Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

State takes a cue from Singapore, plans tech board to promote IT

The board will be responsible for investment promotion, industry development and manpower development of the technology sector, and will work to strengthen the state’s reputation as a technology hub. The Karnataka government is also planning to ta...

ET Bureau|
Nov 19, 2019, 11.20 AM IST
0Comments
BCCL
yeddyurappa-BCCL
Yediyurappa also mentioned about the Karnataka Innovation Authority which he will head as chief minister, and will have the IT minister as vicechairman.
The state government is planning to set up a Karnataka Technology Development Board (KTDB) to drive investments to promote IT and knowledge economy on the lines of ‘Enterprise Singapore’.

The board will be responsible for investment promotion, industry development and manpower development of the technology sector, and will work to strengthen the state’s reputation as a technology hub, chief minister BS Yediyurappa said after inaugurating the Bengaluru Tech Summit here on Monday. “Innovation in science and technology has always been one of the major driving forces of the state’s economy. We, in Karnataka, have been moving towards becoming an innovation hub — a gradual shift from the services sector to product development,” he said.

Yediyurappa also mentioned about the Karnataka Innovation Authority which he will head as chief minister, and will have the IT minister as vicechairman. The authority will sanction setting up of regulatory sandboxes and have the powers to exempt or relax provisions of any law enacted by the state legislature in order to promote innovation. The move, senior officials said, will protect consumer-friendly technology businesses that are operating under hazy regulations.

The Karnataka government is also planning to take ideas from New Zealand, which has emerged as the number one country in the world for Ease of Doing Business. “We are collaborating with New Zealand High Commission for G2G know-how in various aspects of Ease of Doing Business. We are trying to bring in design thinking in our business process reforms and also actively engaging with users to understand their pain points,” chief secretary TM Vijay Bhaskar said.

Aarin Capital founder TV Mohandas Pai hailed the government’s plan to set up an exclusive board for technology as it did for industries. “We need an organisation that focuses on technology,” he said, pointing out that about a fourth of Karnataka’s GDP comes from the technology sector. “By having a dedicated board with a team of people, more global companies are likely to come to Bengaluru. The government is not geared up for marketing. It needs a separate team and regular followups,” he said.

Also Read

Facebook caught in crossfire of Singapore's 'fake news' law

No unconditional jobs under CECA, says Singapore's Minister

VC investors make a beeline to Singapore

Singapore, India air forces hold joint training exercise

Allcargo’s European arm buys logistics firms in HK, Singapore

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service