facilities. Many details need to be worked out."
"One round of consultation with industry experts and start-ups was completed in early September. We have asked officials to prepare a prospectus after discussing with the industry, following which we can speak about how everything will shape up," said the additional chief secretary K Ratna Prabha.
Kiran Mazumdar-Shaw, chairman and managing director of Biocon Limited, who attended one of the meetings, and whose firm has helped several biotech start-ups, appreciated the move. She told TOI that it only goes on to show why Karnataka or any state needs to have a dedicated industries minister like RV Deshpande.
Several start-up heads and senior entrepreneurs were present in the meeting to discuss issues. Mazumdar-Shaw said, "The discussions touched upon everything from the kind of incentives they may get to the problems faced by some start-ups."
According to the newspaper, sources said the start-up heads said getting licences and certificates and the process of renewal were time-consuming and not industry-friendly.
TOI quoted Shaw saying, "Among things discussed was the fact that several start-ups operate from houses in residential areas, causing problems for residents. So it was proposed that once a start-up crosses 10 to 15 employees, it should move to a commercial area to prevent this.”