Karnataka to Fund Top 50 AI Companies in India

Bengaluru, Oct 10 (PTI) Karnataka Information Technology Minister Priyank Kharge on Friday said the state will launch a Rs 100 crore fund to identify India's top 50 AI companies.

Speaking at the Confederation of Indian Industry's two-day CII INNOVERGE 2025 event here held under the theme “Make in India, Developed India & Digital India,” the minister highlighted Karnataka's leadership as a global innovation powerhouse.

"At the upcoming Bengaluru Tech Summit, we will unveil the Future Makers track to showcase 20,000 startups and launch a Rs 100 crore fund to identify India's top 50 AI companies. Karnataka today is not competing with other states; we are competing with ourselves to create global solutions through innovation, skills and political will," he said.

The minister noted that Karnataka has evolved into one of the most disruptive innovation hubs in the world, powering breakthroughs from agritech to aerospace.

"We are not just an investment destination but the global knowledge and skill capital. With 40 per cent of India's R&D talent, 30 per cent of all Global Capability Centres, and 48 of the country's 110 unicorns, Karnataka drives the nation's digital economy. Our ecosystem leads globally in AI skill penetration and R&D output, ranking among the top five AI cities worldwide," he said.

According to Kharge, whats sets Karnataka apart is its 3P model of People, Policy and Participation, which ensures every stakeholder, from academia to entrepreneurs, has a voice in shaping growth.

"We are investing Rs 1,000 crore to build innovation clusters across Mangaluru, Mysuru, Hubballi-Dharwad and Belagavi, ensuring that the benefits of growth reach every region," he added.

At the event, Kris Gopalakrishnan, Chairman of Axilor Ventures & Co-Founder, Infosys Ltd, stressed that India's innovation journey will accelerate when research, academia, and industry converge into a cohesive ecosystem.

"We must invest deeply in R&D, foster Centres of Excellence collaborating with industry, and create clusters where ideas move seamlessly from lab to market. Our next phase of growth should be measured not only by economic metrics but by innovation outcomes — tracking creativity and commercial impact as rigorously as financial performance," the said.

He added that with India's demographic strength, digital readiness, and entrepreneurial energy, "we have the potential to emerge as a global innovation leader, provided innovation becomes a measurable, mainstream priority."

The CII INNOVERGE 2025 set the tone for an engaging dialogue on how India can harness AI, technology, and strategic partnerships to realize its vision of Viksit Bharat@100 through innovation-led growth, according to official statement.