NEWS –  The Karnataka government kickstarted the annual Bengaluru Tech Summit on Tuesday with a slew of announcements, including India’s first dedicated policy for Global Capability Centres (GCC)

GLOBAL CAPABILITY CENTRES (GCC) POLICY

• First-of-its-kind in India: Dedicated policy for GCCs launched.
• Goals:
  • Establish 500 new GCCs, raising the total to 1,000 by 2029.
  • Create 3.5 lakh jobs and generate $50 billion in economic output.
• Dedicated GCC Parks:
  • Innovation districts to be set up in Bengaluru, Mysuru, and Belagavi.

SKILL DEVELOPMENT INITIATIVES UNDER NIPUNA KARNATAKA

• Target: Train 1 lakh candidates by 2025, with 70% placement.
• Budget: ₹300 crore (₹200 crore from CSR funds).
• Key Players:
  • Microsoft: Train 10,000 youth annually in deep tech.
  • Intel: Train 20,000 in AI programmes.
  • IBM: Train 50,000 in AI and cloud services.
  • Accenture & BFSI Consortium: Train 10,000 in cybersecurity and financial services.
• Eligibility:
  • Includes students, recent graduates, and employed individuals seeking skill upgrades.
• Skill Advisory Committee:
  • Oversees company selection and approves budgets.
  • Companies must employ at least 500 trainees in Karnataka for a year.

MANUFACTURING AND INNOVATION INITIATIVES

• Electronics Manufacturing Cluster (EMC): To be set up in Mysuru.
• Bengaluru Global Innovation District:
  • Part of the Knowledge, Wellbeing, and Innovation City (KWIN City) initiative.
• INNOVERSE Campus: Focused on housing and developing deep tech innovations.

INCENTIVES UNDER GCC POLICY

• Internship Support:
  • Reimbursement of up to 50% for stipends, targeting 1 lakh student internships.
• Electricity Duty Exemption:
  • Five-year exemption for GCCs in Beyond Bengaluru areas.
  • Transition from commercial to industrial power tariffs.
• Property Tax Reimbursement: Additional support for GCCs.
• Customised Incentives:
  • Tailor-made packages for mega projects.
  • Promotion of Nano GCCs:
    • Flexible operations with 5–50 employees.
    • No minimum employment or investment thresholds.

INFRASTRUCTURE ANNOUNCEMENTS

• Bengaluru Business Corridor:
  • Tunnel project and Peripheral Ring Road construction to start in 6 months to address traffic congestion.
• Collaboration with LetsVenture:
  • Enhance startup visibility and facilitate investor engagement.
  • Organise quarterly startup events in Karnataka’s hubs.

INTERNATIONAL COLLABORATION

• One-on-One Delegation Meetings:
  • Countries: Austria, France, Germany, UAE, Finland, Switzerland.
  • Focus: Technology, innovation, and entrepreneurship collaborations.

BENGALURU DATA REPORT & AI INITIATIVES

• Bengaluru Data Report: Launched at the event.
• Centre of Excellence on AI: Established in Bengaluru to foster AI-driven research and development.
  • Purpose: To be India’s premier accelerator for AI start-ups.
  • Partnership: Led by IIT Alumni Center Bangalore (IITACB) in collaboration with the Karnataka government.
  • Support Provided: Start-ups will gain access to capital, mentorship, industry partnerships, and technical resources.

BENGALURU TECH SUMMIT 2024 (BTS 2024) HIGHLIGHTS

• Multi-Stage Conference: Topics covered include:
  • IT & Deep Tech
  • Biotech & Health-tech
  • Start-up Ecosystem
  • Global Innovation Alliance
  • India-USA Tech Conclave
  • Electro-Semicon
• International Participation: Over 50 countries and high-level delegations from more than 15 countries.
• Exhibition: 700 exhibitors showcasing themed pavilions on various sectors like Biotech, Healthtech, Electro-Semicon, Spacetech, Telecom, and Greentech.