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There's a good likelihood that any international tech giant, from Amazon to Uber to Microsoft, has a headquarters in Bangalore.
Karnataka's city and surrounding state are home to more than 400 worldwide R&D facilities, making it the world's fourth biggest technology and innovation cluster.
The state government is working hard to build a flourishing startup and innovation environment by leveraging the state's technological prowess. Karnataka is already home to over 4,000 companies. Karnataka's government was the first in India to announce the creation of a special Startup Cell to promote the state as a startup hotspot.
It also provides financial support to startups through its Innovate Karnataka initiative, which includes the semiconductor venture fund, the bio venture fund, and the AVGC venture fund, which focuses on companies in the animation, visual effects, gaming, and comics (AVGC) sector and related businesses, as well as Idea2PoC grants, which provide early-stage funding to concepts that have yet to prove their concept. Local startups are increasingly attracting the attention of private investors.
Swiggy and Flipkart, two local unicorns, have raised $1.5 billion and $7.5 billion, respectively.
The Tata Group recently completed a $1.2 billion agreement to buy a controlling share in BigBasket, an online grocery shop. Byjus, CRED, Meesho, Groww, Dailyhunt, Digit Insurance, InMobi, Mu-Sigma, Razorpay, Udaan, ShareChat, BlackBuck, and Unacademy are just a few of the successful IT unicorns based in Karnataka. Karnataka also hosts a number of significant tech events, such as the Bangalore Tech Summit, which brings together some of the world's brightest minds to explore the future of technology.
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