Priyank Kharge, the IT Minister of Karnataka, declared during the Moneycontrol Startup Conclave in Bengaluru on August 9th that those who have resigned from their professions and aspire to become entrepreneurs will be granted a monthly stipend of Rs 25,000 for a duration of one year.
This stipend aims to assist them in meeting their essential domestic costs.
As per authorities from the IT-BT department, RGEP is specifically tailored for young entrepreneurs who have a background in science or engineering. These entrepreneurs will receive coaching from K-tech innovation hubs and will also be provided with a stipend.
Kharge also emphasized the reasons behind entrepreneurs from other states choosing to register their enterprises in Karnataka. According to his account, Bengaluru transitioned from being a center for administrative tasks to becoming as a frontrunner in the field of research and development.
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According to him, Karnataka holds the first position in the Innovation Index and is the leading state in terms of service exports. In addition, Karnataka has formed the Global Innovation Alliance in collaboration with 32 nations. This initiative has provided dedicated pathways for companies that are registered with the Karnataka government, ensuring that they have access to international markets.
Priyank Kharge, said: “We are soon launching an entrepreneurship programme, perhaps the first of its kind in the country, where if someone has quit their job to become an entrepreneur, we will pay a stipend of Rs 25,000 per month for a year. It’s a small amount considering the high inflation, but at least we will ensure that domestic expenses are taken care of,”
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