The Karnataka government has introduced the Innoverse Foundation to provide mentorship and global scaling support for revenue-generating deep-tech startups. This initiative coincides with the 29th Bengaluru Tech Summit scheduled for November 2026, which aims to strengthen the state’s semiconductor and AI ecosystem through international partnerships.
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The Karnataka government has officially unveiled the Innoverse Foundation, a new entity aimed at supporting the growth of deep-tech startups. Announced during a CEO Breakfast Meet, the foundation will focus on providing mentorship and business guidance to startups that have already begun generating revenue, with the specific goal of helping these firms expand their operations into global markets.
Scaling Support and Startup Grants
The launch of the Innoverse Foundation is accompanied by the DeepTech Enabler Program, for which applications are now being accepted. This initiative is part of the state's broader effort to nurture its technology sector, which also includes the recent selection of 33 winners for the Elevate NxT 2026 program. These startups were selected from a pool of nearly 1,000 applicants and are set to receive government grants ranging from ₹85 lakh to ₹1 crore each. These funds are intended to support research, product development, and innovation, with a focus on startups based in Karnataka as well as other Indian states.
Semiconductor and AI Focus
These initiatives serve as a precursor to the 29th Bengaluru Tech Summit (BTS), which is set to take place from November 17 to 19, 2026. With the theme 'AI & Beyond,' the government plans to emphasize artificial intelligence, electronics, and semiconductor development. A major highlight of this year's summit will be the inclusion of 'embedded world India,' a specialized exhibition organized alongside NuernbergMesse India. This move is designed to integrate international electronics firms more closely with the local semiconductor supply chain, addressing the growing demand for local electronic manufacturing capabilities.
State Infrastructure and Long-term Vision
The Karnataka government, led by Minister for Electronics, IT & Biotechnology Priyank Kharge, has outlined several long-term infrastructure projects to maintain the state's competitive edge in the technology sector. These include plans for a dedicated AI University, a Museum of Innovation, and the implementation of a regulatory sandbox. These projects are intended to create a stable environment for technological research and help businesses navigate regulatory challenges as they develop new products.
For investors and industry observers, the primary monitorables remain the effectiveness of the Innoverse Foundation in translating mentorship into successful international scaling for its startups. Additionally, the success of the upcoming Bengaluru Tech Summit in securing tangible investment commitments for the semiconductor and deep-tech sectors will be a key indicator of the state's continued ability to attract global technology companies.