Thu Feb 20 17:05:28 UTC 2025: ## Karnataka Launches ₹75 Crore Fund to Boost Startups Outside Bengaluru
**Bengaluru, February 20, 2025** – The Karnataka state government announced a ₹75 crore “Beyond Bengaluru Cluster Seed Fund” to foster startup growth in Mysuru, Hubballi, and Mangaluru. The initiative will allocate ₹20 crore in 2024-2025 and ₹55 crore in 2025-2026 to support entrepreneurs in these cities. This was revealed by Law and Parliamentary Affairs Minister H.K. Patil following a cabinet meeting.
The cabinet also approved the establishment of a Semiconductor Future Accelerator Lab 2.0, a joint state and central government project costing ₹79.8 crore (₹50 crore from the state). This lab, to be established under the Companies Act, will operate between 2025 and 2030.
Amendments to the Karnataka Pawn Brokers Act, Karnataka Prevention of Exorbitant Interest Act, and Money Lenders Act were approved, aligning penalties with the recently promulgated Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025.
Furthermore, the cabinet greenlit a ₹2,000 crore World Bank-funded water security and disaster resilience project for Bengaluru, with tenders to be floated for 16 works. Development projects totaling ₹20 crore were also approved for Mysuru exhibition grounds, as well as renovations for the Renuka Yellamma temple in Saundatti, Chamundeshwari temple in Mysuru, and Papanash temple in Bidar. Finally, a ministerial committee will review civic works estimates.
First Piper 