A seed fund of ₹25 crore has been established in partnership with the State government, banks and entrepreneurs of the region, to provide capital funding for eligible entrepreneurs launching their startups in Mysuru.
This is part of Beyond Bengaluru initiative and a release said that the industry in the Mysuru cluster has grown exponentially in the last two years, and is emerging as the tech hub of the country. ‘’Behind this, Karnataka Digital Economy Mission as well as Nasscom, IESA, Assocham, CII, TIE Mysore have played a role’’ the release added.
It said that reputed companies like IBM, Travancore Analytica, Nagaro, HHS, Proxelera, Forefront Healthcare, Glotouch Auto-Asam, etc. have been operating in Mysuru for the last 18 months, and Hinduja Global Solutions has set up a new center in Mysuru as part of its global expansion and plans to employ 400 people in the first phase.
The role of talented workers is very important in boosting the strength of sectors that include both service and manufacturing. It is only because of the availability of such talent that the Mysuru cluster is able to achieve this level of growth, the release added.
Mysuru as a startup hub
The Mysuru cluster has a favourable startup ecosystem that promises to generate even more investment opportunities and employment opportunities. In the Beyond Bangalore Start-up Grid, 120 start-ups have been accommodated in the Mysuru cluster alone, of which 15% are women-led start-ups, the release said.
Ekroop Caur, Secretary, Department of IT-BT, Science and Technology, Sanjeev Gupta, CEO of KDEM, Sudhanva Dhananjaya of KDEM Mysuru Cluster, Bhaskar Verma, Regional Head of NASSCOM and industry leaders participated in the event.
Mr. Sanjeev Gupta, CEO, KDEM said the concept of Beyond Bengaluru has been realised. ‘’We have facilitated more than 45 companies to set up their operations in these clusters in the last 18 months and we are confident of attracting more capital to the cluster in the coming days”.
