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C.N. Ashwath Narayan, Karnataka Minister for IT/BT, launched the 'Booster Kit' initiative on Friday which aims to support the growth of startups in the state.

As part of the initiative, the government inked nine MoUs at the Bengaluru Tech Summit 2022 with ecosystem partners, which included Google, Paytm, HDFC, RazorPay, Microsoft, The GAIN, Dayanand Sagar Entrepreneurship Research and Business incubation, AWS Activate and StrongHer Ventures.

On behalf of the government, the officials of the Department of IT/BT and Karnataka Innovation and Technology Society (KITS) signed the MoUs.

Speaking on the occasion, Narayan said that as per the initiative, startups which have registered with 'Karnataka Startup Cell' will get banking, fintech, and market expansion, sustainable business and transaction support.

The initiative also includes accelerator support, incubation support and guidance for women entrepreneurs besides providing cloud based services, he added.

The initiative would also facilitate office infrastructure, laboratories, and necessary funding.

The minister said that startups should play a crucial role in the economic growth of the state and increase their contribution for the digital economy.