Bengaluru: Out of 54,000 startups in India, 13,000 are in Karnataka which is set to play a big role in the nation’s economy in the future, Chief Minister Basavaraj Bommai said.

In his online message on the occasion of ‘National Startup Day’ on Jan. 16 Bommai said that the idea of New Karnataka for New India would be made a reality.

In coming days, the Government would provide a big boost for startups, innovation, scientific thinking and entrepreneurship, he said.

Because of PM Modi’s vision, the number of startups have crossed the 54,000 mark from a mere 500, Bommai said. “He has given a big push for innovation and startups by setting up a forum to help them and freeing them from the restrictions of the Government. The Prime Minister has been the inspiration for the highest growth of startups in the State,” he said.

Financial assistance is being provided through programmes like Elevate 100, Elevate Unnati for setting up startups by SC and ST communities, Bommai said.

Under the Amrit Startup programme, financial help is being provided for 75 startups by OBC and minority community members, and similarly 25 startups from women are being provided the assistance, he said.

About Rs. 120 crore has been granted for 482 startups in the State, Bommai said.

The Government is mulling to take startups to various districts of the State under its ‘Beyond Bengaluru’ project, he said.

A new Research and Development Policy would be unveiled to encourage setting up startups from a small garage to big scientific research and industrial units, Bommai said.

Karnataka will play a major role in realising PM Modi’s dream of making India a $5 trillion economy, he said.

Through startups, a New Karnataka would make a significant contribution for the economy of New India, he said and congratulated the Prime Minister for encouraging the youths to inculcate scientific thinking to face new challenges.