Karnataka to come up with new innovation policy

Karnataka is working on a new policy on innovation and technology with a view to address the new age challenges in regulation for innovation, Additional Chief Secretary EV Ramana Reddy, said on Wednesday delivering the keynote address at the India Innovation Summit 2019 organised by CII in Bengaluru.

"We are considering innovative concepts such as regulatory sandboxes to ensure adequate legal framework for innovation is available. Our aim is to make the state a leading promoter for all emerging technologies by strengthening existing technology Centers of Excellence in areas such as Cyber Security, Data Analytics, IoT, Artificial Intelligence,” he said.

In order to emerge as a global power, India needs to work towards becoming an innovation economy. Karnataka is the leader in the country to achieve this objective and it is initiatives like the CII India Innovation Summit that will help understand and highlight issues critical to achieve this aim, he said. "Bengaluru has been widely cited as one of the fastest growing technology hubs and startup capitals in the world. Bengaluru is ranked 11th Best Global Startup Ecosystem, as per the Startup Blink Startup Eco-system Rankings Report 2019, moving up from rank 21 in the year 2017," he said.