Govt Policy

Karnataka, Finland sign MoU to set up innovation corridor

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MoU SignThe Department of Information Technology and Biotechnology, Government of Karnataka, has signed a Memorandum of Understanding (MoU) with the Embassy of Finland in Bengaluru to set up a Karnataka-Finland Innovation Corridor (KFIC).

According to an official communique, the KFIC will be a virtual platform to facilitate the exchange of information and expertise in the fields of science, research, innovation and skill development. The corridor aims to identify “mutual interests and organise joint projects, such as startup incubation programmes, research programmes, events, competitions and exposure visits.

Karnataka-based i-Samarth programme, initiated by Nokia, will act as an informal focal point for Internet of Things-related Indian and Finnish companies to collaborate in the fields of research, development and innovation. Further, to meet the growing demand for quality human capital in technology, Karnataka and Finland plan to organise suitable skill development programmes.

As per the MoU, a high-level steering committee, constituted to oversee the pace and progress of the corridor, will meet at least once in six months.

The Principal Secretary of the Department of IT & BT and the Counsellor (Economic & Commercial) from the Embassy of Finland in New Delhi will be the secretaries of the steering committee.

Priyank Kharge, Minister of IT, BT and Tourism, Government of Karnataka, said, “Our aim is to facilitate collaborations between startup incubators and accelerators from Karnataka and Finland.”

Ambassador of Finland Vaskunlahti said, “With this MoU, we wish to develop and intensify our mutually beneficial cooperation with Karnataka in the fields of innovation, science and research, and skill development.”

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