Karnataka plans Rs.10 Crore-fund for semiconductor industry

Bangalore: In an attempt to foster innovation and research in areas like chip design, product development and telecom, the Karnataka government plans to set up a Rs. 10 crore-fund called Karnataka Fund for Semiconductor Excellence. “More than 30 percent of the $400 billion market size projected for the Indian electronics market by 2020 would be tapped from Karnataka,” said the Chief Minister B.S. Yeddyurappa.
Karnataka also plans to provide an additional Rs. 25 crore to the Karnataka IT Venture Fund, for raising funds from the market to assist start-up semiconductor units engaged in design and embedded software. The Chief Minister announced these initiatives while unveiling the State’s Semiconductor Policy at the India Semiconductor Association’s two-day Vision Summit.