GCCs to Propel the Nation in R&D And Innovations: Kharge In light of the fresh GCC policy unveiled by Karnataka's Chief Minister Siddaramaih, Kharge said that the state intends to attract as many as 500 new GCCs in the next 4-5 years with USD 50 billion dollars in investment.
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Priyank Kharge, Karnataka Minister for Information Technology and Biotechnology said that Global Capability Centres (GCCs) are poised to propel the country in terms of research and development (R&D) and innovations the releasing the 'Global Capability Centres Policy 2024-2029' at the Bengaluru Tech Summit.
Kris Gopalakrishnan, Chairman - Axilor Ventures Chairman - Vision Group on Information Technology & Electronics- Government of Karnataka, opined that the growth can be attributed to the contributions from the state of Karnataka, where supportive policies have helped it grow influential in technology sectors.
"We have the largest number of GCCs in the country and tried and tested policy frameworks make Karnataka number one," said Gopalakrishnan.
In light of the fresh GCC policy unveiled by Karnataka's Chief Minister Siddaramaih, Kharge said that the state intends to attract as many as 500 new GCCs in the next 4-5 years with USD 50 billion dollars in investment.
"We are also collaborating with different stakeholders to take inputs to improve the curriculum across our education centers to enhance the already existing talent pool," said Kharge.
Prashanth Prakash, Founding Partner at Accel India and Chairman of the Vision group on Startups—Government of Karnataka, said that the two areas that define the future are people and Artificial Intelligence.
Top industries such as the US are hiring AI agent employees and the rate is close to 5-10 per cent and Bengaluru has a lot of next-gen AI businesses with capable talent according to Prakash.
"This quarter has been the best with a 100 per cent growth in funding – YOY – with a USD 3.4 billion coming in, so funds are not a problem. There is no other country that supplies a diversified talent supply chain than India, particularly Karnataka," said Prakash. Priyank Kharge, added that the Karnataka government is actively locating land to develop bio foundries.
According to Kharge the ecosystem currently is IT-centric but 28 per cent of the startups already leverage deep-tech. "Government needs to push better framework with plug and play and tap into the local talent pool for multinational companies to come in," said Kharge adding that the state is also planning to facilitate 10000 startups beyond the Bengaluru area with cities such as Mangaluru showing scope for marine biotechnology.
Kharge also highlighted the Karnataka government's efforts to support startups with grants up to INR 50 lakhs each sanctioned for companies to stay in the market and "Reduce the failure rates" with access to mentorship and incubators, with a total of 950 startups funded till date.
