Karnataka's Minister for IT/BT, Priyank Kharge, unveiled the 'Hypergrowth Global Karnataka' programme during London Tech Week, marking a significant step towards fostering late-stage scaling for startups. Making the announcement at an event in San Francisco, California, Minister Kharge emphasized the government's commitment to establishing Bengaluru as a premier destination for founders to initiate and expand their ventures, backed by favorable policies.
Dr. Ekroop Kaur, Secretary of the Department of Electronics Information Technology Biotechnology and Science and Technology, affirmed the government's dedication to this cause. The collaboration with the government of Karnataka to launch the Hypergrowth programme was lauded by JF Gauthier, Founder and CEO of Startup Genome. He highlighted Bengaluru's remarkable growth as a startup hub, boasting 13,000 startups and over 40 unicorns.
The Hypergrowth Global Karnataka initiative aims to support high-growth startups, recognizing their pivotal role in driving economic growth, fostering competitiveness, and generating sustainable employment opportunities. Notably, the programme addresses a critical gap in support for rapidly scaling scale-ups, a sector often overshadowed by the focus on early-stage startups.
The primary objective of the initiative is to propel leading tech companies based in Bengaluru-Karnataka towards successful global commercialization and expansion into international markets. This initiative gains significance in light of the recent spotlight on the Bengaluru-Karnataka startup ecosystem in the 2024 Global Startup Ecosystem Report (GSER). The report, a collaboration between Startup Genome and the Karnataka Digital Economy Mission, further underscores the region's potential as a thriving hub for innovation and entrepreneurship.
The launch of the 'Hypergrowth Global Karnataka' programme represents a strategic move by the Karnataka government to bolster the state's startup ecosystem, empowering high-growth startups to scale globally and cementing Bengaluru's position as a leading global tech hub.