With the objective to promote young technology entrepreneurs in the state, SAP Labs and Karnataka government plan to launch a start-up booster programme — ImpressIT. The programme, to be launched at the Bangalore IT.biz, Karnataka’s annual IT event, will give students from the state a chance to present their ideas and business viability. The ideas will be evaluated by 10 industry veterans, and top 50 ideas will get mentorships from corporates like Infosys, SAP, Microsoft among others, V R Ferose, MD of SAP Labs India, said here on Tuesday.
“We understand that new ideas originate from students and colleges. If the students get an opportunity, they can also innovate and create a Google or a Facebook out of India. Any college student in Karnataka can submit a proof-of-concept that is IT-related and which has a business objective,” said Ferose, who is also a member of the government’s IT vision group. According to him, the top 10 ideas will be given a 5-minute time slot for interactions with Venture Capitalists (VCs) at the IT.biz event, and which will help them secure funds for ideas. “We will make the process of submitting the proof of concept very easy. Students from across the state can submit their ideas online, and industry leaders will evaluate their ideas. Finally, 10 shortlisted ideas will be given opportunity to be presented at the event, Bangalore IT.biz. We will also invite VC firms and investors, and students will be able to pitch their ideas to them for securing funding,” he added.
The state has reached out to 194 engineering colleges in Karnataka to participate in the programme. It is also planning to make the state the hardware hub of India. To make this a reality, the state is planning to unveil its hardware policy soon. “The Cabinet’s clearance for the policy is expected soon,” Principal Secretary, Department of Commerce and Industries M N Vidyashankar, said. The government of Karnataka is also setting up a new hardware park spread over 300 acres. The plan is to invite Taiwanese companies to set up their units and collaborate with their Indian counterparts. Earlier on Monday, Karnataka Vision Group Chairman and Infosys co-chairman S Gopalakrishnan said that the 15th edition of the state’s premier IT event BangaloreIT.Biz 2012 will be held from October 17 to October 19.