Karnataka plans to develop SWIFT City (Startups, Workspaces, Innovation, Finance, and Technology) in Sarjapura, Bengaluru, to foster integrated industrial development in the State.
This will be Karnataka’s third major planned industrial hub after Electronic City and ITPL. The project involves reserving over 1,000 acres of land in the Sarjapura Industrial Area for this purpose.
“Despite the presence of thousands of companies in Bengaluru, many stakeholders have expressed dissatisfaction with the lack of well-planned workspaces. To address this, we will provide 150-ft-wide connecting roads in Sarjapura and ensure world-class facilities, including residential clusters and schools,” said Karnataka’s Large and Medium Industries Minister MB Patil.
Strategic location
Sarjapura has been identified for its strategic location, being close to National Highways 44 and 48, as well as its proximity to Bengaluru’s thriving IT hub. The envisioned city aims to become a start-up hotspot, featuring 8-10 Plug-and-Play infrastructure facilities, each spanning 20-25 acres.
SWIFT City will offer offices, residential spaces, and co-working environments to support start-ups, creating a structured industrial network that fosters collaboration. Small and medium-sized start-ups will benefit from spaces ranging from 5,000 to 20,000 sq ft, available through lease, sale, or investment-sharing models. The city is hoped to become a leading hub for innovation in AI, data analytics, and fintech, the minister emphasises.
Additionally, the government aims to transform Karnataka into a ‘Silicon State.’ Bengaluru is already recognised as the Silicon City, the objective is to extend this recognition across the entire State. To achieve this, plans are underway to develop five Mini KWIN Cities, including ones in Vijayapura and Hubballi-Dharwad, in collaboration with the IT/BT department. More details on these initiatives will be revealed at the Invest Karnataka conclave scheduled for February.
“Innovative concepts are essential to attract investors. If we don’t take proactive steps, neighbouring States could gain an edge in securing investment opportunities. Our government is committed to staying ahead by ensuring investment inflows, employment generation, and economic growth,” he added.
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Published on December 14, 2024
https://www.thehindubusinessline.com/news/national/karnataka-plans-swift-city-for-start-ups-in-sarjapur/article68985080.ece
