Karnataka’s DeepTech Push Gains Momentum with ₹738 Crore in Funding Last Year: Priyank Kharge at IVCA Circles

Bengaluru : Karnataka’s evolving investment landscape took centre stage today, with Shri Priyank Kharge, Hon’ble Minister for Home Affairs, Information Technology, Biotechnology and E-Governance, Government of Karnataka, providing insights on emerging opportunities for the state during a fireside chat at IVCA Circles – Bangalore Edition. Titled “Karnataka’s Next Investment Chapter: Aligning Policy, Capital and Innovation”, the session was moderated by Imran Jafar, Managing Partner, Gaja Capital.

Organised by the Indian Venture and Alternate Capital Association (IVCA), the discussion was part of a day-long forum that brought together venture capital and private equity funds, family offices, founders, entrepreneurs, policymakers, and industry leaders to drive conversations and collaboration within the investment community. Against this backdrop, the fireside chat explored Karnataka’s role in strengthening India’s alternate capital landscape, with particular focus on how the government and investors can work together to bring more capital into the ecosystem and support innovation.

Sharing his perspective on Karnataka’s investment and policy priorities, Shri Kharge said, “Under Karnataka’s DeepTech Decade vision, we are steadily moving up the value chain, with skilling forming the foundation of our innovation ecosystem. Through the Nipuna Programme, we have identified close to 30,000 people for training and are looking to add another 20,000 by November 17–18.

He also highlighted the state’s efforts to strengthen deeptech funding and support early-stage innovation through government-backed initiatives.

“Close to ₹738 crore was funded towards deeptech last year, including private-sector participation. Government funding itself was close to ₹150 crore, with ₹75 crore channelled through Karnataka IT Ventures Limited. We also have another ₹80crore set aside for deeptech initiatives beyond Bengaluru. The state has close to 25 Centres of Excellence and offers equity-free grants of ₹1 crore to deeptech startups. Through a transparent evaluation process involving industry experts, corporates and venture capital investors, we have brought the average evaluation timeline to around 90–100 days.

We are also working to make the government an active participant in the innovation ecosystem and a first customer for startups. Through the Karnataka Innovation Authority and the Government First Programme, we are creating regulatory sandbox opportunities for innovations that do not yet have a specific policy framework, provided they are not illegal. We are also offering ₹25 lakh to startups developing solutions to government challenges, with the possibility of scaling successful solutions across the state.

Karnataka now has close to 54 countries participating as members of the Global Innovation Alliance. We take our startups to markets such as the US, South America, the European Union, Taiwan and South Korea, while also facilitating partnerships between universities and incubators”

The conversation also looked at IVCA’s ongoing engagement with the Government of Karnataka, including through the Vision Group, and the state’s positioning ahead of the Bengaluru Tech Summit 2026.

Held at Taj West End and with “The Next Wave of Indian Capital: Where Capital, Innovation and Opportunity Converge” as its theme, the Bangalore Edition of IVCA Circles featured discussions on emerging sources of capital, investment opportunities, and the developments shaping India’s investment ecosystem. The invite-only gathering brought together members of the investment and startup communities, policymakers, and ecosystem enablers, including representatives from bodies such as the Research, Development and Innovation Fund and the Small Industries Development Bank of India, among others.

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