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Karnataka to spur state startups in export markets

Tuesday - November 19, 2019 7:28 pm , Category : BUSINESS
Bengaluru, Nov 19 (IANS) The IT, BT (biotechnology) and S&T (science and technology) department of Karnataka launched the Global Innovation Alliances Market Access Program (GIAMAP) at the Bengaluru Tech Summit 2019 on Tuesday, to help startups enter new markets.
"Bengaluru, being the startup capital, would pave the way for international startups to access the Indian market," said additional chief secretary E.V. Ramana Reddy.
GIAMAP will help Karnataka-based startups establish global partnerships, increase global sales and expand export projects. Through GIAMAP, the Karnataka government has embarked on creating Global Innovation Alliances with hubs in the USA, the UK, Israel, France, Germany and others.
GIAMAP's inbound feature will offer a soft landing for foreign startups in Karnataka and outbound aspect will offer the same to local startups in foreign markets where GIAMAP has an agreement.
Under the agreement, the first batch of German startups from Berlin senate backed Startup Asia Berlin (SUAB) will explore the Indian market between November 13 and December 3.
Similarly, a group of Karnataka startups are expected to visit Berlin early 2020.
"We are happy to support this exchange between German and Indian startups. Finding solutions across borders will help both regions thrive," said Berlin senator for economics, energy and public enterprise Ramona Pop.

--IANS sth/pcj