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This trend of lower inflows into startups has accompanied an overall sharp decline in such funds into India, exacerbating the funding winter that continues to hurt homegrown companies, it said. In 2023, startups in Karnataka received a total funding of $3.4 billion as against $12.2 billion in 2022, according to data intelligence and private market research firm Traxcn Technologies.

Karnataka, which is home to more than 18,000 startups, has been witnessing a significant decline in funding. In 2023, tech startups in the state received only $3.4 billion funding, which is a 72% plunge from $12.2 billion it raised in 2022, and an 83% decline from $20.4 billion raised in 2021, reveals data from market intelligence firm Tracxn.

As per the current design, there will be eight floors for the hub. It will have a 5 lakh sq ft building that will come up on three acres of land on Technocity campus at Pallipuram. The building can accommodate around 1,000 startups, with construction costs totalling Rs 145 crore.

Union Education Minister Dharmendra Pradhan on Sunday launched an initiative of IITBhubaneswar s Research and Entrepreneurship Park, which is aimed at creating 100 startups with a valuation of Rs 100 crore each by 2036.

The 21st century has ushered in a plethora of technological marvels, reshaping our lives in profound ways. Technologies like self-driving cars, artificial intelligence, and more have not only enriched our daily experiences but also redefined societal norms.

“With the benefit of hindsight, 2021 was a crazy year, and you look back and see that there are many such cycles that have played out,” said Mukesh Bansal, cofounder of Myntra and Cultfit and also an angel investor. “For me, I find most joy in building outstanding products whether I put on a founder hat or an investor hat. Unfortunately, I can’t do a lot of it on my own now so I’m part nearing with great cofounders now.”

“With the benefit of hindsight, 2021 was a crazy year, and you look back and see that there are many such cycles that have played out,” said Mukesh Bansal, cofounder of Myntra and Cultfit and also an angel investor. “For me, I find most joy in building outstanding products whether I put on a founder hat or an investor hat. Unfortunately, I can’t do a lot of it on my own now so I’m part nearing with great cofounders now.”

“With the benefit of hindsight, 2021 was a crazy year, and you look back and see that there are many such cycles that have played out,” said Mukesh Bansal, cofounder of Myntra and Cultfit and also an angel investor. “For me, I find most joy in building outstanding products whether I put on a founder hat or an investor hat. Unfortunately, I can’t do a lot of it on my own now so I’m part nearing with great cofounders now.”

Minister for Micro, Small and Medium Enterprises T M Anbarasan launched the Smart Cards at an event here recently, and gave away 10 Smart Cards to startups on the occasion StartupTN has launched Smart Card and other new initiatives to meet the needs of aspiring entrepreneurs in the early stage of building their startup.

Union minister Dharmendra Pradhan on Sunday launched an initiative of IIT Bhubaneswar’s Research and Entrepreneurship Park, which aims at creating 100 startups with a valuation of Rs 100 crore each by 2036. The 100Cube startup initiative was unveiled by Pradhan here, who said innovation is in the DNA of Odia society.