The Division of Info Know-how Biotechnology and Science and Know-how, Karnataka and business physique Nationwide Affiliation for Software program and Service Corporations (Nasscom) on Tuesday launched the Karnataka State coverage for Engineering, Analysis and Growth (ER&D), authorised by the State cupboard.
The coverage goals to foster innovation and enhance multinational ER&D presence within the State by offering subsidies to international organisations seeking to set up new R&D amenities or broaden present ones.
Underneath the coverage, the Karnataka authorities will present sure subsidies to MNC’s Indian entities organising or increasing their international functionality centre (GCC) in engineering R&D past Bengaluru city district. These embody reimbursement of as much as 50 per cent lease, as much as Rs 2 crore or Rs 1,666 per worker per 30 days, recruitment help of Rs 20 lakh, funding subsidy equal to twenty per cent of funding as much as Rs 2 crore.
It can additionally think about additional subsidy on a case to case foundation if an R&D centre offers greater than 3,000 jobs or funding of Rs 250 crore or extra.
The coverage additional goals to foster innovation and R&D ecosystem