‘Startup coast’ coming up in Karnataka
- State-of-the-art innovation centres, modern incubation set-up, tinkering labs and co-working space for startups are coming up in coastal Karnataka.
- This is the first project of its kind which is being part funded under Members of Parliament Local Area Development Scheme (MPLADS).
- Using her MPLADS fund, Commerce and Industry Minister Nirmala Sitharaman, who is a Rajya Sabha member from Karnataka, has initiated the project, which would provide a complete ecosystem for startups.
- The project, which was started to make Mangaluru as India’s first startup district, is now being expanded to Udupi and Karwar. It would now be known as “startup coast” and the complete ecosystem will be in place in the next two years.
- The ecosystem will comprise a 100-seater co-working space for budding entrepreneurs in Mangaluru, two innovation centres, about five incubation centres in colleges and around 30 tinkering labs in schools.
- Under the Atal Innovation Mission, Atal Tinkering Laboratories will be set up in different schools in this ‘startup coast’. Different schools have applied for this with the Niti Aayog.
- The innovation centres would be located at the National Institute of Technology in Surathkal and NMAM Institute of Technology under Nitte University.
- With Bengaluru gradually saturating for startups, Mangaluru is emerging as a centre for budding entrepreneurs in terms of infrastructure, funding facilities and talent pool.
- The co-working space, which would be leased to professionals, will be in place by December this year. Detailed project report is under preparation to set up the two innovation centres. Niti Aayog will help in setting up these centres.
Nearly 35,000 families to get LPG connections in Belagavi
- Under the Union government’s Ujjwala scheme, around 35,000 poor families in Belagavi district will get free cooking gas connections. This includes 15,000 families in Belagavi Lok Sabha constituency.
- Suresh Angadi, MP, announced this during the launch of the scheme to give away LPG gas cylinders and stoves to poor families in Belagavi on 9th July.
- Mr. Angadi said the scheme would help poor women in many ways. “It is said that a woman who works in a wood-fired kitchen consumes as much smoke as someone who smokes 400 cigarettes. Shifting to cooking gas will help them take care of their health,” he said.
- He announced that victims of fatal accidents in the kitchen were entitled to compensation of over Rs. 30 lakh, in case of cylinder explosions. Mr. Angadi also urged people not to get lazy because the government was giving away free rice.
- Rajya sabha member Prabhakar Kore said that around 35,000 families were getting connections in Belagavi district, that constitutes Belagavi and Chikkodi Lok Sabha constituencies this year.
- This includes 15,000 in Belagavi city alone.
- He remarked that owning a LPG connection was a matter of luxury till now and the poor could not dream of it.
Stand Up India: Rs. 21.62 cr. distributed to 98 people
- An amount of Rs. 21.62 crore had been distributed to over 98 people under the Stand Up India scheme in Mysuru district in the past year. Most of the beneficiaries have already commenced their units thanks to the financial aid from the banks.
- K.N. Shivalingaiah, Chief Manager, Lead Bank, State Bank of India, told that an amount of Rs. 20.09 crore had been given to 72 women entrepreneurs in the district while an amount of Rs. 1.30 crore had been given to five women minorities.
- One woman entrepreneur from the Other Backward Class category was given an amount of Rs. 23 lakh.
- Besides this, he said, that an amount of Rs. 4.55 crore was given to 17 SC entrepreneurs while Rs. 55 lakhs was given to three ST persons in the district in the last one year. He claimed that Mysuru stood second in the State in disbursement of loans under the scheme.
- Mr. Shivalingaiah said that the Stand Up India scheme aims at promoting entrepreneurship among women and Scheduled Castes and Scheduled Tribes. It will facilitate two entrepreneurial projects on an average of one for each category (Women and SC/ST) of entrepreneurs per bank branch.
Credit guarantee system
- A credit guarantee system would also be implemented through the National Credit Guarantee Trustee Company (NCGTC), which will act as the operating agency for financial aid, Mr. Shivalingaiah said, and added that the banks will personally guide each entrepreneur through the pre-loan and operational phases.
- Loan amounts ranging from from Rs. 10 lakh to Rs. 1 crore will be granted to beneficiaries which will be repayable up to seven years. The scheme will also familiarise entrepreneurs with factoring services, e-market places and registration with online platforms and other aspects of web entrepreneurship
- Stand Up India is among the various financial inclusion and social security schemes introduced by the government. The intent of the proposal is to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and women borrowers, the manager said.
- Mr. Shivalingaiah expressed confidence of providing loans to over 250 people in 2017-18.
- He said that there were teething problems this year as many banks were not completely aware of the scheme.
- He added that lands were allotted to many entrepreneurs by the KIADB and the District Industries Department had selected candidates under the Prime Minister’s Employment Generation Programme (PMEGP).
- Hence, more number of women and members of SC and ST communities may approach banks for loans under the scheme.
- Banks have been asked to sanction loans quickly after obtaining necessary documents from beneficiaries.
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Karnataka Current Affairs – KAS / KPSC Exams
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