‘Karnataka needs world-class infra to grow in R&D sector’
Ron Somers highlighted various factors that make Karnataka the most important state for India in terms of R&D.
Karantaka, which has made its name as the Silicon Valley of India, will be leader in the field of research and development (R&D) if the state government develops world-class infrastructure and has a favourable industrial policy environment in place, said Ron Somers, president, US-India Business Council on Monday. He highlighted various factors that make Karnataka the most important state for India in terms of R&D.
“There has to be an ecosystem that companies need to spark innovation. Young entrepreneurs need to look at successful companies to draw inspiration,” said Somers, adding that Karnataka has a large number of successful entrepreneurs to look up to.
He said that Karnataka needs to develop a world-class infrastructure facility.
“With Karnataka’s youthful demographic, its dizzying array of fine educational institutions, R&D taking place virtually in every industry, and a perfect climate, the only elements requiring further attention are the need to develop world-class infrastructure and putting in place a welcoming policy environment. With these aspects in place, attracting risk capital into this essential sector will follow.”
He echoed Kiran Mazumdar-Shaw's views on having a secondary stock exchange on the lines of Nasdaq to help newer companies to cater to their financial needs.