Nov 21, 12:33 PM

Karnataka Unveils $3 Billion Space Tech Policy, Targets 50% National Output, 5% Global Market Share at Bengaluru Tech Summit

The Karnataka government has unveiled a new space technology policy aimed at attracting $3 billion in investments over the next five years, with a target of capturing 50% of the national output and 5% of the global market share. This initiative was highlighted during the Bengaluru Tech Summit, where Karnataka Minister Priyank Kharge emphasized the importance of tech-driven solutions for urban transport, showcasing a demo of Uber Shuttle. Additionally, the state plans to support 500 startups as part of its broader strategy to foster innovation in the space sector. The summit also featured discussions on startup awards and a hypergrowth program for enterprise SaaS and fintech companies. Notably, the National Company Law Tribunal (NCLT) has halted Byju's attempt to dilute its stake in Aakash Educational Services, reflecting ongoing challenges in the edtech sector.