Rs 25 crore seed capital to be granted for Mangaluru industrial cluster: Karnataka IT Minister
Mangaluru, Dec 17: The Karnataka government will release a seed capital of Rs 25 crore for setting up an industrial cluster in the city, state Minister for IT, BT and Higher Education Ashwath Narayan said on Saturday.
The government will also establish a two-lakh square feet 'Mangaluru Innovation Hub' through Karnataka State Electronics Development Corporation (KEONICS), aimed at encouraging industrial development of coastal districts, he said, addressing the Mangaluru Technovanza organised by the Mangaluru Cluster of Karnataka Digital Economy Mission (KDEM).
The minister said the innovation hub will be established in cooperation with Infosys and other companies, which will cater to the industrial development of Dakshina Kannada, Udupi, Uttara Kannada and Kodagu districts.
Narayan praised the coastal region, especially Dakshina Kannada and Udupi districts, for being the cradle of banking. The region has a suitable, conducive and enterprising environment and the government is keen to develop the Mangaluru region as a fintech hub, he said.
He said the government is keen on establishing at least 50 fintech companies in the Mangaluru cluster. This will give a big boost to the government's plan to achieve USD 500 billion business turnover by 2030 from these companies, Narayan said.
"Just as Bengaluru city has become famous as India's Silicon Valley due to the IT/BT companies, Mangaluru should become Silicon Beach," he said.
Memoranda of Understanding (MoUs) were signed with several companies and the minister inaugurated the Mangaluru office of payment gateway firm Cashfree.
State BJP president and local MP Nalin Kumar Kateel, MLA Vedavyasa Kamath, MLC Manjunath Bhandari were among those who attended the function.
IT/BT department additional chief secretary E V Ramana Reddy, industrialist Mohandas Pai, KDEM president B V Naidu, Start-Up Vision Group chairman Prashant Prakash and IT department director Dr Shivashankar were also present.
The minister later inaugurated the Mangalore University-affiliated college at Bannadka in Moodbidri in the presence of the varsity's vice chancellor Professor Subramanya Yadapadithaya.
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Cummins doubtful for T20 World Cup? It's quite grey right now, says Aus head coach
Melbourne (PTI): Australia skipper Pat Cummins' chances of playing at next year's T20 World Cup in India and Sri Lanka are "quite grey at the moment" as he battles a back stress issue that has affected his participation in the ongoing Ashes series against England.
Cummins returned to play the third Ashes Test in Adelaide after missing the opening two matches, picking up six wickets to help Australia clinch the series 3-0.
However, the Australian Test and ODI skipper will take no further part in the series and even his participation at the T20 World Cup is also uncertain. All-rounder Mitchell Marsh is Australia's T20I captain.
"Looking forward to the World Cup, whether he will be there or not, I can't really say. It's quite grey at the moment. We're hopeful," head coach Andrew McDonald was quoted as saying by 'ESPNCricinfo'.
The fast bowler was diagnosed with a lumbar stress reaction during Australia's tour of the West Indies in July. He underwent rehabilitation before being cleared for a carefully managed return in Adelaide.
"He's pulled up fine. He won't play any part in the rest of the series and that was a discussion that we had a long time out around his return," McDonald said.
"We were taking on some risk and people that reported on that would understand the risk associated with that rebuild. We've now won the series and that was the goal.
"So, to position him for further risk and jeopardise him long-term is not something that we want to do and Pat's really comfortable with that," he added.
The T20 World Cup is scheduled to begin on February 7 across India and Sri Lanka with the summit clash set for March 8.
Australia's first match is on February 11 against Ireland at Colombo. Although Cummins captains the Test and ODI teams, all-rounder Mitch Marsh leads Australia in the shortest format.
