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Bengaluru: 4,000 startups received investments of $1 billion in the last 2 years

Karnataka Governor Vajubhai Vala said Bengaluru retains its lead as one of the startup capitals of the world.

By: PTI | Bengaluru |
February 6, 2017 5:00:45 pm
Lokayukta, karanataka Lokayukta, karanataka government, Vajubhai Vala, karnataka congress, P Vishwanath Shetty, P Vishwanath Shetty appointment, karnataka high court, new lokayukta appointment, indian express news, india news Karnataka Governor Vajubhai Vala (File Photo)

Karnataka continues to lead the country in the Information Technology and Bio Technology sectors, and over 4,000 startups have received investments of $1 billion over the past two years, Karnataka Governor Vajubhai Vala said on Monday. In his customary address to the joint sitting of the state legislature, reflecting government’s policies and priorities, he said public transport and scientific traffic management are essential to address the traffic problems faced by this IT city.

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“Karnataka continues to lead the country in the Information Technology and Bio Technology sectors, which are growing at a rate of 10 per cent to 12 per cent a year and creating new avenues for employment,” Vala said. “With the launching of a new startup policy, the state has retained its lead as one of the startup capitals of the world. Over 4,000 startups have received investments of over $1 billion over the past 2 years.”

The Governor, in his speech, also sought to address Bengaluru’s traffic issues by listing out the steps taken by the state government to mitigate it. Pointing out that the World Economic Forum recently rated Bengaluru as the world’s most dynamic city, he said, “public transport and scientific traffic management are essential to address (its) traffic problem. The Bengaluru Metro Rail Corporation is poised to complete 42.38 kilometres of phase 1 of Bengaluru Metro by April 2017.” He added that work under phase 2 is being executed at a fast pace. Vala also said that his government is pro-active to introduce suburban rail for the Bengaluru Metropolitan Area in collaboration with the Ministry of Railways for which a MoU has been signed.

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Noting that during the current and the next year, various roads and other infrastructure works worth Rs 7,300 crores will be taken up in Bengaluru, he said the Bengaluru Water Supply and Sewage Board will provide Cauvery water to 110 villages newly added to Bruhat Bengaluru Mahanagara Palike (the city civic body).

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First published on: 06-02-2017 at 05:00:45 pm
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