WithKarnataka‘s tech ecosystem moving up the value chain, the plans to strengthen the state’s R&D capabilities by spending an additional Rs 2,000 crore annually on the segment. That’s part of the government’s new Research, Development and Innovation Policy announced at the 25th edition of theBengaluru Tech Summit(BTS) that began here on Wednesday. The objective of the spending is to ensure easy access to a skilled talent base, and support for university-based research and researching enterprises and grassroot innovators.
The government has mandated each department and ministry to earmark a budget for research-based activities.
The policy states that to get R&D to a national Average of 0.7% of GDP and 2-3% of state GDP in the next five years, “additional funding from state government agencies is proposed to go up by 0.1% of state GDP every year.” Given that the state GDP was Rs 20.5 lakh crore in 2021-22, 0.1% of that would be about Rs 2,000 crore.