Karnataka unveils ‘DeepTech Decade’, announces Rs 600-cr fund to boost startups

Bengaluru, Nov 3 (PTI) Karnataka Minister Priyank Kharge on Monday announced the launch of the 'DeepTech Decade' initiative, under which the state government will introduce a 'DeepTech Elevate Policy' with a funding outlay of Rs 600 crore to boost startups in emerging technologies.

"The next 10 years will be the 'DeepTech Decade'. We will leverage DeepTech with an investment of Rs 600 crore," said Kharge, who holds the Information Technology and Biotechnology portfolios, addressing a press conference here.

Announcing the 28th edition of the Bengaluru Tech Summit (BTS-2025), scheduled from November 18 to 20 at the Bangalore International Exhibition Centre (BIEC), Kharge said the state will also host the Future Makers Conclave (FMC)—a first-of-its-kind event and a key highlight of this year’s summit.

The FMC, to be held on November 20, will bring together over 10,000 founders, entrepreneurs, investors, mentors, and industry leaders, serving as a platform to showcase India’s most promising AI and DeepTech startups.

The event will feature show-and-tell sessions, keynote speeches by unicorn founders, investors, and industry captains.

"This initiative reflects our vision to create a robust DeepTech pipeline supporting entrepreneurs working on technologies such as AI, Machine learning, quantum computing, advanced manufacturing, robotics, and sustainability-driven innovation," Kharge said, adding that the move is aimed at positioning "Karnataka as the DeepTech Capital of India".

He also said the state government is in discussions with leading venture capital firms to create a joint fund of up to Rs 1,000 crore dedicated to DeepTech and AI startups.

"Our blueprint is ready, and we are serious about being global players in the technology landscape," he added.

Outlining the investment plan, Kharge said Rs 150 crore will go to the DeepTech Elevate Fund with a focus on AI and frontier technologies.

He said Rs 80 crore will be allocated under the Elevate Beyond Bengaluru Fund to support startups in Mysuru, Mangaluru, Hubballi-Dharwad, and Kalaburagi.

Additionally, Rs 75 crore will be provided through the KITVIN Fund for equity-based investments in DeepTech and AI startups, with funding ranging between Rs 50 lakh and Rs 2 crore.

Additionally, Rs 48 crore will be allocated for new incubators and accelerators in Dharwad and Kalaburagi, while Rs 110 crore will be earmarked for business incubators in higher education institutions to nurture early-stage innovation and entrepreneurship across 11 institutions already cleared by the Cabinet.

Kharge said the government will also explore fund-of-funds and co-investment models with the venture capital ecosystem to ensure sustained capital flow and scalability across the DeepTech value chain. PTI GMS SSK