Karnataka Chief Minister Basavaraj Bommai released the ‘Karnataka Research Development and Innovation Policy’ on Wednesday which has the objective of financing the infrastructure and institutions.

The policy, which was released during the inaugural session of the Bengaluru Tech Summit, also aims to provide support for a robust and well-connected ecosystem, a government statement said.

It intends easy access to a skilled talent base, grassroots innovators, support for university-based cutting-edge research, and researching enterprises for cooperation between industry and science and for innovative startups.

The policy focuses on strengthening governance and financing of research and innovation system, research and innovation policy, research and innovation to drive the regional ecosystem, research and development and innovation to support entrepreneurship and Micro, Small and medium Enterprises (MSMEs), the statement said.

The creation of a ‘Karnataka State Research Foundation’ to devise and implement strategies to meet the objectives outlined in the policy has been proposed.

Enabling higher education institutions to adopt ‘open science and research, creating a special incentive scheme to encourage companies to set up R&D laboratories outside Bengaluru, and launching an innovation incubation programme called ‘Karnataka Technology Innovation and Entrepreneurship (K-TIE) to strengthen the entrepreneurship ecosystem beyond Bengaluru, are also the objectives of the policy.