Karnataka is planning a SWIFT City for start-ups in Sarjapur
Karnataka is gearing up to set up a SWIFT City in Bengaluru's Sarjapur, focusing on start-ups, workspaces, innovation, finance, and technology. The move will strengthen the state's start-up ecosystem and will be Karnataka's third major industrial hub after Electronic City and ITPL. The project will cover more than 1,000 acres in the Sarjapur Industrial Area, according to Karnataka's Large and Medium Industries Minister MB Patil.
SWIFT City to foster innovation and collaboration
The land for the Startup Park in Bengaluru has been identified in Sarjapur. The Karnataka Industrial Areas Development Board (KIADB) has invited Requests for Proposals (RFP) for a consultant to prepare a Detailed Project Report (DPR) for the area spanning 647.69 acres. The DPR will include economic analysis, layout plan design, surveying, and cost estimates.
Strategic location and facilities
Sarjapur was selected for its strategic location near National Highways 44 and 48 and its proximity to Bengaluru's 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," said Patil. SWIFT City will offer state-of-the-art offices, residential spaces, and co-working environments for start-ups. It aims to create a structured industrial network fostering collaboration and innovation.
SWIFT City to lead in AI, data analytics, fintech
Small and medium-sized start-ups will get spaces between 5,000-20,000 sq ft through lease, sale, or investment-sharing models. "SWIFT City is expected to become a leading hub for innovation in AI, data analytics, and fintech," Patil said. The government wants to make Karnataka a "Silicon State," taking Bengaluru's fame as the Silicon City across the whole state.
Karnataka's proactive steps to attract investors
Patil stressed that "innovative concepts are essential to attract investors," cautioning that if they don't take steps, neighboring states could get an upper hand in attracting investments. The government is determined to ensure investment inflows, employment generation, and economic growth. It plans to develop five Mini KWIN Cities. These include Vijayapura, and Hubballi-Dharwad. More details of these initiatives will be unveiled at Invest Karnataka conclave in February.
